Pepe Whale Movements! Increased holdings surge, but long-term holders quietly retreat!
Pepe, a token inspired by the ultra-popular 21st-century meme 'Pepe the Frog', has been experiencing constant turmoil lately! The activities of whales and the composition of holders are undergoing a dramatic change!
According to the amazing data from IntoTheBlock, the sentiment among large holders of Pepe can change in an instant! From a net outflow of 534 billion PEPE on December 3rd, it swiftly transformed into a net inflow of 580 billion PEPE! This momentum is sure to trigger a FOMO (fear of missing out) battle among retail investors!
What’s even more explosive is that a mysterious Pepe whale has been quietly accumulating for 20 days on Binance, withdrawing a whopping 337 billion PEPE tokens in one go! These tokens are now worth 7 million dollars! Just thinking about it makes one salivate! Moreover, this whale made a significant move on November 14th, accumulating 4.7 trillion PEPE coins all at once, pushing the price up to $0.000023! Unfortunately, since then, the price of this meme coin has been hovering below that level.
However, the outlook for mid-term and long-term Pepe holders is not very optimistic. According to ITB's data, the number of people holding this meme coin for over a year has dropped from 91,200 on November 11th to 89,000 on December 3rd. Even those holding for 1 to 12 months, known as Cruisers, saw a sharp decline from 200,000 to just 89,000 yesterday. In contrast, those who have held for less than a month have surged by 262% in the last 30 days, reaching 72,000 unique addresses!
Currently, Pepe's price is lingering around $0.000020, with a market cap of 8.69 billion dollars. The 24-hour trading volume has also decreased by 1%, now at only 3.48 billion dollars.
So unless there’s another wave of whale accumulation, the bullish momentum for PEPE is likely to be hindered by these short-term traders. This meme coin is currently in a highly unstable state! Let’s wait and see what happens next!
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