- A new crypto whale has been spotted accumulating a massive 357 billion PEPE from Binance.
- This move has sparked optimism as PEPE’s price is already on an upward trend.
- Recent whale transactions and on-chain data suggest a positive outlook for the meme coin.
A new crypto whale has been spotted accumulating a massive 357 billion PEPE from Binance, sparking optimism as PEPE’s price is already on an upward trend. This article delves into the details and implications of this development.
New Whale Accumulates 357 Billion PEPE
A new whale wallet has recently bagged 357 billion PEPE from Binance, one of the world’s leading cryptocurrency exchanges. This massive accumulation comes amid a nearly 3% price upswing noted by the frog-themed meme token in the past 24 hours. The accumulation has further fueled market optimism surrounding a potential sustained rising price action for the meme coin in the long run.
PEPE Price Rallies Amid Accumulation
At the time of writing, PEPE’s price has seen an uptick of 4.20% in the past 24 hours and is currently trading at $0.0000081. Its 24-hour lows and highs are $0.000007629 and $0.00000848, respectively, illustrating a highly volatile movement. The market cap rose 4.16%, reaching $3.41 billion, followed by a 34.08% jump in the token’s 24-hour trading volume, reaching $792.02 million.
Optimism Surrounds PEPE’s Future
Despite the volatile price movement, the massive accumulations paint an optimistic portrait for the Pepe coin in the long run. The new wallet currently holds only one token, PEPE, per data by Etherscan, a blockchain explorer. Meanwhile, a recent report by CoinOtag Media further spotlighted that smart money was noted to be accumulating 143 billion PEPE, adding to the token’s optimistic buzz in the broader crypto market.
Conclusion
While the short-term prospects for PEPE remain uncertain, the massive accumulations by the new whale wallet suggest optimism for the meme coin in the long run. As the crypto market continues to evolve, it will be interesting to see how PEPE’s price and market position develop.
