PEPE Token Price Surging Rapidly, What’s the Status of Whales’ Transfers?

  • Amidst increasing optimism in the memecoin sector, Pepe Coin emerged today, March 14th, as a significant player in the crypto market.
  • Spot On Chain uncovered a significant move by a whale, depositing 500 billion PEPE tokens into Binance, reaping massive profits in the process.
  • At the time of writing, the price of Pepe Coin surged by 14% in the last 24 hours, reaching $0.00001048, with trading volume increasing by 50% to $2.47 billion.

With rapidly rising PEPE token amidst increased interest in the memecoin market, how are whales conducting transfers? Current data!

PEPE Token Stands Out with a 14% Increase

pepe-coin

Amidst increasing optimism in the memecoin sector, Pepe Coin emerged today, March 14th, as a significant player in the crypto market. With its price rapidly increasing by nearly 16%, investors are showing strong confidence in this frog-themed meme coin.

However, despite the rally in PEPE’s price and the overall rally in the memecoin space, some investors are using this as an opportunity to take profits. A recent event where a major Pepe Coin holder likely decided to cash out, possibly to take advantage of the recent sharp increase in Pepe Coin’s value, caught the attention of analysts and traders.

While the memecoin sector is buzzing with excitement, the recent actions of a notable meme coin whale have changed the narrative. Spot On Chain, a renowned on-chain analysis firm, uncovered a significant move by the whale, depositing 500 billion PEPE tokens into Binance and making substantial profits in the process.

The activity of the trader identified with wallet address 0x522e…28472, likely orchestrated to capitalize on the recent surge in Pepe Coin’s value, was revealed in Spot On Chain’s latest post on the X platform.

According to the post, the trader deposited 500 billion PEPE tokens into Binance during the “pump in the last 10 days,” resulting in approximately $4.26 million in profits at the current market value. Selling at the current market price would yield a profit of $3.39 million for the whale.

However, despite liquidating a significant portion of their holdings, the trader still holds 100 billion PEPE tokens worth $1.05 million, indicating ongoing interest in the meme coin market. Additionally, the meme coin whale has approximately $900,000 in profits from FLOKI and Shiba Inu (SHIB) assets.

Price Surge Amid Memecoin Excitement

While the rise of Pepe Coin is noteworthy, it is just a part of the broader picture in the memecoin sector. Investors are regaining confidence in meme coins, attributing a strong surge in various projects.

However, this excitement extends beyond meme coins alone, as evidenced by Bitcoin’s recent milestone, surpassing the $73,000 mark to reach a new all-time high. Dynamics in the crypto market are evolving rapidly, influenced by a combination of investor sentiments and market trends.

Meanwhile, at the time of writing, the price of Pepe Coin surged by 14% in the last 24 hours, reaching $0.00001048, with trading volume increasing by 50% to $2.47 billion. Significantly, the third-largest meme coin traded with a high of $0.00001074 and a low of $0.000008423 in the last 24 hours, demonstrating the volatile nature of the crypto market. PEPE’s price has surged nearly 850% in the last 30 days.

The rally in Pepe Coin’s price is happening amidst a broader rally in the meme coin segment. Many significant meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifhat (WIF), FLOKI, and others have also rallied, indicating renewed investor confidence in the segment.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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