Keith Gill, the stock trader and analyst who fueled the GameStop craze, has fueled a massive rise in meme tokens in the last few days.
The rise in meme tokens caused a revival of excitement among whales, who accelerated their purchases.
According to Spot On Chain's post, whales have accumulated PEPE and FLOKI in the last 24 hours.
Accordingly, controversial market maker DWF Labs, which has not purchased FLOKI for more than a year, purchased FLOKI from Binance again.
Secondly, a whale that was very successful in PEPE trading also bought PEPE worth $4.2 million. This whale has traded PEPE twice before, making a total profit of over 100% both times.
“Smart investors have been accumulating PEPE and FLOKI in the last 24 hours! Is Memecoin season returning?
1. DWF Labs withdrew 2B FLOKI ($394 thousand) from Binance.
Notably, this acquisition marks DWF Labs' first FLOKI acquisition in over a year.
2.Smart investor 0x37d withdrew 407.74 billion PEPE (worth $4.2 million) from Binance as the 3rd transaction 19 hours ago and has now earned $292 thousand (+6.95%).
This whale has made a total profit of $3.59 million (+100%) from 2 successful PEPE trades in the past.”
IntoTheBlock also shared in his post that 100% of PEPE holders made a profit after the rise.
100% of $PEPE holders are currently in profit pic.twitter.com/nbNp3esIlu
— IntoTheBlock (@intotheblock) May 14, 2024
With a 7% increase in the last 24 hours, PEPE continues to trade at $0.00001039 at the time of writing.
*This is not investment advice.
