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Highlights
- Meme coin whales embark on PEPE and WIF buying spree.
- Roughly 375 billion PEPE and 15 million WIF tokens were accumulated on Thursday.
- Market enthusiasts expect a bullish movement for these tokens despite the ongoing volatile market trend.
Meme coin whales nabbed significant market attention amid the recent turbulent landscape, heavily purchasing Pepe coin (PEPE) and Dogwifhat (WIF). On-chain data on Thursday revealed that roughly $16 million worth of the abovementioned tokens were bought from the cryptocurrency exchange behemoth Binance. As an upshot, crypto market enthusiasts anticipate a bullish movement for these meme tokens ahead.
Meme Coin Whales Sack 375B PEPE & 15M WIF Tokens Sparking Optimism
According to data by Spotonchain on X, meme coin whales scooped massive amounts of the two tokens from Binance on February 5. Data revealed that the whale 0xf37 bagged 375.35 billion PEPE, worth $3.73 million, from the mentioned crypto exchange giant on Thursday.
Further, the whale 4x3M8 bought 9 million WIF, worth $7.42 million, from the same exchange within the same period. Also, the whale address A3kTT woke up after 2 years of dormancy to purchase $5.19 million worth of the dog-themed meme token. Altogether, the heavy buying by large-scale investors added a bullish tint to the asset’s future price movements, with usual market sentiments conveying that gains are imminent.
Buy-The-Dip Opportunity?
Meanwhile, it’s noteworthy that the crypto market has seen remarkable volatility recently, with this month proving to be ‘not so good’ for investors. Bitcoin price has lost nearly 6% of its value since January end to date, with altcoins mainly following the waning action with more heat.
Dogwifhat, while already in a price slump, witnessed a further 29% drop from January end to date. Following a very similar movement, even Pepe Coin lost nearly 26% in the same period. However, the massive accumulations by whales amid this slump flags a potential buy-the-dip strategy, signaling price gains, and thus recovery is imminent for these leading meme coins.
How Are The Meme Coins Performing Amid Rising Whale Activity
At the time of reporting, PEPE price witnessed an uptick of nearly 1.5% and exchanged hands at $0.00001035. The coin’s intraday bottom and peak were $0.000009783 and $0.00001044, respectively. While the coin jumps alongside heightened buying, it’s noteworthy that renowned market experts are also projecting bullishness on future movements.
Notably, market enthusiast ‘SlumDOGE Millionaire’ recently revealed that he sold all his ETH holdings, thereby going “all in” on the frog-themed meme token. This accumulation, worth nearly 1 billion coins, has garnered additional market optimism surrounding the asset in light of the heightened buying by meme coin whales. Further, renowned crypto enthusiast Jake Gagain also took to X, revealing that the token is going to pump the “hardest in 2025.” Altogether, these developments project immense bullishness on the crypto’s future price action.
On the other hand, WIF price tanked roughly 2% intraday despite the massive accumulation and is trading at $0.8099. Its 24-hour low and high were $0.7741 and $0.8505, respectively. Nevertheless, renowned trader ‘The Cryptomist,’ took to X, revealing that the “First target is $1.10” if the token breaks out from the given below ascending triangle. Traders and investors continue to monitor the coin extensively, remaining optimistic about price movements ahead due to burgeoning accumulations.
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