Pepe

Pepe Coin

NEXT GEN PEPE

Pepe Coin has once again emerged on the radar of crypto market investors as whale data surfacing within the market illustrated a massive accumulation despite the token’s continued upward momentum. In a post shared on X by the on-chain analytics platform Lookonchain, it was brought to attention that a staggering 357 billion PEPE was accumulated from Binance, one of the world’s leading cryptocurrency exchanges, amid a nearly 3% price upswing noted by the frog-themed meme token in the past 24 hours.
Coming in tandem with roughly 16% weekly gains for PEPE, this accumulation has further fueled a flurry of market optimism surrounding a potential sustained rising price action for the meme coin in the long run. Here’s a deeper dive into the accumulation and PEPE’s current market statistics.
<h2 id="pepe-accumulation-despite-price-upswing-stirs-optimism">PEPE Accumulation Despite Price Upswing Stirs Optimism</h2>
According to Lookonchain’s insights, 357.34 billion PEPE, worth $2.9 million, was noted to have been accumulated by a fresh wallet address, 0x4f0178, today, May 9. This massive accumulation by a new address has stirred speculations over the whale’s confidence in the asset’s future despite a continued rising price trajectory in recent days.
The new wallet currently holds only one token, PEPE, per data by Etherscan, a blockchain explorer. Meanwhile, a recent report by CoinGape Media further spotlighted that a smart money was noted to be accumulating 143 billion <a href="https://coingape.com/pepe-coin-smart-money-buys-143-bln-pepe-0-00001-on-the-horizon/" target="_blank" rel="noopener noreferrer nofollow">PEPE</a>, adding to the token’s optimistic buzz in the broader crypto market.
Another report shows that a staggering 4 trillion <a href="https://coingape.com/pepe-price-rallies-whale-accumulates-4-tln-pepe-coin/" target="_blank" rel="noopener noreferrer nofollow">Pepe coin was accumulated</a> earlier this month. Collectively, the abovementioned on-chain data has ignited immense investor optimism surrounding PEPEs future price movements.
Also Read: <a href="https://coingape.com/canaan-launches-new-bitcoin-mining-machine-avalon-series-whats-next/" target="_blank" rel="noopener noreferrer nofollow">Canaan Launches New Bitcoin Mining Machine Avalon A15 Series, What’s Next?</a>
<h2 id="pepe-price-soars">PEPE Price Soars</h2>
Meanwhile, at the time of writing, <a href="https://coingape.com/price/pepe-coin/" target="_blank" rel="noopener noreferrer nofollow">PEPE’s price</a> jotted an uptick of 4.20% in the past 24 hours and is currently trading at $0.0000081. Its 24-hour lows and highs are $0.000007629 and $0.00000848, respectively, illustrating a highly volatile movement.
The market cap rose 4.16%, reaching $3.41 billion, followed by a 34.08% jump in the token’s 24-hour trading volume, reaching $792.02 million. Coinglass, a cryptocurrency futures trading &amp; information platform, illustrated a dip of 5.56% in <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/currencies/PEPE" target="_blank">PEPE’s open interest</a>, reaching $86.98 million, whereas the derivatives volume surged 45.62%, reaching $800.63 million.
This somewhat rationalizes PEPE’s turbulent price action, although the broader charts illustrate an uptrend for the frog-themed meme coin with weekly gains of 16.44%. Besides, the RSI hovers at 57, hinting that the asset is riding a neutral market wave.
Bulls and Bears appear to be currently battling to control the token, with PEPE’s short-term prospects being uncertain. Nonetheless, the massive accumulations paint an optimistic portrait for the Pepe coin in the long run.
Also Read: <a href="https://coingape.com/news/stocks/3-crypto-stocks-to-watch-thursday-amid-market-dip/" target="_blank" rel="noopener noreferrer nofollow">3 Crypto Stocks To Watch Thursday Amid Market Dip</a>
The post <a href="https://coingape.com/pepe-price-whale-bags-357b-pepe-signaling-further-gains-ahead/" rel="noopener noreferrer nofollow">Pepe Price: Whale Bags 357B PEPE Signaling Further Gains Ahead</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Pepe Price: Whale Bags 357B PEPE Signaling Further Gains Ahead

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