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<p>The post <a href="https://coinpedia.org/news/memecoin-traders-made-2m-profits-in-pepecoin-pepe-price-rally/" rel="noopener noreferrer nofollow">Memecoin Traders Made $2M Profits in Pepecoin ($PEPE) Price Rally</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The PEPE meme coin has marked an incredible surge today, with the $PEPE token witnessing a remarkable 60% increase in its price within 24 hours. Renowned crypto analytics firm <a href="https://x.com/lookonchain/status/1762461336150442344?s=20" rel="noopener noreferrer nofollow">Lookonchain </a>reported significant profit-taking activities as investors capitalized on this sudden rally.</p>
<h2 class="wp-block-heading" id="h-pepe-s-surges-over-60"><strong>PEPE’s Surges Over 60%</strong></h2>
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   <p lang="en" dir="ltr">The price of <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> has increased by more than 60% today!<br><br>6 wallets sold 1.98T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a>($4.37M) to take profits, with a total profit of ~$2M.<br><br>Wallet"0xa145" deposited 486.72B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a>($1.04M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> 6 hours ago, making ~$515K (+97%).<a href="https://t.co/RyJqmGu1At" rel="noopener noreferrer nofollow">https://t.co/RyJqmGu1At</a><br><br>5 wallets (possibly… <a href="https://t.co/rulYxYE4W5" rel="noopener noreferrer nofollow">pic.twitter.com/rulYxYE4W5</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1762461336150442344?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 27, 2024</a>
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<p>With the Massive Surge in Pepecoin price, Lookonchain’s recent analysis revealed notable wallet activities, indicating substantial profit-taking maneuvers by savvy investors.</p>
<p>Six wallets seized the opportunity and sold 1.98 trillion $PEPE tokens, amounting to a staggering $4.37 million. The total profit generated from these transactions amounted to approximately $2 million, showcasing the lucrative nature of $PEPE’s recent rally.</p>
<p>One specific wallet, identified as “0xa145,” deposited a substantial amount of $PEPE tokens, totaling 486.72 billion, amounting to a staggering $1.04 million single-handedly, to Binance. This strategic move resulted in a swift profit of around $515,000, marking an impressive 97% gain within six hours.</p>
<p>Furthermore, five wallets, potentially linked to the same individual, collectively deposited 1.5 trillion $PEPE tokens, equivalent to $3.3 million to Binance. This strategic move resulted in a substantial profit of $1.49 million, reflecting an 82% increase.</p>
<h2 class="wp-block-heading" id="h-market-dynamics-and-potential-reasons-behind-surge"><strong>Market Dynamics And Potential Reasons Behind Surge</strong></h2>
<p>Pepe token’s recent single-day surge has set it apart from other popular meme coins. While Dogecoin and Shiba Inu managed modest gains of 1.85% and 11.11%, Pepe’s outlier pump propelled its price to approximately $0.00000228.&nbsp;</p>
<p>This surge has brought the token closer to a key resistance level in play since last July. A successful break and close above this barricade, at around $0.00000159, was expected to pave the way for Pepe to surge by 20%, targeting its 2022 high of around $0.00000189.&nbsp;</p>
<p>Recent on-chain data reveals a surge in active wallet addresses interacting with the Pepe network, marking an 85% spike in just four days last week, and a 60% surge in 24 hours. The number of large “whale” transactions involving sums above $500,000 and $1 million worth of $PEPE coins, has also triggered today’s surge over 60%.&nbsp;</p>
<h2 class="wp-block-heading" id="h-what-s-next"><strong>What’s Next?</strong></h2>
<p>With Pepe outpacing other meme coins this week and skyrocketing beyond 60%, analysts speculate that the token could target its all-time high market cap of around $1.8 billion. Achieving this would necessitate a parabolic 10x price surge from its current levels.&nbsp;</p>

Memecoin Traders Made $2M Profits in Pepecoin ($PEPE) Price Rally

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