Whale Alert cryptocurrency tracker has purchased a mind-blowing amount of meme cryptocurrency Pepe on a major crypto exchange in Turkey. Several trillion Pepe have been withdrawn to an anonymous digital wallet.
This massive transaction was made after Pepe coin demonstrated a major price surge followed by a small correction.
4 trillion Pepe leave Paribu exchange
Slightly more than three hours ago, an anonymous investor purchased a mammoth-sized amount of popular meme coin Pepe on leading Turkish cryptocurrency exchange Paribu. The whale withdrew a staggering 4,049,371,347,309 PEPE. This amount of crypto is evaluated at $31,091,073.
🚨 🚨 4,049,371,347,309 #PEPE (31,091,073 USD) transferred from #Paribu to unknown wallethttps://t.co/tVYqZmNPH2
— Whale Alert (@whale_alert) May 3, 2024
Paribu boasts almost five million active users and has been operating on the market since 2017 – the year when Bitcoin soared to the $20,000 all-time high. The platform provides support for more than 60 cryptocurrencies traded against Turkish lira and stablecoins.
Another major purchase of PEPE took place on Binance earlier this week. On May 3, an anonymous whale withdrew 331.3 billion PEPE to his wallet after paying $2.24 million for that meme coin chunk. In the past four days, this whale has withdrawn 660.7 billion PEPE worth $4.57 million from the Binance and MEXC exchanges.
PEPE skyrockets over 17%
Pepe continues its price ascent, started earlier this week. Over the past 24 hours, the prominent meme coin has increased by more than 17%, soaring to $0.00000174. This was followed by a 4% decline. However, over the past hour, PEPE printed a large green candle on an hourly chart, surging by 5.11%. At press time, the coin is trading at $0.00000801.
This is a whopping 31.5% price surge since Wednesday this week. One of the factors that has driven this price surge is the major U.S. exchange Kraken adding a PEPE-based margin pair, exposing the cryptocurrency to millions of traders.
PEPE emerged in April last year. Made by an anonymous developer team, it was inspired by a popular meme based on the Pepe the Frog character. Several major exchanges quickly added support for PEPE last year, and this contributed to the expansion of its popularity on the cryptocurrency market.
