PEPE is back in the spotlight as whale investors capitalize on the recent dip. Currently trading at $0.00000718, PEPE has seen a 3.68% drop in the past 24 hours despite an earlier surge of over 5%.
According to data from IntoTheBlock (ITB), large PEPE transactions have surged by over 131% in the last 24 hours, resulting in a staggering $76.3 million worth of whale transactions. A total of 10.21 trillion PEPE tokens were involved in these trades, with 120 whale transactions—those valued over $100,000—recorded. In the past week alone, this number surpassed 200.
Key Insights:
- Whale Accumulation: PEPE’s ongoing attraction to whale investors suggests confidence in its undervaluation. This pattern of accumulation could indicate a potential rally on the horizon.
- Profitability Stats: ITB reports that 49% of PEPE holders are in profit, with another 11.11% breaking even. Only 39% of holders are currently at a loss, making PEPE one of the more profitable meme coins available.
- Comparisons to SHIB: Despite having limited utility compared to Shiba Inu’s Shibarium, PEPE’s current profitability and whale interest make it a compelling option for long-term investors.
Outlook:
While the PEPE development team has yet to announce any significant updates, whale confidence is driving a renewed interest in the token. If the trend continues, PEPE could see further upward momentum as more investors view its current price as a buying opportunity.
