PEPE Soars 17% Daily: Did Justin Sun Fuel the Pump?

PEPE traded near $0.000005 on October 28 after a 24-hour rise that pushed its market capitalization above $2 billion and outperformed bitcoin, ether and XRP. The X account BSCN, citing Arkham Intelligence, reported that TRON’s Justin Sun, described as a Chinese businessman, now holds 11.85 trillion PEPE worth more than $51.2 million, or about 2.82% of circulating supply, most acquired through two large Poloniex withdrawals on October 17 and October 26. BSCN noted that Poloniex is connected to Sun’s wallet, so the transfers may have been internal rather than new market purchases; his holdings had been worth about $267,000 until mid-October.