PEPE: Smart Money Accumulates as Price Surges

One prominent trader, Wintermute, accumulated $1.8 million worth of PEPE, while other addresses also increased their holdings.

The meme coin PEPE has been accumulated by smart money addresses for the past week, according to data from the on-chain research firm Nansen.

A week ago, the value of the funds held by the 131 accounts that are labeled as smart money increased by $1.8 trillion, which is equivalent to more than $2 million. During the same time frame, the price of PEPE exhibited a 30% increase.

This purchasing activity follows a massive sell-off from January 24 to February 6, during which smart money addresses sold $2.6 trillion.

Notable Traders and Their Impact on PEPE

Nansen identifies a Wintermute trading wallet as where $1.8 million has been accumulated over the past week. Their PEPE inflows have increased even further over the past thirty days, with Wintermute’s trading wallet contributing nearly $2.8 million.

A second-largest accumulation movement in the meme coin for the previous week occurred at an address beginning with 0xc09, which acquired more than $200,000 in PEPE between February 13 and February 15.

“90D Smart Dex Trader” is a designation held by Nansen in recognition of wallets that have generated the most excellent realized profits over the previous ninety days.

An additional wallet, profitable over the past thirty days, purchased over $92,000 worth of the meme coin within the last forty-eight hours.

Given the worthwhile track records of both traders and the 30% increase in price over seven days, the situation implies that they are either onto something or exhibiting “degenerate” investment behavior.