An exciting event occurred today, May 23. A Pepe coin whale's savings came to the fore. Although the frog-themed meme token was already in a bull run, a whale accumulated even larger amounts of PEPE. Remarkably, #PEPE has defied broader market expectations by rising to unprecedented levels in recent days. This unpredictability has sparked thoughts of a potential correction looming for the meme coin. However, the massive accumulation of PEPE led to opposing market sentiments.
According to insights revealed by on-chain analytics platform LookOnChain, whale address 0x83768.. accumulated a staggering 390.56 billion #PEPE from the Binance exchange today. What's more, in less than two days, the same address was recorded to have purchased 982.56 billion PEPE, collectively valued at $13.6 million, echoing a frenzy amid the meme coin's ongoing upward momentum.
Notably, PEPE reached an ATH today at $0.00001467. However, instead of sell-offs due to potential profit-taking behavior, Pepe cryptocurrency accumulations have emerged throughout the market, underlining the whale's confidence in the asset for further earnings. Additionally, it is worth noting that Pepe coin surpassed Internet Computer (ICP) in the rankings, exceeding a market value of $6 billion today.
At the time of writing, the price of Pepe coin has increased by 4.85% in the last 24 hours. It is currently trading at $0.0001371. The frog-themed meme token's 24-hour low and high are $0.00001306 and $0.00001467 respectively. Despite significant PEPE liquidations worth $6.20 million recorded in the last 24 hours, the meme coin maintained its upward movement.
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