Deep pockets, big appetite. A major player in the cryptocurrency world has moved a substantial amount of Pepe coins. Reports indicate that this whale, known as qianbaidu.eth, withdrew 506 billion Pepe tokens from the Binance exchange on March 26, 2025.
Big Appetite
That’s a lot of coins, valued at approximately $4.4 million. This marks not the first time this particular whale has engaged with Pepe; they previously capitalized on the market, reaping about $7.34 million in profit trading this meme coin.
qianbaidu.eth, an early PEPE buyer who once made a $7.34M profit (+110%), withdrew 506.2B $PEPE ($4.4M) from #Binance ~10 hours ago!
Now, the whale holds 699.8B $PEPE ($5.11M), with a floating profit of $164K (+2.8%).
Follow @spotonchain and track the whale’s two active… pic.twitter.com/8NRljYTIBs
— Spot On Chain (@spotonchain) March 27, 2025
Market Shows Some Strength
Why is Pepe suddenly attracting the attention of these major investors? As noted, Pepe has experienced notable peaks in the past, with its market value hitting $1.6 billion in 2023, and skyrocketing to an impressive $11 billion by December 2024. This past performance may give whales renewed confidence in the meme coin.
More People Are Holding Pepe
The number of holders of the meme coin has also seen an uptick recently, with 542 new Pepe holders recorded in March 2025.
Although the number of long-term holders has seen a decline, the influx of new investors combined with whale activity signals a potential resurgence of interest in the coin.
Some analysts suggest that this whale buying frenzy could signify a price increase for Pepe, reminiscent of its earlier surges driven by internet hype. The pertinent question remains: Is this a temporary spike or a precursor to another significant rise?
It is essential to bear in mind that cryptocurrencies, especially meme coins like Pepe, can be highly volatile. While large investments by whales may offer some insights into market direction, they come with no guarantees.
Therefore, investors should exercise caution and conduct their research prior to making any buying or selling decisions.
Featured image from Gemini Imagen, chart from TradingView
