The meme coin madness isn’t over—and one crypto whale just proved it with a massive $1.7 million bet on PEPE.
In a move that set social media and on-chain analysts buzzing, a whale splashed 700 ETH in under an hour to scoop up 154.29 billion PEPE tokens, according to Spot On Chain. The transaction, captured in real time, is the latest in a string of aggressive buys by this wallet, which now holds 1.38 trillion PEPE, valued at a jaw-dropping $15.26 million.
Even more impressive? This investor is up nearly $12 million in profit—a 196% gain. That kind of return isn’t just rare—it’s legendary, even in the rollercoaster world of meme coins.
PEPE: From Frog Meme to Market Force
Launched in April 2023, PEPE took inspiration from the iconic Pepe the Frog meme and quickly became one of the most viral assets in the crypto sphere. With zero tax policies, a hyper-engaged community, and relentless social media buzz, PEPE exploded in value—hitting a $1.6 billion market cap during its 2023 bull run.
Fast-forward to today, and PEPE remains a top meme coin, ranked #27 globally with a market cap of $4.78 billion. However, it’s feeling the heat in the short term, down 9.10% in the past 24 hours and trading at $0.000011, according to CoinMarketCap.
Big Buys, Big Moves
The whale’s most recent spree wasn’t just for show. According to Spot On Chain’s analysis on X, the activity included a chart showing key buy zones (green) that preceded sharp price surges—and sell zones (red) that aligned with corrections.
One particularly fascinating detail? The purchase generated over $5,000 in Ethereum gas fees, as noted by @SAG3_ai. That means this meme coin move indirectly contributed to ETH’s deflationary burn, showcasing how meme coin activity can ripple across the entire ecosystem.
Risky Business or Smart Play?
While the gains look glamorous, PEPE—like most meme coins—is not for the faint of heart. Analysts frequently warn about the risks of rug pulls, pump-and-dump schemes, and poor liquidity, especially when whales make sudden moves. As Investopedia puts it: “Meme coins offer high reward but come with extreme volatility and exit risks.”
Still, the PEPE community remains laser-focused on what they call the “meme takeover.” With whispers of tier-1 exchange listings, brand partnerships, and more viral marketing in the pipeline, optimism is running high.
What Comes Next?
Whether this whale is early to a second PEPE rally—or just enjoying the high-stakes gamble—remains to be seen. But one thing is clear: meme coin season is far from over.
For everyday investors, this is a reminder to DYOR (Do Your Own Research) before chasing green candles. But for meme coin believers, this $1.7 million splash is a bullish vote of confidence—and perhaps the start of another wild ride.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
