Pepe whale accumulation increases, long-term holders decline

Pepe, a token inspired by the 2000s meme “Pepe the Frog,” is seeing a notable shift in whale activity and carrier composition.

According to data provided by IntoTheBlock, the net flow of major shareholders of Pepe (PEPE) shifted from a net outflow of PEPE 534 billion to a net inflow of 580 billion on Tuesday, December 3.

PEPE whale net flow | Source: IntoTheBlock

This momentum from Pepe investors could trigger FOMO (fear of missing out) among retail owners.

An anonymous Pepe whale has accumulated and withdrawn more than 337 billion PEPE tokens from Binance, the largest crypto exchange by trading volume, over the past 20 days, according to Lookonchain’s

These tokens are currently worth approximately $7 million.

According to ITB data, one of the largest increases in Pepe whale net flow occurred on November 14, when major holders accumulated 4.7 trillion PEPE tokens and its price reached $0.000023. The price of the meme coin has been consolidating below this level ever since.

On the other hand, medium and long-term PEPE holders have recorded a decline in the last month. Addresses holding meme money for more than a year dropped from 91,200 on November 11 to 89,000 on December 3, according to ITB data.

The number of cruisers holding PEPE for 1 to 12 months fell from 200,000 on November 8 to approximately 89,000 yesterday. However, PEPE traders who have been hiding for less than a month have increased by 262% in the last 30 days, reaching 72,000 unique addresses.

Pepe entered consolidation last day near $0.000020 with a market value of $8.69 billion. 24-hour trading volume fell 1% to $3.48 billion.

At this point, it is very likely that PEPE’s bullish momentum will face blockage by short-term traders unless another wave of strong whale accumulation surfaces. This puts the meme money in highly volatile territory.

Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.