In recent weeks, big investors, known as whales, have been buying a lot of Pepe Coin, driving its price to new highs every day. Data from IntoTheBlock shows that wallet addresses with over $100,000 worth of Pepe Coin have been increasing their holdings, and everyone who owns Pepe Coin is currently making a profit.

Today, the price of Pepe Coin reached a record high of $0.00001156. About a month ago, CoinGape suggested buying Pepe Coin when it was trading at $0.000007079.

Whales are still buying Pepe Coin. Lookonchain, a platform that tracks blockchain activity, reported that one whale bought 520 billion Pepe Coin on May 15, pulling out $5.28 million worth from the Binance exchange. This particular whale isn't a trader; they've held onto their investments for a long time and have only sold five tokens out of the ten they own. Despite this buying spree, the whale has an overall loss of $6.1 million, with only half of their investments being profitable.

Another big purchase came from a wallet associated with BlockTower Capital, which bought 202 billion Pepe Coins worth $2.2 million through the trading firm Cumberland. However, it's worth noting that BlockTower Capital's main hedge fund was recently targeted by fraudsters, resulting in some losses.

Despite the surge in buying, Pepe Coin's price fell by 1% in the last 24 hours as whales started cashing out their profits. It's currently trading at $0.00001035, with a trading volume decrease of 24%, suggesting a drop in trader interest.

While Pepe Coin has seen remarkable growth over the past month, derivatives trading data indicates that there's been significant selling activity on various crypto exchanges. The total open interest in 1000PEPE futures has dropped by 15% on platforms like Binance, Bybit, BingX, and Coinbase.

In conclusion, whales have been buying large amounts of Pepe Coin, driving its price to new highs. However, as profits are being taken, the price has dipped slightly, and there's evidence of selling in the derivatives market.