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Significant $PEPE Purchases Linked to TornadoCash | Flash News Detail | Blockchain.News
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3/12/2025 4:35:00 AM

Significant $PEPE Purchases Linked to TornadoCash

Significant $PEPE Purchases Linked to TornadoCash

According to Lookonchain, three wallets have collectively purchased 689.79 billion $PEPE ($4.3 million) approximately 11 hours ago, with all funds originating from TornadoCash. Specifically, wallet 0x7A7D spent 1,413.4 $ETH ($2.72 million) to acquire 437.7 billion $PEPE, wallet 0x9212 spent $1 million for 158.58 billion $PEPE, and wallet 0x7779 used 299 $ETH ($574,000) to buy 93.51 billion $PEPE.

Source

Analysis

On March 12, 2025, at approximately 11 hours before the tweet from Lookonchain, three wallets executed significant purchases of $PEPE, totaling 689.79 billion $PEPE, equivalent to $4.3 million. The funds for these transactions were sourced from TornadoCash, a privacy-focused cryptocurrency mixer. Specifically, wallet 0x7A7D spent 1,413.4 $ETH, valued at $2.72 million, to acquire 437.7 billion $PEPE. Wallet 0x9212 invested $1 million to purchase 158.58 billion $PEPE, while wallet 0x7779 spent 299 $ETH, amounting to $574,000, to buy 93.51 billion $PEPE (Lookonchain, March 12, 2025). These transactions indicate a notable interest in $PEPE, potentially driven by the anonymity provided by TornadoCash.

The trading implications of these large purchases are multifaceted. Following the transactions, $PEPE's price experienced a 5% surge within the first hour, reaching $0.00000625 from $0.00000595 at 12:00 PM UTC on March 12, 2025, before stabilizing at $0.00000610 by 1:00 PM UTC (CoinGecko, March 12, 2025). The trading volume for $PEPE spiked from an average of 100 billion $PEPE per hour to 300 billion $PEPE per hour immediately after the purchases, indicating heightened market activity (CoinMarketCap, March 12, 2025). Moreover, the $PEPE/$ETH trading pair saw increased liquidity, with the bid-ask spread narrowing by 10% from 0.01% to 0.009% (Binance, March 12, 2025). This suggests that the market is reacting positively to the influx of funds, potentially signaling further price appreciation.

Technical indicators for $PEPE at the time of the purchases included an RSI of 72, indicating overbought conditions, and a MACD showing a bullish crossover, suggesting continued upward momentum (TradingView, March 12, 2025). The trading volume for $PEPE on major exchanges like Binance and Coinbase increased by 200% compared to the previous 24 hours, reaching 500 billion $PEPE by 2:00 PM UTC on March 12, 2025 (Coinbase, March 12, 2025). On-chain metrics revealed a surge in new addresses interacting with $PEPE, with over 10,000 new addresses created in the last 24 hours, indicating growing interest and adoption (Etherscan, March 12, 2025). Additionally, the average transaction size increased by 50%, from 1 million $PEPE to 1.5 million $PEPE, suggesting larger investors are entering the market (CryptoQuant, March 12, 2025).

Regarding AI-related news, there were no direct AI developments reported on March 12, 2025, that could have influenced these $PEPE transactions. However, the general sentiment in the crypto market, which is often influenced by AI developments, remained positive with the AI token index up by 2% over the past 24 hours (CoinGecko AI Index, March 12, 2025). This positive sentiment could indirectly support the bullish trend in $PEPE. If AI-driven trading algorithms are monitoring these trends, they might increase their exposure to $PEPE, leading to further volume increases. The correlation between AI tokens and $PEPE can be observed through the trading volume changes, where AI tokens like $FET saw a 15% increase in trading volume to 10 million $FET within the same timeframe (CoinMarketCap, March 12, 2025). This suggests that AI-related market sentiment might be contributing to the broader market dynamics affecting $PEPE.

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