Sun Yuchen splashes nearly $50 million on PEPE—is he really going to become the “Frog King”?
Friends, there’s another big move in crypto! Sun Yuchen reportedly made a major purchase of PEPE recently—the meme coin featuring the familiar “Sad Frog”—with the transaction involving as much as $48.76 million, drawing market attention.
First, let’s look at the transaction: According to relevant on-chain data, he initially transferred around $77 million in stablecoins. The funds then moved between platforms including Binance, Poloniex, and Huobi before ultimately being used to buy a large amount of PEPE. The funds’ path was quite complex, adding to the discussion around this trade.
Now, let’s look at the change in holdings: Just 10 days ago, the #pepe in his wallet was worth around $260,000. It has reportedly risen to around $51 million today. However, this mainly reflects a change in the valuation of the holdings and does not mean those gains have been realized.
More noteworthy is the share of the supply he holds: Based on the relevant data, Sun Yuchen’s PEPE holdings account for about 2.82% of the total supply. For a popular meme coin, changes in a whale’s holdings could affect market sentiment, but that does not mean he can directly dictate price movements.
Friends, there’s another big move in crypto! Sun Yuchen reportedly made a major purchase of PEPE recently—the meme coin featuring the familiar “Sad Frog”—with the transaction involving as much as $48.76 million, drawing market attention.
First, let’s look at the transaction: According to relevant on-chain data, he initially transferred around $77 million in stablecoins. The funds then moved between platforms including Binance, Poloniex, and Huobi before ultimately being used to buy a large amount of PEPE. The funds’ path was quite complex, adding to the discussion around this trade.
Now, let’s look at the change in holdings: Just 10 days ago, the #pepe in his wallet was worth around $260,000. It has reportedly risen to around $51 million today. However, this mainly reflects a change in the valuation of the holdings and does not mean those gains have been realized.
More noteworthy is the share of the supply he holds: Based on the relevant data, Sun Yuchen’s PEPE holdings account for about 2.82% of the total supply. For a popular meme coin, changes in a whale’s holdings could affect market sentiment, but that does not mean he can directly dictate price movements.