Justin Sun-Linked Wallets Hold $51.25 Million in PEPE, Arkham Data Shows
Wallets linked or tentatively attributed to Justin Sun hold approximately $51.25 million worth of PEPE, equivalent to 2.82% of the token's total supply, according to blockchain intelligence platform Arkham, according to as reported by Wu Blockchain. The holdings could make Sun the largest individual holder of PEPE, although the wallet attribution remains subject to uncertainty.
Arkham's reported data also points to substantial transfers between Poloniex and wallets associated with Sun during October. Two transfers involving PEPE, recorded on October 17 and October 26, were valued at approximately $28.44 million and $20.32 million, respectively. Together, the transactions amounted to $48.76 million.
PEPE Transfers Between Poloniex and Sun-Linked Wallets
The two transfers represent a significant portion of the activity identified in Arkham's tracking of wallets associated with Sun. The combined $48.76 million value is close to the approximately $51.25 million in PEPE holdings attributed to those wallets, although the figures describe different measures: the value of reported transfers and the value of the identified holdings.
The October 17 and October 26 transactions also provide a timeline for examining the movement of PEPE between the exchange and the associated wallets. However, the reported figures alone do not establish the purpose of the transfers or whether they reflect purchases, withdrawals, internal wallet movements or another type of transaction.
Arkham's attribution is also important when interpreting the figures. The platform has labeled or tentatively linked the wallets to Sun, meaning the reported holdings should not automatically be treated as independently confirmed personal ownership.
Stablecoin Transfers to Poloniex
Alongside the PEPE movements, wallets already labeled as belonging to Sun transferred approximately $77 million in stablecoins to Poloniex between October 15 and October 25, according to the information reported by Wu Blockchain.
The stablecoin transfers occurred during a period markets that included the October 17 PEPE transaction and preceded the October 26 transfer. The reported chronology establishes that both types of activity took place within a relatively short period, but it does not by itself demonstrate that the stablecoin movements directly financed the PEPE transfers.
The information also indicates that some of the PEPE had previously moved between Binance, HTX and Poloniex. These movements add further exchange activity to the reported transaction history, although the available details do not specify the amounts involved in each earlier transfer or establish the ultimate purpose of the movements.
What the Reported PEPE Holdings Mean
If the wallet attribution is accurate, a combined holding of $51.25 million would represent 2.82% of PEPE's total supply, giving the associated wallets a substantial position in the token. The reported percentage also provides a measure of the holdings relative to the entire supply, rather than simply expressing their value in dollar terms.
Nevertheless, wallet attribution and token ownership are separate questions. Blockchain transaction records can show transfers between addresses, while identifying the individual or entity controlling those addresses may require additional evidence. Arkham's tentative attribution therefore remains a relevant qualification when assessing the reported concentration of PEPE holdings.
The figures reported by Wu Blockchain include the approximately $51.25 million PEPE position, the two October transfers totaling $48.76 million, and approximately $77 million in stablecoin transfers to Poloniex between October 15 and October 25. The reported PEPE movements also involved Binance, HTX and Poloniex.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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