• A whale spent $529K worth of Ether to acquire 640 billion Pepecoin tokens, following a previous investment of $507K and $481K for 500 billion and 164 billion tokens respectively.
• The purchase occurred after the value of Pepecoin dropped due to modifications to a multisig wallet and developer manipulation concerns.
• The average price per token was 0.000001163.
Whale Seizes Dip Opportunity
A large Pepecoin holder recently seized the opportunity presented by PEPE’s reduced price after a significant sell-off, spending 320 Ether (valued at $529,000) to acquire 640 billion Pepecoin tokens.
Previous Investments
This same whale had previously invested 280 Ether (worth $507,000) to acquire 500 billion PEPE on June 5th, 2023 as well as 253 ETH ($481,000) for 164 billion PEPE tokens on May 6th of the same year.
Cause Of Price Drop
The memecoin experienced a surge in selling activity and value drop due to adjustments made to a multisig wallet managed by the developers which originally contained $10 million in PEPE.
Average Price Per Token
The average buying price was estimated at $0.000001163 per token.
Conclusion
This particular whale appears to have acted fast in order to benefit from the current market conditions surrounding Pepecoin; their quick action has allowed them to purchase an additional 640 billion tokens at an advantageous rate before any potential further drops or increases in value occur.