The meme coin sector is drawing renewed attention after a notable on-chain move by trader dimethyltryptamine.eth, who acquired 45.08 billion PEPE for roughly $206,500. The purchase came after a substantial sell-off tied to a Binance hack, suggesting that at least some large traders see the post-turmoil price level as an opportunity. The same trader previously made headlines for accumulating 5.9 trillion PEPE at low cost, reinforcing the view that this is a strategic bet on the token’s future potential.
The activity has also been amplified by social sentiment. Crypto influencer RookieXBT posted that $PEPE “seems to be on crack,” a comment that quickly drew 218 likes and 13 retweets. Although reported trading volume remains unusually low, the combination of a high-profile purchase and rising community chatter could create conditions for renewed volatility. Traders are watching whether PEPE can hold key support levels and whether the social media buzz translates into actual buying pressure.
Broader crypto market conditions remain mixed, and the Binance hack continues to weigh on sentiment across meme-based assets. Still, the apparent confidence shown by dimethyltryptamine.eth may encourage other speculative traders to reassess PEPE. The episode highlights how quickly meme coin narratives can shift when notable wallets and influencers move simultaneously.
