#pepe #btc $PEPE could set a new all-time high after large holders refused to book profit

Large holders are still holding onto PEPE despite its recent all-time high.

PEPE is on the brink of a new all-time high after an 8% rally.

Investors must exercise caution as few addresses control 65% of the token's supply.

PEPE is showing signs of a rally on Friday despite the refusal of large holders to sell. Other key on-chain data also support this move.

PEPE is up nearly 8% on Friday, aiming to set a new all-time high above $0.000017.

In May, PEPE rallied nearly 130%, setting and flipping new all-time highs along the way. The meme coin flipped Polygon (MATIC) and Litecoin (LTC) during its rise, making it the 21st largest cryptocurrency with a market cap of $6.55 billion.

However, PEPE's historical concentration shows that most whales are still holding onto their positions despite the meme coins reaching an all-time high on Monday. Hence, it hasn't experienced a huge correction.