Despite the broader cryptocurrency market downturn, notable whale activity has been observed in the memecoin PEPE. Blockchain trackers reveal a significant withdrawal from Binance by the wallet labeled 0x6ea, involving a massive purchase of 1.79 trillion PEPE tokens valued at over $22 million. However, this large buy didn’t stop the token’s price from further dropping, reducing the whale’s holdings to approximately $21.9 million. This action follows a recent market correction where PEPE dropped by 8% in just 24 hours, trading around $0.00001222. This trend has impacted other memecoins like Pi Coin, which suffered a steeper decline of 11% on the day. However, amidst this sell-off, larger players seem to be taking advantage by accumulating substantial amounts of PEPE at discounted prices. This raises questions about their strategies – are they betting on a future rebound or have they developed a deeper market understanding?