Pepe Coin

Pepe

Coin

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 <p>According to crypto <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> firm LookOnChain, a couple of whales purchased 1.56 trillion Pepe Coin tokens for a total of 1,100 ETH. The value of the purchase in dollar terms is about $2.06 million. The first whale called “yougetnothing.eth” spent 600 ETH, or $1.12 million for 874 billion tokens, while another, “0x4631,” spent 500 ETH, or $936,000, for 685 billion tokens. </p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">2 whales bought 1.56T $PEPE with 1,100 $ETH($2.06M) today.<br><br>yougetnothing.eth spent 600 $ETH($1.12M) to buy 874B $PEPE at $0.000001286 ~12 hrs ago.<br><br>0x4631 spent 500 $ETH($936K) to buy 685B $PEPE at $0.000001366 ~6 hrs ago. pic.twitter.com/DQx3biCSh2</p>— Lookonchain (@lookonchain) July 27, 2023 
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 <p>Pepe’s price, on the other hand, has jumped 6.6% in the last 24 hours, while trade volume has gone up by 49.5%, currently at $224.9 million. Moreover, according to CoinGlass, the frog-themed crypto’s open interest has risen by 3.85%, currently at $31.51 million. However, weighted open interest is at -0.0115%, meaning that shorts are still dominating.</p> 
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 <p><strong>Also Read: Crypto Market Rides ‘Animal Racing’ Wave: DOGE, PEPE Sidelined</strong></p> 
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 <p>Despite the increase in price, IntoTheBlock data indicate that holders in profits have decreased by 8.22%. Only 36% of Pepe holders are in profit right now, with 57% at a loss, while 8% of holders are even. Additionally, large transactions have dropped by 2.34%. This could mean that we might see another correction since large transactions usually dictate price movements. </p> 
 <h3 class="wp-block-heading" id="h-why-are-whales-buying-pepe">Why are whales buying Pepe?</h3> 
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  <img decoding="async" width="1024" height="538" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="PEPE" class="wp-image-96431 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 300w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 768w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 380w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 550w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 800w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp.webp 1200w" data-srcset-img="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1024w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 300w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 768w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 380w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 550w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 800w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1160w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1200w" data-eio="j"> 
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   <img decoding="async" width="1024" height="538" src="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp" alt="PEPE" class="wp-image-96431" srcset="https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1024w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 300w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 768w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 380w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 550w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 800w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1160w, https://cdn.thebittimes.com/images/2023/07/27/07251108c3abc3a701aed41a343ede8b.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source – New York Magazine 
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 <p>The recent whale purchase could be fueled by speculation of Dogecoin (DOGE) being integrated into X. It is possible that the whales anticipate a memecoin rally if such a development comes to fruition. </p> 
 <p>Furthermore, it is also possible that the purchase is riding the Evil Pepe memecoin wave. Evil Pepe is a new crypto project that earned $640k in presales in just over one week. The whales might be anticipating a “Pepe” rally soon. However, despite the recent rally, PEPE is still one of the worst-performing cryptos among the top 100 projects in the weekly time frame. The token is down by 12% in the last seven days and by 12.6% over the last month. </p> 
 <p><strong>Also Read: Elon Musk To Enable Dogecoin Payments in Twitter’s X?</strong></p> 
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<div class="cs-entry__tags"> 
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  <li>pepe</li> 
  <li>pepe coin</li> 
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Pepe Coin: Whales Buy 1.56 Trillion Tokens, Price Jumps 6%

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TheBitTimes

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