Why Crypto Whales Are Targeting These 2 Altcoins Amid the Market Crash

Jakarta, Pintu News – After the latest market crash that wiped out nearly $500 billion of total capitalization, big investors who used to move millions of dollars worth of crypto assets are rushing back into some key coins.

According to the latest data from Lookonchain, an on-chain analytics platform, a number of whales were seen quietly accumulating Hyperliquid (HYPE) and Pepe (PEPE) tokens, despite general market conditions still being unstable and full of uncertainty.

Crypto Whale Back in Action with Millions of Dollars in Capital

While most retail traders are still reeling from the market crash, the whales are doing the opposite – seizing the moment to buy the dip.

Read also: ASTER Airdrop Postponed to October 20 as Community Voices Outrage Over Token Distribution

Based on data from Lookonchain, a whale wallet address called qianbaidu.eth was recorded as withdrawing 657.8 billion PEPE tokens worth approximately $4.44 million from Binance.

Not stopping there, the same address also sent 8.67 million USD Coin (USDC) to Hyperliquid, which was then used to purchase HYPE tokens.

In addition, another large investor with the address 0x2bfb reportedly poured about $4.97 million USDT to buy 600.88 billion PEPE tokens, confirming that the appeal of meme coins is still very strong among the largest whale wallets.

Spotlight on HYPE – A Rising Star that’s Starting to Shine

A third Whale with the address 0x9b83 joined the massive buying spree by purchasing 140,145 HYPE tokens worth nearly $5.5 million.

Interestingly, this whale didn’t stop there – it also opened long positions on Bitcoin (BTC) and HYPE, showing strong bullish confidence despite the market having just experienced a sharp correction.

On-chain data shows that the wallet’s total holdings now exceed $14 million, with the largest portion allocated to HYPE, making it one of the largest whale positions in the token.

Read also: While the Market Panics, Crypto Whales See Opportunity in XRP — A Big Rebound Ahead?

HYPE & PEPE Token Analysis

With whales actively buying again, the market’s attention is now on how these two tokens will react next. Currently, HYPE’s price is down almost 10% on the day to around $40.27, and is testing the support area between $40-$44.

If it is able to hold and bounce off this zone, HYPE could potentially climb back towards $50 in the coming weeks.

Meanwhile, the price of PEPE is still heavily influenced by market sentiment and community hype. The token faces strong resistance around $0.00000725, and a clear breakout above that level could open the way towards $0.00000750.

The RSI indicator is currently slightly above neutral levels, signaling a possible short-term rebound, but also signaling that market volatility could increase again in the near future.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. Crypto Whales Are Buying Hype and Pepe After Market Crash. Accessed on October 13, 2025