Million

Drops

PEPE

Billion

A crypto player’s purchase of 231 billion PEPE tokens worth $2.9 million in a single day has led to a 5% surge in price, sparking investor optimism. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img decoding="async" width="1019" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/06/PEPE-Price-Surges-6-as-Whale-Makes-2.9M-Purchase.png" alt="PEPE Price Surges 6% as Whale Makes $2.9M Purchase" class="wp-image-182776" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/06/PEPE-Price-Surges-6-as-Whale-Makes-2.9M-Purchase.png 1019w, https://www.cryptotimes.io/wp-content/uploads/2024/06/PEPE-Price-Surges-6-as-Whale-Makes-2.9M-Purchase-800x380.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/06/PEPE-Price-Surges-6-as-Whale-Makes-2.9M-Purchase-768x365.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/06/PEPE-Price-Surges-6-as-Whale-Makes-2.9M-Purchase-860x408.png 860w" sizes="(max-width: 1019px) 100vw, 1019px">
 <figcaption class="wp-element-caption">
 Pepe Chart | Source: CoinmarketCap
 </figcaption>
 </figure>
</div> 
The whale used a discount strategy to snatch up these tokens while the price of PEPE was down. Lookonchain, a crypto analytics platform, <a href="https://x.com/lookonchain/status/1799639843242438822" target="_blank" rel="noreferrer noopener nofollow">confirmed</a> this massive purchase, indicating the whale’s confidence in PEPE. 
This isn’t the first time this whale has been active in PEPE. Since March 16, they’ve acquired 750.34 billion PEPE tokens from Kraken, spending around $8.34 million at an average price of $0.00001111. 
However, buying PEPE now comes with a twist. Many holders might sell their tokens as PEPE recently hit its all-time high (ATH) and has since dropped by 26.38% to $0.00001262. 
Despite this, the whale seems optimistic about PEPE’s future growth potential. Market analysts believe that altcoins like PEPE, known for outperforming the broader market, still have room to grow. 
In the larger memecoin landscape, things are looking positive. The overall market capitalization of <a href="https://coinmarketcap.com/view/memes/" target="_blank" rel="noreferrer noopener nofollow">memecoins has increased</a> by 1.95% to $58.79 billion in the past 24 hours. 
Key players like Dogecoin (DOGE), which rose by 0.6% to $0.1477, and PEPE, up by 1.82% to $0.00001268, contributed to this growth. Other tokens like Dogwifhat (WIF) also saw gains, rising by 0.77% to $2.769. 
One notable milestone is FLOKI’s BNB Chain holders surpassing 417,000, showing strong community support. Innovations like Shibarium for Shiba Inu and TokenFi for Floki have boosted demand for these tokens. 
Despite some ups and downs, PEPE’s dedicated community remains hopeful for its long-term success, aiming to challenge the dominance of coins like SHIB and DOGE. 
Investors view the recent significant purchase of PEPE tokens as a positive sign, leading to a 6% price surge and boosting optimism in the market. This strategic move by the whale demonstrates confidence in PEPE’s potential for growth and long-term value. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/08/nascent-buys-447-billion-pepe-tokens-as-pepe-price-drops/" target="_blank" rel="noreferrer noopener">Nascent Buys 447 Billion PEPE Tokens as PEPE Price Drops</a> 
</blockquote>

PEPE Price Surges 5% as Whale Makes $2.9 Million Purchase

The Crypto Times

Other articles published on Jun 10, 2024

U.S Bitcoin ETFs’ Massive Purchases Surpasses Mining Supply Ratio

Hackers Seize $20 Million in Crypto

Bitcoin Stabilizes at $69K After Sudden Sell-Off Amid Volatile Market Conditions

Bull Run Bets Integrates AI To Transform Online Casino Gaming

MoonBag Rockets Passed The 2M Mark, Bitcoin Cash and Shiba Inu Investors Join MoonBag, The Top Cr...

Floki Name Service Now Launched Exclusively on BNB Chain Mainnet

Join our free newsletter for daily crypto updates!