Smart money addresses have been accumulating the meme coin PEPE for the past seven days, according to data from on-chain research firm Nansen. While the number of wallets labeled smart money remained steady at 131, their holdings grew by 1.8 trillion in the last week, representing over $2 million. During the same period, PEPE’s price demonstrated 30% growth.
This buying movement comes after a huge dump happened between Jan. 24 and Feb. 6, with smart money addresses selling 2.6 trillion during this period.
A Wintermute trading wallet is shown by Nansen as the address responsible for accumulating $1.8 million in the last seven days. Their PEPE inflows get even larger when considering the last 30 days, with almost $2.8 million received from Wintermute’s trading wallet.
An address starting with 0xc09 comes with the second-biggest accumulation movement for the past seven days, acquiring over $200,000 in PEPE from Feb. 13 to Feb. 15. This wallet is labeled by Nansen as a ‘90D Smart Dex Trader’, a title given to traders with the largest realized profits in the last 90 days.
Another wallet, this one a profitable trader in the last 30 days, also made a significant buy of over $92,000 in PEPE in the last 48 hours. Considering that both traders have a history of being profitable, and the 30% price growth in seven days, the landscape suggests that they might be onto something, or they are being ‘degenerates’ with their investments.
