6 Of The Top 10 PEPE Holding Addresses Are Exchange Wallet Addresses

Key Points:

Six of the top ten memecoin PEPE holding addresses are cryptocurrency exchange hot wallet addresses.
Exchanges, including Binance, OKX, Huobi, MEXC, KuCoin, and Gate are said to have whales holding large amounts of this memecoin.
It has created a fever for investors with the return of the memecoin wave, causing its trading volume to skyrocket.

PEPE’s market valuation surpassed $1 billion after its launch in Binance’s Innovation Zone and saw trading volume skyrocket. However, the majority of coins held by the top 10 wallet addresses come mainly from whales on exchanges.

Etherscan data shows that among the top 10 holding addresses of memecoin PEPE, 6 are hot wallet addresses of cryptocurrency exchanges. Among them, Binance, OKX, Huobi, MEXC, KuCoin, and Gate ranked 1st, 3rd, 4th, 5th, 8th, and 9th, respectively, and the memecoin held by these addresses accounted for about 17.23% of the total issuance.

Pepecoin is a new coin meme created on the Ethereum network, inspired by the famous internet green frog meme of the same name. The memecoin also specifically states on its website that PEPE is a memecoin with no intrinsic value or expectation of financial return. There is no official team or roadmap. The coin is completely useless and is for entertainment purposes only.

Yet after just four days, Pepecoin has increased more than 500 times, with over 25,000 transactions taking place for this unit. This memecoin was also highlighted as a top Twitter search term. From there, we can plainly understand the market’s FOMO with not just PEPE but also memecoin.

It is well known that Pepecoin not only provides fresh wind to the market but has also generated record-high profits for certain early investors.

As of this writing, the memecoin exchanged hands at $0.00000257, with an over 30% decrease in trading volume within the last 24 hours. Increased trading following its addition to Binance’s Innovation Zone pushed its daily trading volume to an all-time high of $2.76 billion, per data from Santiment.

PEPE price chart. Source: TradingView

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.