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The recent Pepe (<a href="https://crypto.news/price/pepe/" rel="">PEPE</a>) price rally has triggered an impressive increase in the memecoin’s whale activity. 
PEPE is up by 21% in the past 24 hours and is trading at $0.0000102 at the time of writing. The asset reached an all-time high of $0.0000109 at 16:40 UTC on March 13. Pepe currently has a total market cap of $4.3 billion with a daily trading volume of $2.15 billion. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/05/Pepe-PEPE-11.37.01-14-May-2024-1024x347.png" alt="PEPE whale activity explodes amid price rally to new ATH - 20"> 
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 PEPE price, whale activity, exchange activity and RSI – May 14 | Source: Santiment
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According to data provided by Santiment, whale transactions consisting of at least $100,000 worth of PEPE surged by 416% over the past 24 hours — rising from 135 to 697 unique transactions per day. 
Data shows heightened exchange activity for the frog-themed memecoin. Per Santiment, the PEPE exchange inflow recorded a 255% rally over the past day — currently hovering at 8.03 trillion tokens. 
 You might also like: <a href="https://crypto.news/crypto-investment-product-inflows-may-2024/" rel=""> Crypto investment product net inflows see $130m rebound </a> 
Quite similarly, the asset’s exchange outflow also increased by 240% in the past 24 hours and is currently sitting at 6.73 trillion PEPE, according to data from the market intelligence platform.&nbsp; 
PEPE is currently witnessing an exchange net inflow of 1.3 trillion coins. The movements could potentially trigger a short-term selloff due to whales taking profits at this price point.&nbsp; 
Moreover, the PEPE Relative Strength Index (RSI) has been consistently rising since May 9. Per Santiment, the memecoin’s RSI is hovering at the 70 mark — suggesting that PEPE is overvalued and <a href="https://crypto.news/pepe-gets-overheated-with-13-price-surge-in-24-hours/" rel="">overheated</a> in this market condition. 
Due to the heightened whale activity and increased RSI, high price volatility would be expected for PEPE until further movements.&nbsp; 
According to a crypto.news report on May 13, the memecoin ecosystem <a href="https://crypto.news/meme-coins-become-top-gainers-again-in-flat-crypto-market/" rel="">recorded notable gains</a> as the market gained bullish momentum. Among the top gainers are Pepe, Dogecoin (<a href="https://crypto.news/price/dogecoin/" rel="">DOGE</a>), Shiba Inu (<a href="https://crypto.news/price/Shiba-Inu/" rel="">SHIB</a>) and Floki (<a href="https://crypto.news/price/FLOKI/" rel="">FLOKI</a>). 
 Read more: <a href="https://crypto.news/binance-trading-volumes-spike/" rel=""> Binance trading volumes spike 72% despite market decline </a>

PEPE whale activity explodes amid price rally to new ATH

crypto.news

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