The recent transaction involving PEPE, the third-largest meme coin by market cap, has caused a stir in the crypto community. The transaction in question was made by a crypto whale who purchased 1.238 trillion PEPE from Binance at an average price of $0.000008424, amounting to $10.4 million. Following the purchase, the whale withdrew the tokens in two separate transactions, withdrawing 322.5 billion PEPE in the first transaction and the remaining 915.85 billion PEPE in the second transaction.
The fact that the whale has not moved the tokens after the purchase suggests that they may be looking to hold onto them for the long term. This has led some notable smart traders to take notice and start accumulating PEPE as well. On-chain analytics platform Spotonchain also revealed that other whales have been actively withdrawing significant amounts of PEPE from exchanges such as Binance and MEXC. One whale withdrew 322.48 billion PEPE ($2.68 million) from Binance for the first time, indicating a growing interest in the meme coin.
PEPE has shown strong performance since the beginning of the year, with a year-to-date gain of over 500%. This bullish momentum has attracted the attention of traders and analysts alike. Crypto analyst Plazma has suggested that PEPE could soon reach a new all-time high, as it is currently trading just 20% below its previous ATH. Additionally, analyst Yazan has hinted at a potential new all-time high for PEPE, generating excitement among followers.
Currently ranked as the thirtieth largest crypto token by market cap, PEPE has the potential to climb higher if it reaches a new all-time high. Analysts such as Murad have even speculated that PEPE could potentially enter the top 10 crypto tokens by market cap, surpassing tokens like Shiba Inu (SHIB) and Dogecoin (DOGE). Despite a slight drop in price in the last 24 hours, PEPE is currently trading around $0.000008615 according to data from CoinMarketCap.
The recent whale transactions involving PEPE have brought significant attention to the meme coin within the crypto community. With strong market performance and analyst predictions pointing towards a potential new all-time high, PEPE continues to intrigue investors and traders alike. However, it is important to note that investing in cryptocurrencies carries risks and individuals are advised to conduct their own research before making investment decisions. The information provided in this article is for educational purposes only and does not reflect the opinions of NewsBTC.
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