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Over the past ten days, the volume of PEPE tokens in wallets associated with Tron founder Justin Sun has approached $49 million, according to analysts from the Arkham platform. These purchases have made Sun the largest investor in the meme coin, Arkham claims.
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Altogether, 2.82% of the total PEPE supply, valued at $51.25 million, is concentrated in the crypto businessman’s addresses tracked by analysts.
The movement of tokens can be traced through several trading platforms. According to Arkham, Sun’s first PEPE purchase was made on the Binance exchange. The tokens were then sequentially moved through Poloniex and HTX, returned to Poloniex, and were subsequently credited to wallets that Arkham associates with the Tron founder. On Arkham’s public page, it is specified that $32 million in PEPE represents assets in wallets that the platform classifies as confirmed and definitely belonging to Sun.
However, according to analyst estimates, PEPE tokens account for only about 2.2% of Sun’s total on-chain capital, estimated at $2.3 billion. The largest asset is TRX, the native tokens of the Tron network. Sun owns more than 60 billion TRX. Additionally, analysts believe the entrepreneur holds approximately 17,000 BTC and 224,000 ETH, although the amounts in confirmed wallets are significantly lower.
The meme coin PEPE operates on the Ethereum network and is dedicated to a frog character created by artist Matt Furie in the early 2000s. The cryptocurrency was launched by anonymous developers in April 2023.
In early April 2026, investment company Canary Capital filed an application with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) linked to PEPE.
