Pepe

Persistence One

Dogecoin

Shiba Inu

Coin

According to data provided by Debank, a newly created crypto wallet bought trillions of Pepe coins (PEPE) equivalent to $1.64 million, surpassing the world’s largest crypto exchange, <a href="https://en.coin-turk.com/rapid-increase-in-open-interest-for-binances-bnb-amid-price-drop-crypto-analyst-warns-of-chain-liquidation-risk/" data-wpel-link="internal">Binance</a>. Meanwhile, news of Binance delisting the altcoin from its flexible credit platform at the peak of the memecoin hype on May 5 had shaken PEPE’s price. Yet, when compared to other leading memecoins like <a href="https://en.coin-turk.com/predictive-analysis-june-performance-forecast-for-four-cryptocurrencies-including-doge/" data-wpel-link="internal">Dogecoin</a> (<a href="https://en.coin-turk.com/which-altcoin-is-the-new-twitter-ceo-a-fanatic-little-known-facts/" data-wpel-link="internal">DOGE</a>) and Shiba Inu (SHIB) in terms of market value, PEPE coin is still performing quite well.&nbsp; 
<h2 style="text-align: justify" id="other-whale-transactions-targeting-pepe-coin">Other Whale Transactions Targeting PEPE Coin</h2> 
Two noteworthy whale transactions for PEPE coin were interpreted as potential short-term price increases. A crypto wallet beginning with “0xcfff” spent approximately $1.08 million worth of 471,700 USDC to purchase 260 billion PEPE. Additionally, Twitter user osf_rekt bought 404.5 billion PEPE for 367 ETH valued at $720,000.&nbsp; 
<img decoding="async" class="aligncenter wp-image-88057 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/07/pepe-1.png" alt="" width="1340" height="728" srcset="https://en.coin-turk.com/wp-content/uploads/2023/07/pepe-1.png 1340w, https://en.coin-turk.com/wp-content/uploads/2023/07/pepe-1-300x163.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/07/pepe-1-768x417.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/07/pepe-1-1200x652.png 1200w" sizes="(max-width: 1340px) 100vw, 1340px"> 
At the time of writing, PEPE, trading at $0.00000174, faced a slight 0.38% decrease in the last hour, but has increased its value by over 10% in the past week. The memecoin’s trading volume in the last 24 hours has reached $393.5 million, marking a significant increase of 205.13%.&nbsp; 
<h2 style="text-align: justify" id="pepe-price-rises-despite-investors-short-position-persistence">PEPE Price Rises Despite Investors’ Short Position Persistence</h2> 
Binance, one of the world’s largest crypto exchanges, recently announced that it removed PEPE as a borrowable asset on its Flexible Credit platform. This decision influenced the trading dynamics surrounding the memecoin, and PEPE’s price dropped by 15% after the announcement.&nbsp; 
Data provided by the crypto data platform CoinGlass shows that the $2.02 million of the $3.02 million in long/short position liquidations recorded for PEPE in the last 24 hours were short positions. This indicates that the memecoin’s price is rising against positions expecting a price decline.&nbsp; 
The post <a rel="nofollow" href="https://en.coin-turk.com/crypto-whales-target-pepe-coin-despite-market-uncertainties/" data-wpel-link="internal">Crypto Whales Target PEPE Coin Despite Market Uncertainties</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Crypto Whales Target PEPE Coin Despite Market Uncertainties

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