Justin Sun owns approximately 2.82% of PEPE’s total supply, worth $51.25 million, making him the memecoin’s largest individual holder. The tokens were accumulated within ten days in his official and predicted wallets after two withdrawals of $48.76 million in PEPE from Poloniex on October 17 and 26, followed by transfers through Binance, Poloniex and HTX. Over the same period, PEPE rose by more than 15%, including an 11.5% gain this week, while the memecoin’s market capitalization reached $1.81 billion. Sun’s holdings, close to the $54 million in perpetual open interest on Gate.io, could indicate that spot demand is playing a growing role in the rally, with $0.000005 representing an important resistance level.
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