Pepe the Whale is making big moves! A wave of accumulation is coming, but long-term holders are quietly leaving!
This Pepe token, inspired by the super popular meme 'Pepe the Frog' of the 21st century, has been rife with turmoil recently! The activity of whales and the movements of holders are unpredictable!
According to data from IntoTheBlock, the attitudes of Pepe's large holders can change at any moment! On December 3rd, there was a net outflow of 534 billion PEPE, which suddenly turned into a net inflow of 580 billion PEPE! This wave is scaring retail investors into a buying frenzy (FOMO)!
Even more astonishing, a mysterious Pepe whale has quietly accumulated 337 billion PEPE tokens over 20 days on the Anbi Exchange! These tokens are currently worth 7 million dollars, but just thinking about it makes one drool! Furthermore, this whale made a big move on November 14th, accumulating 4.7 trillion PEPE at once, pushing the price up to 0.000023 dollars! Unfortunately, since then, the price of this meme coin has been hovering around that threshold.
However, mid-term and long-term holders of Pepe are not very happy. According to ITB data, the number of people holding this meme coin for over a year has dropped from 91,200 on November 11 to 89,000 on December 3. Even those who held for 1 to 12 months (Cruisers) plummeted from 200,000 to just 89,000 yesterday. On the other hand, those holding for less than a month have surged by 262% in the past 30 days, reaching 72,000 unique addresses!
Currently, Pepe's price is hovering around 0.000020 dollars, with a market cap of 8.69 billion dollars. The 24-hour trading volume has also decreased by 1%, now only 3.48 billion dollars.
So, unless there comes another wave of whales accumulating coins, the upward momentum of PEPE is likely to be dragged down by these short-term traders. This meme coin is currently highly unstable! Let's wait and see what happens next!
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