---
title: "PEPE whale seizes dip opportunity, buys $529k worth of tokens"
url: https://diffcoin.com/pepe-whale-seizes-dip-opportunity-buys-529k-worth-of-tokens/
description: "After the value of the frog-themed memecoin Pepe (PEPE) dropped by approximately 15% due to recent modifications in a multisig wallet and concerns about…"
published: 2023-08-25
updated: 2023-08-25
author: "Mila"
site: "Diffcoin"
---

# PEPE whale seizes dip opportunity, buys $529k worth of tokens

After the value of the frog-themed memecoin Pepe (PEPE) dropped by approximately 15% due to recent modifications in a multisig wallet and concerns about potential developer manipulation, a significant PEPE holder spent 320 Ethereum (ETH) valued at $529,000 to acquire 640 billion PEPE tokens.

According to an X (formerly known as Twitter) post [shared](https://twitter.com/lookonchain/status/1694978987603399103) by the on-chain analytics platform, Lookonchain. The post also revealed that the whale purchased the PEPE at an average buying price of $0.000001163.

Continuing its previous actions, the same whale made another move on Aug. 25, following its earlier transactions. On June 5, 2023, the whale used 280 Ethereum (equivalent to $507,000) to obtain 500 billion PEPE tokens. Furthermore, on May 6 of this year, the whale invested 253 Ethereum (worth $481,000) to acquire 164 billion PEPE tokens.

> A whale spent 320 [$ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw) ($529K) to buy 640B [$PEPE](https://twitter.com/search?q=%24PEPE&src=ctag&ref_src=twsrc%5Etfw) again 3 hrs ago.
> 
> The whale also spent 280 [$ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw) ($507K) to buy 500B [$PEPE](https://twitter.com/search?q=%24PEPE&src=ctag&ref_src=twsrc%5Etfw) on June 5 and spent 253 [$ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw) ($481K) to buy 164B [$PEPE](https://twitter.com/search?q=%24PEPE&src=ctag&ref_src=twsrc%5Etfw) on May 6.
> 
> The average buying price is $0.000001163. [pic.twitter.com/BjReDraBgv](https://t.co/BjReDraBgv)
> 
> — Lookonchain (@lookonchain) [August 25, 2023](https://twitter.com/lookonchain/status/1694978987603399103?ref_src=twsrc%5Etfw)

Possibly seizing the opportunity presented by PEPE’s reduced price after a significant sell-off, this specific whale appears to have acted fast. The meme coin experienced a surge in selling activity, potentially prompting the whale’s action. The turmoil centered around adjustments made to a multisig wallet managed by the developers.

Modifications were applied to this wallet, originally containing $10 million in PEPE value, resulting in a reduction of mandatory transaction signatures. This change, which lowered the necessity from five out of eight signatures to just two, prompted immediate suspicions.

Changes made to a project’s critical financial structure naturally give rise to worries about a potential “rug pull,” where developers vanish with investors’ funds. Following these developments, the value of the once popular meme coin has plunged by more than 20% within the past 24 hours alone.

***Related:*** ***Is the 25% drop in PEPE, SHIB and APE a sign of a deepening crypto bear market?***

As of the time of publication, the trading price of PEPE has declined to $0.0000008738, just slightly above its lowest point in the 24-hour span at $0.0000008046. During the same period, the trading volume for PEPE experienced a significant surge of 276.51% compared to the previous day, reaching a remarkable total of $283.05 million.

Over the last 24 hours, the decrease in PEPE’s price further contributed to its lackluster performance in the previous 30 days. As a result, the meme coin witnessed a decline of over 30% during the month.

***Magazine:*** ***How smart people invest in dumb memecoins — 3-point plan for success***

[Source link](https://cointelegraph.com/news/pepe-whale-seizes-dip-opportunity-buys-529k-worth-of-tokens)