During the bull market cycle, Pepe Coin whales have been continuously increasing their holdings of the frog-themed meme token, creating a wave of optimism among global investors. On Wednesday, on-chain data showed that whales continue to hold the meme token, having accumulated a total of 337.09 billion PEPE so far. Meanwhile, other data indicates a growing interest in the asset, as cryptocurrency market enthusiasts still anticipate a potential 7-fold surge.
Pepe Coin whales are increasing their holdings vigorously, and the cryptocurrency market is bullish.
According to data from Lookonchain, Pepe Coin whales continue to accumulate the frog-themed meme token, indicating increased market interest. Notably, wallet address 0x160…b5B purchased 33.709 billion PEPE from Binance over the past 20 days, valued at $6.92 million. In turn, this massive accumulation has brought an optimistic wave to the token, marking an increase in buying pressure.
Meanwhile, Etherscan data shows that as of the report time, the number of holders of this asset has been gradually increasing. According to the data, nearly 334,000 addresses hold Pepe Coin, which has sparked optimism in the context of a bullish cryptocurrency market in the fourth quarter.
Additionally, it is worth mentioning that this top meme token has recently been hosted on Coinbase Prime. This enhanced issuance further paves the way for capital inflow into the token, attracting a broad range of investors. At the same time, the ongoing bull market for the frog-themed meme cryptocurrency reflects the bullish sentiment in the market following an increase in buying volume and enhanced issuance.
Will the price of PEPE soar 7 times?
As of the time of this writing, the price of PEPE has risen nearly 0.5%, trading at $0.00002065. Its intraday low and high prices are $0.00001908 and $0.00002104, respectively. Additionally, the weekly and monthly charts for the token show gains of 12% and 154%, respectively. In summary, the bullish trajectory and subsequent increase in buying volume have solidified investor optimism for further rises in the meme token.
Interestingly, a recent price analysis by CoinGape indicates that the PEPE meme coin could further rise by 7 times, significantly expanding its gains. This bullish analysis is also attributed to the increased holdings by Pepe Coin whales, which reportedly have accumulated over 100 trillion coins.
Overall, the aforementioned data paints a highly bullish outlook for the frog-themed meme token, indicating that as market interest continues to grow, the token may rise further. Market observers continue to monitor the token, primarily reflecting a bullish sentiment regarding future trends.
