Wallets linked to Tron founder Justin Sun now hold about 2.82% of the total supply of Pepe ($PEPE), according to data from Arkham Intelligence. The stake totals roughly 11.85 trillion tokens,
Wallets linked to Tron founder Justin Sun now hold about 2.82% of the total supply of Pepe ($PEPE), according to data from Arkham Intelligence. The stake totals roughly 11.85 trillion tokens, worth about $51.25 million. The position was built in around ten days.
Most of the tokens arrived through two large withdrawals from Poloniex, an exchange associated with Sun. The first came at 14:29 UTC on October 17 with 7.2 trillion PEPE worth $28.44 million. The second followed at 15:54 UTC on October 26 with 4.65 trillion tokens worth $20.32 million.
Before the first transfer, Sun's known holdings were small. Prior to October 17, he held approximately $267,000 worth of PEPE, or 68 billion tokens.The two batches totaled 11.85 trillion tokens worth $48.76 million at the time of withdrawal, and now carry an unrealized gain of over $2 million.
The route the tokens took was indirect. On-chain data shows the tokens were initially bought on Binance and entered his wallet only after being transferred through Poloniex and HTX.During the same period, Sun moved $77 million in stablecoins to Poloniex in six installments between October 15 and 25. However, Arkham did not establish that this money paid for the PEPE.
Arkham's figure combines Sun's labeled wallets with one address it speculates belongs to him, and no one outside exchanges holds a larger share. That makes him the largest individual holder of the memecoin, according to Arkham's data. For scale, PEPE's market capitalization was approximately $1.81 billion when Arkham flagged the position on October 27.
The attribution carries uncertainty. Poloniex is tied to Sun, so some of the movements may have been internal transfers rather than fresh market purchases. The figures reflect the wallets Arkham has tied to him, not a statement from Sun himself.
Analysts also note limits on what the data shows. The on-chain record reveals only the amount transferred, the wallet's total assets and the calculated unrealized profit, so it cannot be concluded that the transaction will push the PEPE price higher. For traders, the useful signal is any movement from those wallets back toward an exchange.
Whether Sun intends to hold the position or has other plans for it has not been disclosed.
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