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Large holder investors in the Pepe (PEPE) ecosystem have been busy in the last 24 hours, transacting 11.75 trillion PEPE. This frenzy of transactions has positively impacted the price outlook of PEPE on the crypto market.
$160 million worth of PEPE moved as whale activity surges
This represents a 45% surge in volume within the period and over $160 million in fiat currency.
According to IntoTheBlock data, in the last seven days, Pepe whales have engaged in large transactions, with volumes reaching a high of 18.48 trillion PEPE and a weekly low of 7.92 trillion PEPE.
This development suggests that Pepe whales are becoming more active and might be on an accumulation spree or moving funds around. Regardless of the reason, it remains significant, as these large transaction volumes often hint at a price shift.
So far, Pepe’s price on the crypto market indicates that whales are in an accumulation mood, as the price has registered a significant uptick. As of press time, PEPE has climbed 6.01% to $0.00001376.
The meme coin had peaked at $0.00001444 before experiencing a slight correction. However, investors remain active as trading volume has increased significantly by 18.39% to $1.45 billion within this period.
Market participants have caught up with the whale activities and are determined to profit from current price movements.
PEPE: Are $0.000015 or $0.00002 within reach?
In the broader cryptocurrency space, meme coins are rallying, with PEPE leading in price gains. By contrast, Dogecoin (DOGE) has only climbed by 1.24%, while Shiba Inu (SHIB) has gained a mild 0.29% as of press time.
With PEPE whales accumulating, large outflows from different exchanges, including Binance, have been sighted. This suggests that whales intend to hold for a while.
This could help sustain the momentum and push the price toward $0.000015 or $0.00002 if buying pressure lingers.
Vladislav Sopov
U.Today Editorial Team