Justin Sun Quietly Builds $51M $PEPE Position, Becoming Its Largest Identified Individual Holder

Justin Sun has reportedly become the largest identified individual holder of $PEPE, according to blockchain intelligence firm Arkham.
Wallets officially attributed to Sun, alongside addresses Arkham predicts he controls, collectively hold approximately $51.25 million in PEPE, representing 2.82% of the token's total supply.
The accumulation has been aggressive. Two withdrawals from Poloniex on October 17 and 26 reportedly transferred $48.76 million worth of PEPE to the identified wallets.
Before October 17, those holdings were valued at just $267,000.
Sun also transferred approximately $77 million in stablecoins to Poloniex during October 15–25, although those transfers do not independently establish how the funds were used.
Only exchange wallets reportedly hold larger PEPE balances.
The question now is whether this concentration signals long-term conviction or creates additional market risk if the holdings are eventually sold.