The broader market has not been favorable to memecoins like PEPE and WIF. However, whales have used the opportunity as a discount to buy more.
In the past 24 hours, memecoin whales have made tremendous moves, acquiring a staggering 375 billion PEPE and 15 million dogwifhat (WIF) tokens worth approximately $16 million.
According to on-chain data from Spotonchain, these large-scale transactions were executed on Binance, stimulating excitement among traders and market enthusiasts.
Is This a Strategic Buy-The-Dip Move?
Notably, a whale with the address ‘0xf37’ accumulated 375.35 billion PEPE (valued at $3.73 million), while the whale ‘4x3M8’ secured 9 million WIF (worth $7.42 million).
Additionally, the whale marked ‘A3kTT’, which had been inactive for two years, made a strong comeback with a $5.19 million purchase of WIF. This surge in whale activity has fueled speculation that PEPE and WIF could be gearing up for a bullish run.
Whales are scooping up #memecoins $WIF and $PEPE from #Binance today!
1️⃣ Whale “0xf37” withdrew 375.35B $PEPE ($3.73M) 3 hours ago. This is the whale’s first accumulation.
2️⃣ Whale “A3kTT” returned after 2 years of dormancy and withdrew 6.5M $WIF ($5.19M) 9 hours ago.
3️⃣ Whale… pic.twitter.com/OJka2UvnCp
— Spot On Chain (@spotonchain) February 6, 2025
While the sudden influx of whale purchases has generated optimism, the broader crypto market has faced turbulence in recent weeks.
For instance, Bitcoin has declined by nearly 6% since the end of January, dragging many altcoins down. PEPE dropped by approximately 26% during this period, while WIF suffered an even steeper 29% decline.
According to analysts, these price dips presented a discount opportunity for whales looking to accumulate tokens at lower prices.
Crypto Experts Weigh In: What’s Next for PEPE and WIF?
Despite recent volatility, some well-known crypto analysts and influencers remain bullish on PEPE and WIF.
For example, “SlumDOGE Millionaire” revealed that he has gone “all in” on PEPE. He claimed he has sold all his ETH holdings to accumulate nearly 1 billion PEPE tokens. Meanwhile, crypto influencer Jake Gagain predicts PEPE will “pump the hardest in 2025,” reinforcing long-term optimism.
WIF has also attracted bullish sentiment. Notably, the well-known trader ‘The Cryptomist’ pointed out that WIF is forming an ascending triangle, a technical pattern that could signal an upward breakout. If the token surpasses key resistance, it predicts an initial target of $1.10.
Meanwhile, WIF trades at $0.8099, following a 2% dip. However, its 24-hour price range suggests strong buying interest, hinting at a possible rebound.
It’s worth noting that WIF experienced an impressive surge of nearly 35% in November 2024 after Coinbase teased the token’s listing on its official X account as part of its updated roadmap. Proponents sees related catalyst ahead soon.
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