Top 10 PEPE Coin Holders: Who Are the Biggest Owners?

Whitney Anderson
Whitney Anderson
Technology Writer
Last updated: May 15, 2024
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Meme coins have been thriving recently. Dogecoin, Shiba Inu, and, most notably, PEPE are all on the rise. This increase in their worth is due to more than just the typical hype. Bitcoin, the dominant player in digital currency, appears to have had a role in this, given its recent success.

Bitcoin began to soar in February 2024, with a 55% increase reported by CoinMarketCap. This increase is attributed to fresh Bitcoin ETF approvals and enthusiasm over the next halving.

PEPE, rated third among meme coins in terms of market capitalization, experienced a 254% price increase in just one week. According to CoinMarketCap, its price increased from $0.000002100 to approximately $0.000007480 by March 5, 2024.

According to a Lookonchain tweet, the recent PEPE price increase could be due to large investors purchasing $4.9 million in PEPE tokens today. This makes one question who has the most PEPE and stands to benefit from its rise?

Looking at who owns the most PEPE can help us predict where the coin will go next and what it means for investors.

Highlights

  • Memecoin Momentum: DOGE, SHIB, and PEPE coins have seen notable increases, likely fueled by Bitcoin’s recent price jump and positive market trends.
  • PEPE’s Price Spike: In just one week, PEPE’s value rocketed by 254%, with large investors (“whales”) playing a key role in this surge.
  • Whale Moves: Analysis revealed five wallets, likely under one owner, sold 970 billion PEPE coins for significant profits, following their earlier acquisition.
  • Dominant Holders: The top 10 PEPE coin holders possess more than 45% of all tokens, showcasing a considerable potential to sway the market.
  • Celebrity Influence: Figures like Elon Musk have been pivotal in boosting meme coin popularity through their public endorsements and social media interactions.

Discovering the top 10 PEPE Coin holders

On March 5, 2024, the digital currency landscape was buzzing with activity, particularly among meme currencies. Lookonchain‘s analytics showed a significant increase in transactions for PEPE coins.

Anndy Lian, a well-known figure in the NFT space and the author of “NFT: From Zero to Hero” suggested that the recent increase in PEPE’s value could be attributed to a combination of increased general interest in meme coins, effective viral marketing, and strategic social media engagement by both the PEPE team and its enthusiastic community.

Here are the addresses of the five important wallets:

  • 0x570cFE86ec71Cdae2D104a5A8F316d20de3C26F1
  • 0xFB37D526991EBeb92EE0C9B6D7EbD4a5C9c24f02
  • 0xd0dcf500901D9296a1F3489955857B0367103AF1
  • 0x43d9325467e3EdA336C7fa34cbA0991E9A38fAAF
  • 0x5c77655D1C768d6f6386Bc4CD85aeCB9F8f714b2

Furthermore, another prominent PEPE investor, using the wallet address 0x522e48ce64d357743935d932f4854b31e0928472, strategically placed 200 billion tokens (worth $1.48 million) into Binance, likely for profit, while keeping an extra 400 billion ($2.91 million) tokens.

This behavior poses an important question, who are the actual PEPE giants?

CoinMarketCap announced that as of March 5, 2024, the total circulation of PEPE tokens had topped 420 trillion.

CoinCarp gives further insight, stating that 171,107 wallets held PEPE on the same day. Notably, the top 10 holders possess more than 45% of the total token supply, with the top 100 holding over 73%, showing that these ‘whales’ have a major effect on PEPE.

Ethercan confirms this data, however with a small variation, giving a total of 171,956 distinct PEPE wallets.

A look at the top ten PEPE wallets and their shares:

NoAddress nameQuantity%
10xf977814e90da44bfa03b6295a0616a897441acec
Binance8
86,937,371,231,57720.67
20x6cc5f688a315f3dc28a7781717a9a798a59fda7b
OKX
23,359,359,502,0975.55
30x5a52e96bacdabb82fd05763e25335261b270efcb
Binance28
19,793,289,492,5704.7
40xf89d7b9c864f589bbf53a82105107622b35eaa40
Bybit: Hot Wallet
15,497,168,347,4193.68
50x16b2b042f15564bb8585259f535907f375bdc415
Kraken33
9,592,676,526,5872.28
60xf3b0073e3a7f747c7a38b36b805247b222c302a3
Crypto.com6
9,090,087,727,8612.16
70x28c6c06298d514db089934071355e5743bf21d60
Binance14
8,767,537,942,5222.08
80x835678a611b28684005a5e2233695fb6cbbb00077,242,850,000,0001.72
90x000000000000000000000000000000000000dead6,917,069,267,0491.64
100xd6216fc19db775df9774a6e33526131da7d19a2cKyCoin65,635,658,884,1201.34

These numbers show that the top ten PEPE holders control a large share of the PEPE market, implying that they have significant influence on the coin’s pricing dynamics. Interestingly, the whales involved in today’s huge transactions are much lower in the ranking, with CoinCarp‘s analysis placing the wallet with 400 billion PEPE tokens as the 83rd largest holding.

Lian comments on the various techniques used by these whales, particularly given their dominant position in the PEPE market. This diversity of approach challenges forecasting their next moves, which are not always synchronized or predictable.

Elon Musk’s effect on PEPE Coin’s popularity

The world of digital currencies, particularly meme coins, has seen a notable shift thanks to the social media activities of icons like Elon Musk and Mark Cuban. Their ability to draw attention to cryptocurrencies such as Dogecoin has proven to be a game-changer, demonstrating the significant impact that celebrity comments can have on these digital assets.

PEPE coin, known for its light-hearted approach, openly admits on its site to being a token created for laughs, with no real value or financial promise attached. It operates without a dedicated team or future plans, emphasizing its role as a source of entertainment rather than a serious investment.

“$PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. the coin is completely useless and for entertainment purposes only.”

However, the allure of meme coins has only grown stronger, fueled by the successes of Dogecoin and Shiba Inu, and amplified by a common fear of missing out among the investment community. Anndy Lian highlighted this trend, noting the eagerness among both seasoned traders and newcomers to catch the next wave of meme coin euphoria.

“The increasing popularity and demand for meme coins, especially after the success of Shiba Inu and Dogecoin, created a FOMO (fear of missing out) effect among investors and traders who wanted to catch the next big wave.”

Even a subtle hint from Elon Musk about posting memes again can energize the PEPE coin market. Musk’s previous tweets, including one featuring Pepe the Frog, the mascot associated with PEPE, have directly influenced the token’s market performance, with his posts capable of causing dramatic price increases, such as a 50% surge within 24 hours observed in May 2023.

This phenomenon showcases the merging paths of internet culture and financial speculation, with celebrity influences shaping the trajectories of cryptocurrencies. As the digital currency world continues to evolve, the role of high-profile figures in influencing market trends highlights an intriguing chapter in the ongoing story of cryptocurrency.

All for the Fun of It

Lian pointed out that figuring out why big investors, or “whales,” decide to put their money into a particular cryptocurrency can be tricky.

“These big investors might be getting into the coin for several reasons. It could be for the thrill of guessing which way its value will go, spreading their investments to include different types of assets, or even just showing their support for meme coins.”

Lian personally views investing in PEPE as a way to back the project and enjoy meme culture. He believes it’s about celebrating the project and its followers.

“Having been around the crypto world for a while, I think if someone’s really after ‘real value’, they might as well focus on traditional stocks. For me, the excitement and fun come from diving into meme coins during a market upswing. It’s not about making money but enjoying the ride. Remember, this isn’t investment advice.”

Conclusion

The recent rise in PEPE’s price highlights a buoyant phase in the cryptocurrency market, drawing attention to the unique allure of meme coins. While the substantial ownership by the top 100 holders raises questions about market influence, PEPE’s blend of investment opportunity and playful engagement continues to captivate a growing audience.

Moreover, it’s crucial to understand that the insights shared here are for educational purposes and should not be taken as financial advice. Thorough research and cautious investment within your means are imperative, especially with the high-risk nature of such investments. Be aware that the landscape lacks certain protections, and there’s a real risk of losing your entire investment in unfavorable conditions. Engaging with meme coins like PEPE involves embracing the community and the culture, while also recognizing the financial risks involved.

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Whitney Anderson
Whitney Anderson
Whitney Anderson is a dynamic technology writer and content creator known for her quick learning and strong interpersonal skills. With a passion for community service and travel, she excels in crafting engaging tech content and leading diverse teams. Whitney is eager to bring her tech expertise and creativity to make a significant impact in your organization.

Why Trust Us

Our editorial policy emphasizes accuracy, relevance, and impartiality, with content crafted by experts and rigorously reviewed by seasoned editors for top-notch reporting and publishing standards.

Disclosure
Purchases via our affiliate links may earn us a commission at no extra cost to you, and by using this site, you agree to our terms and privacy policy.

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