Pepe Coin

Pepe

Coin

<div class="watcher-guru"> 
 <p>According to crypto <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> firm LookOnChain, a couple of whales purchased 1.56 trillion Pepe Coin tokens for a total of 1,100 ETH. The value of the purchase in dollar terms is about $2.06 million. The first whale called “yougetnothing.eth” spent 600 ETH, or $1.12 million for 874 billion tokens, while another, “0x4631,” spent 500 ETH, or $936,000, for 685 billion tokens. </p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">2 whales bought 1.56T $PEPE with 1,100 $ETH($2.06M) today.<br><br>yougetnothing.eth spent 600 $ETH($1.12M) to buy 874B $PEPE at $0.000001286 ~12 hrs ago.<br><br>0x4631 spent 500 $ETH($936K) to buy 685B $PEPE at $0.000001366 ~6 hrs ago. pic.twitter.com/DQx3biCSh2</p>— Lookonchain (@lookonchain) July 27, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <p>Pepe’s price, on the other hand, has jumped 6.6% in the last 24 hours, while trade volume has gone up by 49.5%, currently at $224.9 million. Moreover, according to CoinGlass, the frog-themed crypto’s open interest has risen by 3.85%, currently at $31.51 million. However, weighted open interest is at -0.0115%, meaning that shorts are still dominating.</p> 
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828227"></div> 
  </div> 
 </div> 
 <p><strong>Also Read: Crypto Market Rides ‘Animal Racing’ Wave: DOGE, PEPE Sidelined</strong></p> 
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div id="primisContainer" class="add"></div> 
 </div> 
 <p>Despite the increase in price, IntoTheBlock data indicate that holders in profits have decreased by 8.22%. Only 36% of Pepe holders are in profit right now, with 57% at a loss, while 8% of holders are even. Additionally, large transactions have dropped by 2.34%. This could mean that we might see another correction since large transactions usually dictate price movements. </p> 
 <h3 class="wp-block-heading" id="h-why-are-whales-buying-pepe">Why are whales buying Pepe?</h3> 
 <figure class="wp-block-image size-large"> 
  <img decoding="async" width="1024" height="538" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="PEPE" class="wp-image-96431 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 300w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 768w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 380w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 550w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 800w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 1200w" data-srcset-img="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1024w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 300w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 768w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 380w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 550w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 800w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1160w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1200w" data-eio="j"> 
  <noscript> 
   <img decoding="async" width="1024" height="538" src="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp" alt="PEPE" class="wp-image-96431" srcset="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1024w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 300w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 768w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 380w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 550w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 800w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1160w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  </noscript> 
  <figcaption class="wp-element-caption">
    Source – New York Magazine 
  </figcaption> 
 </figure> 
 <p>The recent whale purchase could be fueled by speculation of Dogecoin (DOGE) being integrated into X. It is possible that the whales anticipate a memecoin rally if such a development comes to fruition. </p> 
 <p>Furthermore, it is also possible that the purchase is riding the Evil Pepe memecoin wave. Evil Pepe is a new crypto project that earned $640k in presales in just over one week. The whales might be anticipating a “Pepe” rally soon. However, despite the recent rally, PEPE is still one of the worst-performing cryptos among the top 100 projects in the weekly time frame. The token is down by 12% in the last seven days and by 12.6% over the last month. </p> 
 <p><strong>Also Read: Elon Musk To Enable Dogecoin Payments in Twitter’s X?</strong></p> 
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="publift-ad add"> 
   <div data-fuse="22560828233"></div> 
  </div> 
 </div> 
</div> 
<div class="cs-entry__tags"> 
 <ul> 
  <li>pepe</li> 
  <li>pepe coin</li> 
 </ul> 
</div>

Pepe Coin: Whales Buy 1.56 Trillion Tokens, Price Jumps 6%

Table of Contents

TheBitTimes

Other articles published on Aug 1, 2023

XRP Holder's Lawyer Reveals One Unique Thing About His Clients

Prominent XRP Attorney Withdraws From Ripple Vs US SEC Lawsuit

Crypto reacts to superconductor claims that made front-page news

Is Bitcoin on the Edge of a Cliff or Preparing to Soar? Analysts Reviewed

IRS Clarifies Crypto Staking Rules

How Much Profit Did Justin Sun Group Make in the Second Quarter? Are Prospects Positive for the R...

Join our free newsletter for daily crypto updates!