Pepe Coin (PEPE) Surges Alongside Bitcoin and Ether
This weekend, Bitcoin (BTC) and Ether (ETH) experienced significant price growth, reaching new all-time highs. As part of this market-wide surge, Pepe Coin (PEPE) also hit a new all-time high, attracting the attention of profit-seeking whales.
Whale Profits from PEPE’s Price Surge
Pepe Coin made a splash in the crypto space when it launched in April of last year, quickly becoming one of the most recognizable memecoins. However, its price faded as competitors like BONK and other Solana-based memecoins gained popularity. The recent bull run in the crypto market has revitalized Pepe Coin’s price, allowing a whale to make impressive profits.
An analysis by blockchain analytics platform Lookonchain revealed that a whale earned over 431% in profits within just two weeks. The trader withdrew more than 1 trillion PEPE tokens from Binance in three transactions before the price skyrocketed.
The first withdrawal of 713.12 billion PEPE tokens occurred 15 days ago when the token was trading around $0.00000138. The second withdrawal involved approximately 316.36 billion tokens at a price of $0.00000180, while the third withdrawal was for 116.7 billion tokens at a price of $0.00000269.
These withdrawals totaled 1.19 trillion PEPE tokens, worth around $1.88 million at the time. The whale later deposited 196.18 billion tokens back to Binance, earning profits of $1.7 million.
The whale still holds 1 trillion PEPE tokens, which were valued at $8.13 million at the time of the report. Since then, the value of these holdings has increased to $9.13 million.
PEPE’s Massive Surge
Despite market volatility and whales selling off PEPE, the community remains confident in the memecoin’s potential. They consider it to be the memecoin of this bull run, drawing parallels to Dogecoin’s surge in 2021.
In the past 14 days alone, Pepe Coin has seen a remarkable price increase of 549%. In the last month, it has surged by an impressive 799.5%. This growth has propelled PEPE to become the third-largest memecoin with a market capitalization of $3.85 billion.
Additionally, PEPE’s daily trading volume has risen by 16.85% to $1.49 billion, indicating a surge in market activity and interest in the memecoin.
At present, PEPE is trading at $0.000009135, representing an 8.5% increase in 24 hours but a 5.95% decrease from its all-time high of $0.000009793 reached two days ago.
Hot Take: PEPE Coin Riding High on Bull Market Momentum
Pepe Coin (PEPE) has joined Bitcoin and Ether in their impressive price surges, reaching a new all-time high. A whale took advantage of this surge and earned substantial profits by withdrawing and depositing PEPE tokens.
Despite facing competition from other memecoins, PEPE has experienced significant growth in recent weeks, making it one of the top-ranking memecoins by market capitalization. The community remains optimistic about its future potential.
If you’re considering investing in memecoins during this bull run, keep an eye on Pepe Coin as it continues to ride the momentum of the market.
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