Pepecoin (PEPE), traders are not fazed by recent price corrections and continue to add their tokens, indicating a bullish price movement for the tokens over the next few weeks.

Lookonchain, an on-chain analytics tool, said that during a price drop of nearly 50%, three whales – a colloquial word for large holders of tokens – began to accumulate pepes tokens this week.

Lookonchain tweeted that “3 whales began to buy $PEPE once the price dropped.” “0x50C1 withdrawn 1.4T $PEPE (2.76M) when the price was $0.000002054 from #Binance.”

“0x2Baa purchased 212B $PEPE ($429K) and 223 $ETH ($412K) for $0.000001942. “0x3AE8 purchased 424B $PEPE ($864K) and 450 $ETH ($831K) for $0.000001957,” said the firm, pointing out each wallet.

CoinGecko Data shows that PEPE saw over $420,000,000 traded in the last 24 hours, as prices dropped steeply and then rebounded.

Data shows that trading volumes have shifted away from the decentralized exchange Uniswap and towards the crypto exchange Binance since Binance listed the tokens last week in its Innovation Zone.

Binance has significantly lower fees per trade and is more accessible to retail traders. Binance is likely to be the reason, as it offers greater accessibility to retail traders. Binance also charges significantly lower fees per trade – compared with an average of 35 dollars per PEPE trade at Uniswap on Wednesday due to network demand and a fee spike.

DEXTools data also shows that pepe token holders have crossed the 100,000 mark, which indicates a continued buying activity, despite the price drop and the possibility of a reversal in the meme coin’s value over the next few weeks.

Data shows that the largest holders of pepecoins have unrealized profits ranging from $4 million up to $9 million.

Parikshit Miishra is the editor.