Buy 10% of tokens within minutes of going online? On-chain data analysis of the operation of the PEPE giant whale

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2023-04-20 18:20 (UTC+8)

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Before the start of the PEPE rise, giant whales had already bought at low prices, but they have not sold so far. Is it hard to tell or is it planning a "big move"?

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Before the start of the PEPE rise, giant whales had already bought at low prices, but they have not sold so far. Is it hard to tell or is it planning a "big move"?

Original author:An Ape's Prologue,Crypto KOL

Original Compilation: Felix, PANews

Original author:

Crypto KOL

Original Compilation: Felix, PANews

Meme coin PEPE soared 1,000 times in just 4 days, and some users started from scratch. Crypto KOL An Ape's Prologue found some wallets that managed to earn over $9 million at a total cost of 0.61 ETH (~$1210) — a 7500x return. However, the timing of the purchase is odd:

Analyze the whales behind PEPE, buy 10% of the tokens within minutes of going online

While analyzing the distribution of transactions on Uniswap V2, some unusual activity was discovered. Within minutes of the token starting trading, a group of newly funded wallets bought PEPE and are still holding them. Together they control nearly 10% of the total supply

First, a group of seven wallets funded from the Fixed Float exchange purchased a total of 17.7 trillion PEPE at a cost of approximately 0.34 ETH and now have an unrealized profit of $5.5 million.

Analyze the whales behind PEPE, buy 10% of the tokens within minutes of going online

Second, two wallets from the ChangeNOW exchange. A total of 5 trillion PEPE tokens were purchased at a cost of 0.1 ETH, currently worth approximately $1.5 million.

Analyze the whales behind PEPE, buy 10% of the tokens within minutes of going online

Third, an initial fund comes from the ByBit funding address, and then distributes about 0.17 ETH among the four wallets, buying a total of about 6.2 trillion tokens, and currently making a profit of $2.2 million.

Analyze the whales behind PEPE, buy 10% of the tokens within minutes of going online

This behavior raised questions about whether these wallets belonged to insiders or the development team, because not only did they buy at perfect timing, but they still held a considerable amount of tokens in the wallets after a massive 1,000-fold increase.

It’s worth noting that even if they sold 10% of their token holdings, it would be enough to send the token plummeting due to the poor liquidity available on-chain. It is therefore crucial for current holders to monitor the activity of these whales.

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