$PEPE There’s a familiar name behind this rally—Justin Sun 🐸
According to Arkham’s on-chain data, addresses linked to Justin Sun currently hold around $51.25 million worth of PEPE, or about 2.82% of the total supply, making him the largest individual holder outside of exchanges. The accumulation trail is also clear: on October 17, around 7.2 trillion tokens (worth about $28.44 million) were withdrawn from Poloniex, followed by another 4.65 trillion tokens (worth about $20.32 million) on October 26.
After the news broke, PEPE briefly rose around 14% in 24 hours, while the Meme sector led the broader market overall (+3.78%).
Honestly, the “big player is getting in” narrative can have a huge impact on meme coins, but the fundamentals haven’t changed at all. Having tokens concentrated in the hands of a few whales cuts both ways: their holdings can provide support, but if they leave, they can also trigger a sell-off. If you’re chasing the rally, make sure you’ve thought about your exit point.
#Meme #PEPE
For reference only. This is not investment advice.
According to Arkham’s on-chain data, addresses linked to Justin Sun currently hold around $51.25 million worth of PEPE, or about 2.82% of the total supply, making him the largest individual holder outside of exchanges. The accumulation trail is also clear: on October 17, around 7.2 trillion tokens (worth about $28.44 million) were withdrawn from Poloniex, followed by another 4.65 trillion tokens (worth about $20.32 million) on October 26.
After the news broke, PEPE briefly rose around 14% in 24 hours, while the Meme sector led the broader market overall (+3.78%).
Honestly, the “big player is getting in” narrative can have a huge impact on meme coins, but the fundamentals haven’t changed at all. Having tokens concentrated in the hands of a few whales cuts both ways: their holdings can provide support, but if they leave, they can also trigger a sell-off. If you’re chasing the rally, make sure you’ve thought about your exit point.
#Meme #PEPE
For reference only. This is not investment advice.