PEPE Coin Whale Buys 300B Tokens, Price Rally Soon?
Crypto fans are interested in a major Pepe Coin (PEPE) transaction. A PEPE whale bought over 310 billion tokens during the collapse. This action has spurred anticipation of a Pepe Coin crypto price rebound, which began today with big increases.
Latest Pepe Coin Whale Accumulation
SpotOnChain data shows that a fresh wallet opened 13 hours ago withdrew 309.6 billion PEPE tokens worth $6.45 million from KuCoin at $0.00002082. This massive buy shows increased interest in memecoin despite market volatility.
PEPE whale behavior generally precedes price volatility. This accumulation suggests trust in the token's future, spawning price recovery speculation. A significant portion of the token's circulating supply was purchased. Long-term holding or deliberate redistribution might boost Pepe Coin price.
Pepe Coin fluctuated in 2024, following memecoin market patterns. This buildup of whales might cause FOMO (fear of missing out) among lesser investors, increasing demand. Market sentiment and trade volume affect PEPE's pricing.
The wallet was created soon before the purchase, suggesting insider information or a planned bet on PEPE's potential. This move has PEPE holders optimistic, but investors should be wary. Whale transactions may cause price volatility in memecoins, which are speculative.
PEPE Price Action
Pepe Coin price broke its recent downtrend today and traded at $0.00002036, gaining 1.19% at the time of writing on Friday, November 22. The popular frog-faced memecoin has risen over 105% in 30 days, signaling market optimism. Thus, the market is expected to closely monitor next whale moves to gauge the token’s trajectory.