Pepe Coin Whales Shift 794B PEPE sparks price speculation, what's next?
Pepe coin, a unique frog-themed meme coin, has recently attracted the attention of the global cryptocurrency community with its remarkable performance. Defying the expectations of the broader crypto market, the token has reached unprecedented levels, marking a significant rise with monthly gains exceeding 100%.
Amid this remarkable price rise trajectory initiated by Pepe Coin, on-chain data surfacing in the market showed that a smart trader offloaded nearly 202 billion#PEPEto a crypto exchange. This transaction sparked the feeling that the price of Pepe's coin could have exceeded.
Nonetheless, market statistics appear, in contrasting fashion, to paint an optimistic picture of the upcoming frog-themed meme token.
Smart Money discharges $PEPE amid price hike, sparking speculation
This smart trader's success rate has raised concerns about the coin's potential to fail to move forward. Meanwhile, additional speculation that the sell-off is a sign of selling FOMO by the trader also prevails.
As mentioned above, the Pepe coin has defied all market expectations, reaching unthinkable levels in recent days. This also fueled market sentiment that the coin may be due for a correction.
On the other hand, 592 billion PEPE was withdrawn from Binance by wallet 0x8376, according to data from Look On Chain. Collectively, the occurrence of these tandem trades has echoed a speculative buzz among crypto market traders and investors.
The price of PEPE increases by 20%, what is the next step?
