#pepecoin Will the price of Pepe (PEPE) reach a new all-time high at the end of April?

The price of Pepe (PEPE) marked an all-time high (ATH) last month, and since then, the memecoin has mostly seen corrections.

However, based on the actions of the whales, the frog meme-inspired cryptocurrency will once again see a new ATH.

What do PEPE whales do?

It has been observed that the

Pepe prices are heavily influenced by the directions of the whales, as they tend to own the majority of the circulating supply. This is both an advantage and a disadvantage as they dictate the price action for the rest of the investors.

Currently, their dominance is an advantage as, over the past two days, these whales have been adding more and more tokens to their wallets.

Large wallet holders have purchased more than 4 billion PEPE worth more than 20 million dollars in the last ten days alone.

Given how fragile the stability of memecoins is, if these investors pour in millions of dollars, they will most likely expect the price to rise.

Read more: How and where to buy Pepe (PEPE)? This is what you should know in 2024

Their bullish sentiment is corroborated by retail investors currently showing conviction. Generally, most of the supply in the hands of short-term holders is considered a bearish signal.