PEIn a whirlwind of market activity, PEPE whales have emerged as prominent players in the meme coin arena, triggering a remarkable 13% surge in PEPE's price over the past 24 hours. After a period of consolidation lasting more than a month, the meme coin adorned with the beloved internet frog avatar experienced a sharp decline, following in the footsteps of Bitcoin and Ethereum. However, a recent upward trajectory has investors hopeful for a potential retest of previous highs, thanks to the notable moves made by two influential PEPE whales.
PEPE Whales Drive the Surge:
Fueling the recent surge in PEPE's price are two prominent investors known as PEPE whales, whose actions are closely monitored by the Twitter account Lookonchain, dedicated to tracking smart-money activities. The first whale, operating under the alias "yougetnothing.eth," has shown enthusiasm for altcoin trading in recent months. This savvy investor made a substantial purchase of approximately 874 billion PEPE using 600 ETH (valued at $1.12 million). With the meme coin's price at around $0.000001280 during the transaction, this whale has already realized a significant profit of over 9%.
The second whale, while a bit slower to act, also made a noteworthy move by acquiring 658 billion PEPE with 500 ETH (worth $938,000) when the meme coin was trading at around $0.000001360. Though their gains currently stand at a respectable 3%, they fall short compared to the impressive returns of the first whale. #DOGECOIN $DOGE #ETH $ETH
PEPE's Recent Performance:
The recent upswing in PEPE's fortunes coincides with a bullish run for the original meme coin, Dogecoin, which has seen a remarkable 15% gain in recent times. Despite PEPE still being in the red over the past week, the sharp 13% surge has significantly improved its standing in the wider cryptocurrency market. As of now, PEPE holds the 71st spot on the market cap list, with a total valuation of approximately $552 million. #PEPE #PEPECOIN $PEPE #MEMECOINS
Current Price and Expectations:
At the time of writing, PEPE is trading around $0.000001400, reflecting the substantial 13% growth experienced in the last 24 hours. The cryptocurrency community is eagerly waiting to see if this momentum can be sustained and whether PEPE can reclaim its former glory in the days to come. As the PEPE whales continue to make waves in the market, the future of this beloved internet frog-adorned meme coin remains uncertain but filled with hope for potential gains.
