As Shiba Inu and Dogecoin continue to dominate the meme coin narrative, crypto whales are quietly making significant moves in another meme coin: PEPE. Recent on-chain data reveals a surge in activity among whales, indicating a growing interest in PEPE as an investment opportunity amidst market turbulence.

Over the weekend, crypto whales were observed accumulating substantial amounts of PEPE tokens, signaling a potential reversal in the coin's recent bearish trend. Despite experiencing a 20% decline in value over the past seven days, PEPE has attracted attention from investors looking to capitalize on the dip.

One notable example of this trend is venture capital firm Nascent's acquisition of 447.67 billion PEPE tokens, valued at $5.48 million. This significant investment positions PEPE as the largest cryptocurrency holding in Nascent's portfolio, underscoring the firm's confidence in the meme coin's potential.

Additionally, on-chain data highlights another whale's consistent accumulation of PEPE since March 16, with withdrawals totaling approximately 750.34 billion PEPE worth $8.34 million from Kraken. Furthermore, substantial withdrawals of 303.4 billion PEPE worth $3.8 million from Binance and OKX into private wallets suggest continued bullish sentiment among whales.

Despite recent market challenges, including a 21% decline in PEPE's value over the past week, the coin has shown signs of recovery in response to whale accumulation. With PEPE trading at $0.00001239 and posting a 0.72% increase in the past 24 hours, investors are eyeing further upside potential in the coming days.

As whales continue to make significant purchases in PEPE, retail investors may soon experience FOMO (Fear of Missing Out) and join the bullish momentum. The renewed interest in PEPE underscores the dynamic nature of the cryptocurrency market and highlights the potential for meme coins to capture investor attention amidst market volatility.