PEPE, a meme coin, is generating significant interest among crypto whales, who are making substantial purchases despite the coin's recent decline. On-chain data indicates that whales have been actively accumulating PEPE over the weekend, with notable transactions involving billions of tokens. This activity suggests a "buy-the-dip" strategy, as whales position themselves for potential gains. Venture capital firm Nascent acquired 447.67 billion PEPE tokens worth $5.48 million, making PEPE its largest holding. Another whale withdrew 231.6 billion PEPE worth $2.9 million from Kraken, with a total accumulation of 750.34 billion PEPE worth $8.34 million since March. These large-scale purchases have contributed to a recent price recovery, with PEPE trading at $0.00001239 and a 0.72% increase in the past 24 hours. This development may attract retail investors, potentially driving up demand and prices.

The recent surge in PEPE's price can be attributed to the increased interest from crypto whales, who are strategically positioning themselves amidst market volatility. Despite PEPE's 20% decline in value last week, whales are employing a "buy-the-dip" strategy, accumulating millions of dollars' worth of PEPE tokens. This activity is reflected in on-chain data, which reveals multiple transactions involving billions of PEPE tokens. The venture capital firm Nascent, for instance, acquired 447.67 billion PEPE tokens worth $5.48 million, making PEPE its largest holding. Another whale withdrew 231.6 billion PEPE worth $2.9 million from Kraken, with a total accumulation of 750.34 billion PEPE worth $8.34 million since March.

The accumulation of PEPE by crypto whales is not limited to these instances. Another whale withdrew 303.4 billion PEPE worth $3.8 million from Binance and OKX, transferring the tokens to two private wallets. These large-scale purchases have contributed to a recent price recovery, with PEPE trading at $0.00001239 and a 0.72% increase in the past 24 hours. This development may attract retail investors, potentially driving up demand and prices. The interest in PEPE is not an isolated event, as the broader cryptocurrency market has witnessed a surge in meme coins. The recent approval of spot Ethereum ETFs has contributed to a positive outlook, with PEPE displaying a bullish price behavior and a strong support zone near the $0.00001380 threshold.

The recent activity in PEPE has piqued the interest of high-net-worth investors, with a whale investor withdrawing 1.32 trillion PEPE tokens from Binance within five days. This whale's PEPE portfolio has already generated a 21% return at the current price, demonstrating the coin's potential for high returns. The surge in PEPE's price can be attributed to the increased interest from crypto whales, who are strategically positioning themselves amidst market volatility. Despite PEPE's 20% decline in value last week, whales are employing a "buy-the-dip" strategy, accumulating millions of dollars' worth of PEPE tokens.

The interest in PEPE is not an isolated event, as the broader cryptocurrency market has witnessed a surge in meme coins. The recent approval of spot Ethereum ETFs has contributed to a positive outlook, with PEPE displaying a bullish price behavior and a strong support zone near the $0.00001380 threshold. The price surpasses the 50-day and 200-day simple moving averages (SMA), further bolstering the bullish outlook. Santiment, an on-chain analysis firm, estimates that the number of active addresses possessing PEPE increased from 3,600 to 12,000, indicating a potential rally. A comparable surge in PEPE pouches was noted at the midpoint of May. The recent surge in PEPE's price can be attributed to the increased interest from crypto whales, who are strategically positioning themselves amidst market volatility. Despite PEPE's 20% decline in value last week, whales are employing a "buy-the-dip" strategy, accumulating millions of dollars' worth of PEPE tokens.