Justin Sun builds ~$51M PEPE position in 10 days, nearing 3% of supply
- —Combined PEPE holdings of about 2.82% of supply, the largest outside exchanges
- —11.85 trillion PEPE pulled from Poloniex on Oct. 17 and Oct. 26, worth $48.76M at withdrawal
- —Position now valued near $51M, implying over $2M in unrealized gains
- —Sun moved $77M in stablecoins to Poloniex between Oct. 15 and Oct. 25
Why it matters: A single high-profile holder controlling nearly 3% of PEPE's supply raises the risk of sharp volatility whenever those wallets move.
Source: PANews