Top X analytics account @lookonchain is spreading the word about the birth of a new PEPE whale after it withdrew a large amount of meme coins from Binance.
Top X analytics account @lookonchain is spreading the word about the birth of a new PEPE whale after it withdrew a large amount of meme coins from Binance.
It happened after the popular meme cryptocurrency, PEPE, demonstrated an increase of almost 7% today. Furthermore, a major new development in the meme coin market has had repercussions within the crypto community.
New whale seizes 357 billion PEPE as price rises
Lookonchain reported that a new crypto whale withdrew 357.34 billion PEPE after a probable purchase on Binance. This amount of meme coins comprises the equivalent of $2.9 million in fiat money.
Aside from that, today also 36,432,242,150 PEPE were exchanged between anonymous wallets, and a whopping 121,152,428,401 PEPE were transferred from an unknown address to a blockchain wallet hosted on the Kraken exchange.
Today, the popular meme-inspired cryptocurrency, PEPE, soared by approximately 7%, reaching the $0.00000821 level. Then there was a small drop that caused the price of PEPE to drop by 4.16%. At the time of writing, the coin is changing hands at $0.00000804.
VanEck starts tracking cryptocurrency meme
Leading wealth manager VanEck, one of the spot issuers of Bitcoin ETFs, has expanded its interest in the meme coin that is part of the cryptocurrency space. On Wednesday, it was widely reported that VanEck launched a new index to track the six largest and most popular meme coins.
The new index is called MarketVector’s Meme Coin Index and trades under the symbol MEMECOIN. This index includes the following meme cryptocurrencies: DOGE, SHIB, PEPE, WIF, FLOKI and BONK.
This major development for meme coins has not had any significant impact on their prices so far. Dogecoin has fallen 3.64% in the last 24 hours. As for Shiba Inu, it continues to trade sideways in the price range of $0.00002253.
