On-chain analytics firm Santiment reported that Pepe (PEPE) recorded a 61% week-over-week surge in whale transactions — transfers exceeding $100,000 — placing the memecoin eighth among digital assets with at least $500 million in market capitalization.
Whale Transfers Spike
Santiment published its weekly ranking of the 10 cryptocurrencies with the largest percentage increases in Whale Transaction Count, a metric tracking on-chain transfers valued above $100,000. Mantle (MNT) led the list with a 600% jump. The BNB (BNB) version of Dai (DAI) followed at 340%, and Maker (MKR) came in third at 200%.
Pepe, which initially gained traction through its association with the widely recognized internet frog meme, ranked eighth with a rise of more than 60%. The memecoin had largely faded from headlines in recent weeks, making the sudden uptick in large-holder activity notable.
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Why It Matters
Historically, sharp increases in whale transaction volume have preceded periods of heightened price volatility, as large holders can move markets through sheer transaction size. Pepe and several other assets on the list have already experienced notable price swings in recent days, suggesting the elevated whale activity may be contributing to that movement.
The two largest assets by market cap on the ranking — USDT (USDT) on Optimism and USDC (USDC) on BNB — posted increases of 58% and 57%, respectively.
Stablecoin whale activity often signals that large investors are either staging capital for deployment into Bitcoin (BTC) and other volatile assets or pulling funds into safety ahead of expected turbulence.
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