Whale Buys PEPE Worth IDR 50 Billion Amid Market Turbulence

Whale bought PEPE worth IDR 50 billion in the midst of market turmoil (Photo; Doc. Coinmarketcap)

JAKARTA - A large investor or whole has reportedly purchased a PEPE token worth 3.13 million US Dollars (approximately IDR 50 billion). This move comes at a time when many other investors take advantage of the decline in market prices as an opportunity to increase their holdings, hoping to make a profit when the market recovers.

According to data from the on-chain analysis platform, Lookonchain, the whale identified through the wallet address coolislandstust.eth began accumulating PEPE coins last week. On August 5, it bought a number of meme coins amid a market drop that also affected the price of Bitcoin and Ethereum, down to US$49,000 (Rp775 million) and US$2,000 (Rp31 million), respectively.

This time, the investor bought more PEPEs again, bringing the total investment in the token to around 3.2 million US Dollars (around Rp50 billion).

Apart from PEPE, this investor also bought Ether (ETH) on August 5, along with PEPE purchases. He spent 7.05 million US Dollars (Rp111 billion) in USDT stablecoins to buy 2,978 ETH. Until now, the investment has generated a profit of 534,000 US Dollars (Rp8.4 billion).

This investor is not the only one trying to take advantage of opportunities in the crypto market. In high volatility conditions, many investors are looking for the right time to enter or leave their investment positions in order to maximize profits.

Reporting from Coinsepaker, over the weekend, Lookonchain reported that other whales had "unrealized" gains of nearly 8 million US Dollars (Rp126 billion) after investing a total of 99 million US Dollars (Rp 1.5 trillion) to buy Ether. This whale has consistently accumulated Ether since May 2024, with the latest purchases made on Saturday.

On Friday, another investor who also invested in PEPE was in the spotlight after disbursing an investment with a profit of 5.06 million US Dollars (Rp80 billion) from an initial investment of 3.4 million US Dollars (Rp53 billion). The Whale bought a total of 395.92 billion PEPE, which was then transferred to Binance for sale.

Whales are known to often handle very large amounts of tokens, often reaching millions of dollars. Earlier this month, on August 1, these investors transferred 400 billion other tokens to Binance, with each digital asset estimated to be worth around 4.22 million US Dollars (Rp 66 billion).

In the same week, another whale was seen moving 200 BTC, worth about 10.33 million US Dollars (Rp163 billion) to Binance. This whale known as the pseudonym 3MMB6 bought the crypto asset in October last year for a total price of 5.96 million US Dollars (Rp94 billion), at which time the price of Bitcoin was well below the current price of 58,000 US Dollars (Rp918 million). Now, this investor is enjoying a profit of 4 million US Dollars (Rp63 billion).