- This PEPE Coin price surge aligns with increased interest from major holders, or whales, as indicated by recent derivatives data, reflecting growing confidence in the cryptocurrency.
- Noteworthy whale activity surrounding PEPE has been observed, with significant withdrawals from exchanges like Binance, totaling billions of tokens and millions of dollars.
Today, Pepe Coin (PEPE), the prominent frog-themed meme coin, has experienced significant momentum, with its price soaring by over 20% in the last 24 hours. As of press time, the PEPE Coin price is trading at $0.000007394 with a market cap of over $3.11 billion.
This surge coincides with heightened interest from major holders, or whales. Furthermore, recent derivatives data indicates a shift in investor focus towards Pepe Futures, underscoring growing confidence in the cryptocurrency, per the Crypto News Flash report.
Recent insights from Spot On Chain, an on-chain transaction monitoring platform, reveal substantial whale activity linked to the meme coin PEPE. Their latest report indicates a significant uptick in whale accumulation of PEPE Coins, signaling a noteworthy shift in market sentiment.
Spot On Chain’s analysis underscores a significant withdrawal of PEPE tokens by a prominent whale, identified as 0x546. This whale withdrew a staggering 331.3 billion PEPE tokens from Binance, totaling approximately $2.24 million, at a rate of $0.00000675 per token.
This transaction gains added significance due to the connection between whale 0x546 and another savvy trader, 0x1c6. It has come to light that both entities utilized the same Binance deposit address.
Interestingly, Smart trader 0x1c6 had previously divested all UNI holdings just before a substantial price decline on April 10, 2024. This move resulted in an estimated profit of $6.99 million, reflecting an impressive return on investment of 70.7%.
PEPE Coin Whale Activity
The recent collaboration between whale 0x546 and Smart trader 0x1c6 has led to the withdrawal of an impressive 660.7 billion PEPE tokens, amounting to $4.57 million, from both Binance and MEXC exchanges. These transactions unfolded at an average rate of approximately $0.00000692 per token over the past three days.
This surge in whale activity highlights a growing enthusiasm for PEPE among high-volume traders. The concerted efforts of these parties to amass substantial quantities of PEPE tokens indicate a bullish sentiment toward the coin’s future prospects.
As whales continue to exert their influence in the crypto market, their strategic moves serve as important signals for astute investors. The accumulation of PEPE tokens by notable entities like Whale 0x546 and Smart Trader 0x1c6 may suggest an upcoming uptick in the meme coin’s value, sparking further speculation and engagement from traders.
On the other hand, Revolut, the leading financial and crypto app in the UK, has witnessed a notable shift in its customers’ cryptocurrency portfolios, with Pepe now surpassing Ethereum (ETH/USD) in terms of total holdings.
According to data sourced from cryptocurrency trader degenharambe, referencing the company’s wallet, Revolut customers’ PEPE holdings have surged by 309%, translating to a staggering 1,700% increase in dollar value from the beginning of the year (2.73 trillion PEPE coins valued at $3.55 million) to the present (8.46 million PEPE coins valued at $61 million).