- One whale purchased 173 billion PEPE tokens for 1.34 million USDC.
- This whale has already realized a achieve of 886% ($1.77) on his PEPE holdings.
- PEPE is buying and selling at $057818 and is up 1.80% prior to now 24 hours.
Meme coin PEPE (PEPE) is ready to skyrocket in worth after one main investor not too long ago acquired a large 173 billion tokens amid a normal digital asset market collapse, and the crypto neighborhood is now predicting an identical market reversal primarily based on PEPE’s worth surge.
Blockchain analytics platform LookOnChain posted on social media platform X (previously Twitter) {that a} whale used 1.34 million USDC tokens to purchase 173 billion PEPE tokens. The whale has already made $1.77 million (+886%) on his funding within the meme coin, and the pockets seems to stay bullish on the digital asset. LookOnChain added:
“This dealer spent $200,000 to purchase $170B of PEPE on 10/25/2023, held it till 7/25/2024, and bought it for $1.97M for a revenue of $1.77M (+886%)!”
Based on knowledge from CoinMarketCap, PEPE has been probably the greatest performing currencies throughout the current market rally, rising 826.49% since August of final 12 months. On the time of writing, PEPE is buying and selling at $0.057818 and has a market cap of $3.29 billion, making it the twenty fifth largest cryptocurrency by valuation.
Furthermore, whereas the cryptocurrency has risen by 1.80% over the previous 24 hours, PEPE token buying and selling quantity has fallen by 7.61% to now be value $714 million. The meme coin is down 54.47% from its all-time excessive of $0.00001718, recorded in Could this 12 months. After hitting a day by day excessive of $0.058106, the cryptocurrency fell to a day by day low of $0.057392 as whales snapped up 173 billion PEPE.
Based on a chart supplied by TradingView, the PEPE meme coin’s Relative Power Index (RSI) is at 43.95, which signifies that bears are presently answerable for the meme coin’s worth motion.
Accumulation of PEPE tokens by whales might result in a short-term worth improve. Nonetheless, broader market efficiency can even play a key position. If there’s a surge in shopping for quantity throughout the market, this might result in a big improve within the worth of PEPE.
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