PEPE is flat at spot rates, most likely because of Whale activity.

Tracking devices show that meme token PEPE is up 8% today, with gains extending by 20% in the past week. This indicates that trader sentiment is improving.

PEPE Whales Accumulating

Loconchain data on September 29 reveals that PEPE whales were accumulating.

Recent Transactions

Three major transactions were completed with a total value of $1.5 million made on September 28 to purchase baby. On September 29, two new Governor spent over $800,000 to acquire 1.08 trillion PEPE.

Whale Profits and Investments

One investor made $2.34 million (38,860x) on baby. He spent 390 ETH ($645 thousand) to buy baby again 6 hours since. Additionally, the same investor spent 550 ETH ($951 thousand) to buy 1.04 trillion baby on August 29.

Meanwhile, another investor traded $645,000 worth of Ethereum (ETH) for baby. 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.

Boosting Investor Confidence

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