Justin Sun now holds more PEPE than any other individual, according to blockchain analytics firm Arkham Intelligence. His attributed wallets contain $51.25 million worth of the frog-themed meme token.
The TRON founder did not get there slowly. Most of the stake came together in about 10 days, which is fast even by meme coin standards.
Arkham’s data puts Sun’s share of PEPE’s total supply at roughly 3%, with estimates ranging from about 2.82% to 3%.
How the stake came together
The accumulation shows up in two large withdrawals from the Poloniex exchange. Together they moved 11.85 trillion PEPE tokens into wallets Arkham links to Sun.
The first came on October 17, when 7.2 trillion PEPE left Poloniex. That batch was valued at $28.44 million at the time.
The second landed around October 26 or 27, with 4.65 trillion PEPE worth $20.32 million moving out. Combined, the two transfers came to $48.76 million when they happened.
Before mid-October, Sun had only minor exposure to the token. His PEPE position was worth around $267,000.
The on-chain trail also shows where the tokens traveled. According to the research, the PEPE was first bought on Binance, then moved through Poloniex and HTX before settling in Sun’s attributed wallets.
Stablecoins were moving at the same time. Sun sent $77 million in stablecoins to Poloniex during the same window.
The bigger picture on PEPE and Sun
When Arkham flagged the position on October 27, 2026, PEPE’s market capitalization was approximately $1.81 billion. Sun’s $51.25 million stake is a noticeable slice of that.
He still isn’t the biggest wallet overall. Major centralized exchanges hold the largest shares of PEPE supply. Among individuals, though, Sun is now first.
This is also a small piece of a much larger portfolio. As of October 12, Arkham had tagged approximately $2.25 billion in on-chain assets tied to Sun across multiple blockchains.
Arkham’s work depends on attribution, which means linking wallet addresses to real people or entities. The figures here reflect the wallets Arkham has tied to him, not a statement from Sun himself.
What this means for PEPE holders
When one individual controls roughly 3% of a token’s supply, that holder can move the price. Meme tokens are especially exposed because their order books can be thinner and their communities quicker to react than in larger, more established assets.
So far no sales have been reported since the accumulation. The tokens appear to be sitting in Sun’s attributed wallets rather than on exchanges.
For traders, the useful signal is any movement from those wallets back toward an exchange. Large deposits to trading venues often come before sales, while tokens left in cold storage suggest the holder is staying put. Sun’s past withdrawals from Poloniex are what showed the accumulation in the first place, so a reverse flow would be just as telling.
The route the tokens took is also worth noting. The PEPE moved through Binance, Poloniex and HTX before reaching Sun’s wallets.
The parallel $77 million stablecoin transfer to Poloniex suggests the buying could have had more capital behind it, but the on-chain record shows transfers, not intentions.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.