Pepe coin (PEPE) has been one of many main contributors to the continued memecoin frenzy out there. Over the final week, the Pepe Coin (PEPE) worth has surged by a staggering 263%. In the final 24 hours, PEPE has added a 40% upside to its worth now buying and selling at $0.000004366 with its day by day buying and selling quantity taking pictures up by 200% to $2.31 billion.
PEPE Joins the Memecoin Fest
The Ethereum-based frog-themed memecoin has been one of many top-performing altcoins not too long ago out there.
The vital rise in PEPE’s market worth may be attributed to a mix of underlying fundamentals and technical components. A pivotal second occurred with the introduction of a particular provide by Binance aimed toward incentivizing the acquisition and retention of PEPE.
This initiative supplied complimentary tokens and improved returns, serving as a transparent endorsement of PEPE by Binance and attracting additional curiosity from buyers. This strategic maneuver not solely boosted PEPE’s buying and selling quantity but additionally bolstered investor belief, taking part in a considerable position in its total market efficiency.
PEPE Coin Whale Moves
According to Lookonchain, a blockchain analytics platform, a big transfer was made by a whale yesterday, depositing practically 2 trillion PEPE tokens into one of many world’s largest cryptocurrency exchanges.
The whale’s accumulation journey started on June 7, 2023, when Pepe Coin was buying and selling at $0.000001054. From June to December of that 12 months, the handle amassed 1.97 trillion Pepe tokens.
Approximately two months after this six-month shopping for spree, the whale deposited its complete PEPE holdings, valued at round $6.07 million, to Binance. As per the blockchain analytics platform, the whale reaped a revenue of over $3.49 million inside a matter of hours.
A sensible whale deposited all 1.97T $PEPE($6.07M) to #Binance and made a revenue of $3.49M.
Then he modified his place from $PEPE to $SHIB, withdrawing 75.9B $SHIB($893K) from #Binance 3 hours in the past.https://t.co/X67O2VjR1y pic.twitter.com/nL7rRDZCXT
— Lookonchain (@lookonchain) February 29, 2024
More Steam Left?
Amid its current breakout above $0.000003537, the Pepe coin has entered a worth discovery part with the potential for additional upside from right here. The RSI is hovering near common ranges, but it has persistently remained above, indicating the continued dominance of the bulls.
This means that bullish momentum stays strong and should present itself shortly. With the anticipated subsequent bullish surge, the Pepe Coin (PEPE) worth is prone to attain new highs alongside the higher resistance of the sample, surpassing $0.0000055.
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