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<p>The rally in the world’s third-largest meme coin PEPE seems to be unstoppable. In the last 24 hours, the <a href="https://coingape.com/pepe-coin-rallies-13-amid-meme-coins-sector-recovery-price-hits-new-ath/" target="_blank" rel="noopener noreferrer nofollow">PEPE Coin price</a> has surged by another 12% extending its weekly gains to more than 80%. As of press time the PEPE price is trading at $0.0000166 with its market cap crossing $7 billion hitting a fresh milestone. The recent rally in PEPE comes amid huge investor interest as the daily trading volumes have skyrocketed past $2.56 billion.</p>
<h3 id="pepe-coin-hits-new-all-time-high">PEPE Coin Hits New All-Time High</h3>
<p>PEPE has become the third-largest meme coin, following Dogecoin and Shiba Inu, to reach a significant milestone. The token has not only outperformed rival memecoins but also surpassed the broader cryptocurrency market, achieving a 135% gain over the past month. Year-to-date, the Ethereum-based cryptocurrency has delivered a 12x return to its holders.</p>
<p>This rally has attracted the attention of wealthy investors. On-chain tracking platform Spot On Chain reported that a whale withdrew 1.32 trillion PEPE tokens from Binance over the last five days. At the current price, this whale’s PEPE portfolio has generated a 21% return.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">In the past 5 days, a whale withdrew 1.323T <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> from <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> at ~$0.00001378 (est. cost: $18.2M).</p>
 <p>Now, with the price surging 81% (7D) to a new ATH, the whale’s PEPE holding is worth $22.1M (+21%)!</p>
 <p>Will the whale dump with these <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> soon? Follow <a rel="noopener noreferrer nofollow" href="https://twitter.com/spotonchain?ref_src=twsrc%5Etfw">@spotonchain</a> and set alerts… <a rel="noopener noreferrer nofollow" href="https://t.co/nsTpdLwlzu">pic.twitter.com/nsTpdLwlzu</a></p>
 <p>— Spot On Chain (@spotonchain) <a rel="noopener noreferrer nofollow" href="https://twitter.com/spotonchain/status/1794920357780238658?ref_src=twsrc%5Etfw">May 27, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h3 id="what-s-behind-the-price-rally">What’s Behind the Price Rally?</h3>
<p>PEPE’s recent stellar performance aligns with the optimistic sentiment in the cryptocurrency industry following the approval of spot Ethereum ETFs.</p>
<p>Pepe’s price action remains bullish as buyers resist efforts to drive the price down. Strong support has formed around the $0.00001380 level, which has been tested twice. Additionally, <a href="https://coingape.com/markets/pepe-coin-price-forecast-after-a-76-surge-is-0-0001-the-next-target/" target="_blank" rel="noopener noreferrer nofollow">PEPE</a> is establishing higher lows and higher highs, indicating a rising uptrend. The price is also trading above the 50-day and 200-day simple moving averages (SMA), further reinforcing the bullish outlook.</p>
<p>PEPE is poised for further rallying, with on-chain analysis firm Santiment reporting a surge in active addresses holding PEPE from 3,600 to 12,000 between May 21 and May 22. A similar increase in PEPE-holding wallets was observed in mid-May.</p>
<p>The post <a href="https://coingape.com/pepe-coin-extends-weekly-rally-to-over-80-amid-whale-accumulation/" rel="noopener noreferrer nofollow">PEPE Coin Extends Weekly Rally To Over 80% Amid Whale Accumulation</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

PEPE Coin Extends Weekly Rally To Over 80% Amid Whale Accumulation

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