Wallets Associated With Justin Sun Hold 2.82% of PEPE Supply

Wallets associated with Justin Sun held 2.82% of PEPE's supply as of Oct. 27, a position worth about $51 million and collectively the largest holding outside exchanges.

Several wallets are associated with Sun, and the figure also includes address 0x721, whose connection to him is uncertain.

The wallets received 11.85 trillion PEPE in two withdrawals from Poloniex dated Oct. 17 and Oct. 26. The tokens were worth $48.76 million when withdrawn. Before those transfers, the wallets attributed to Sun held about $267,000 in PEPE.

The tokens were first bought on Binance, then moved through Poloniex and HTX before reaching the wallets. As of Oct. 27, the position showed more than $2 million in unrealized gains. An unrealized gain is a paper increase in value while an asset remains held.

Separately, Sun transferred $77 million in stablecoins to Poloniex between Oct. 15 and Oct. 25.