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Whale Alert cryptocurrency tracker has purchased a mind-blowing amount of meme cryptocurrency Pepe on a major crypto exchange in Turkey. Several trillion Pepe have been withdrawn to an anonymous digital wallet.
This massive transaction was made after Pepe coin demonstrated a major price surge followed by a small correction.
4 trillion Pepe leave Paribu exchange
Slightly more than three hours ago, an anonymous investor purchased a mammoth-sized amount of popular meme coin Pepe on leading Turkish cryptocurrency exchange Paribu. The whale withdrew a staggering 4,049,371,347,309 $PEPE. This amount of crypto is evaluated at $31,091,073.
🚨 🚨 4,049,371,347,309 #$PEPE (31,091,073 USD) transferred from #Paribu to unknown wallethttps://t.co/tVYqZmNPH2
— Whale Alert (@whale_alert) May 3, 2024
Paribu boasts almost five million active users and has been operating on the market since 2017 – the year when Bitcoin soared to the $20,000 all-time high. The platform provides support for more than 60 cryptocurrencies traded against Turkish lira and stablecoins.
Another major purchase of $PEPE took place on Binance earlier this week. On May 3, an anonymous whale withdrew 331.3 billion $PEPE to his wallet after paying $2.24 million for that meme coin chunk. In the past four days, this whale has withdrawn 660.7 billion $PEPE worth $4.57 million from the Binance and MEXC exchanges.
$PEPE skyrockets over 17%
Pepe continues its price ascent, started earlier this week. Over the past 24 hours, the prominent meme coin has increased by more than 17%, soaring to $0.00000174. This was followed by a 4% decline. However, over the past hour, $PEPE printed a large green candle on an hourly chart, surging by 5.11%. At press time, the coin is trading at $0.00000801.
This is a whopping 31.5% price surge since Wednesday this week. One of the factors that has driven this price surge is the major U.S. exchange Kraken adding a $PEPE-based margin pair, exposing the cryptocurrency to millions of traders.
$PEPE emerged in April last year. Made by an anonymous developer team, it was inspired by a popular meme based on the Pepe the Frog character. Several major exchanges quickly added support for $PEPE last year, and this contributed to the expansion of its popularity on the cryptocurrency market.