After the recent market crash that wiped nearly $500 billion in value, large investors who move millions in digital assets wasted no time jumping back into key coins. Recently, data from Lookonchain, an onchain analytical platform, shows that large holders are quietly buying up HYPE and PEPE, even as most of the market remains shaky.
While most retail traders are still shaken by the crash, whales seem to be doing the opposite, buying the dip. According to Lookonchain, a whale address named qianbaidu.eth withdrew a massive 657.8 billion PEPE tokens, worth about $4.44 million, from Binance.
Not stopping there, the same address also sent 8.67 million USDC to Hyperliquid, which was later used to buy HYPE tokens.
Another large investor, identified as 0x2bfb, reportedly spent around $4.97 million USDT to scoop up 600.88 billion PEPE, showing that meme coins still hold strong appeal among the biggest wallets.
A third whale wallet, 0x9b83, joined the action by purchasing 140,145 HYPE tokens valued at nearly $5.5 million. Interestingly, this whale didn’t stop there, they also opened long positions on Bitcoin (BTC) and HYPE, showing clear bullish confidence even after the market’s sharp correction.
On-chain data reveals that the wallet’s total holdings now stand above $14 million, with a major portion allocated to HYPE, making it one of the largest whale positions in the token.
With whales buying again, all eyes are on how these tokens react next. As of now, HYPE has fallen nearly 10% in a day to around $40.27, now testing support between $40–$44. However, a rebound from this zone could push the token back toward $50 in the coming weeks.
Meanwhile, PEPE’s price remains driven by hype and market mood. The token faces strong resistance near $0.00000725, and a clear breakout could open the way to $0.00000750.
The RSI sits just above neutral, hinting at a possible short-term rebound, but also signaling that volatility may return soon.
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