PEPE is flat at spot rates, likely due to whale activity

Trackers show that the meme is up 8% in the last day, fueling gains of 20% in the past week. This indicates that trader sentiment is improving.

PEPE whales accumulating

Lookonchain data on September 29 reveals that PEPE whales are accumulating.

Major transactions and whale activity

Three major transactions totaling $1.5 million were made on September 28 to purchase PEPE. On September 29, two new wallets spent over $800,000 to acquire 1.08 trillion PEPE.

Meanwhile, another investor traded $645,000 worth of Ethereum (ETH) for PEPE. The same investor had previously purchased 1.04 trillion PEPE in August and made over $2.3 million from the meme token earlier this year.

Whale participation can reassure investors and boost confidence. PEPE holders were concerned about the rug being pulled earlier this month.