Meme Coins: Why Are PEPE FLOKI Prices Rising?
Pepe Coin (#PEPE )
Meanwhile, PEPE, another prominent meme coin, led the meme coin market rally with an 11.15% increase in its price over the past 24 hours.Dec. Currently standing at $0.00001066, the frog-themed meme token is experiencing significant buying pressure in the market.
reports have revealed the staggering amount of money that whales and smart money have accumulated pepe in recent days. Moreover, at the time of the press, Spotonchain's forecasts showed that 0x37d, a smart trader, withdrew 407.74 billion Pepe from Binance. It is worth noting that this address has previously traded Pepe to accumulate SHIB and drew attention to the enormous profits with Pepe coin. Collectively, these data highlighted an increase in buying pressure for the frog-themed meme token.
In addition, Coinglass data showed a 2.31% increase in Pepe's open interest to $ 118.78 million, followed by a 137.54% increase in derivatives volume to October 2.81 billion, reflecting an optimistic sentiment in the market.
#Floki (FLOKI)
Another dog-themed meme coin, which has gained 3.36% in the last 24 hours and reached $ 0.0002025, leads to significant buying pressure. In particular, according to spotonchain's forecasts, the market maker DWF Labs has pulled a staggering 2 billion FLOKI from Binance today. This strategic effort also coincides with the bullish proposal for the Floki community in the pipeline.
The proposal to burn a token launched to permanently remove just over 15 Billion floki seems to have led to tremendous market optimism surrounding the token. These factors, combined with an OI increase of 15.73% and a derivative volume increase of 244.72%, are potentially in line with floki's rising price action.
