Meme Coin Whales Invest $16 Million in PEPE and WIF Tokens
Meme coin whales have recently invested heavily in Pepe coin and dogwifhat, purchasing over $16 million worth from Binance amid a market downturn.
Details of the Purchase
- Whale 0xf37 acquired 375.35 billion PEPE for $3.73 million.
- Whale 4x3M8 purchased 9 million WIF for $7.42 million.
- Whale A3kTT spent $5.19 million on WIF after being inactive for over two years.
Market Context
- Bitcoin has dropped over 6% since February, impacting the broader market.
- Dogwifhat and Pepe coin values declined by 29% and 26%, respectively, during this period.
- Whale investments suggest they see a potential buy-the-dip opportunity.
- PEPE saw a price increase of nearly 0.40%, trading at $0.00001005.
- WIF price increased by 0.50%, trading at $0.799.