In an exhilarating plot twist witnessed right now, May 23, Pepe coin whale accumulations have once more taken the cryptocurrency realm by storm. Despite the frog-themed meme token already being on a bull run, a whale has additional amassed huge quantities of PEPE, birthing sentiments of extra value features within the pipeline.
Remarkably, PEPE has already defied the broader market expectations, hovering to unprecedented ranges in current days. This unpredictability has stirred up ideas of a possible due correction looming for the meme coin. However, the huge PEPE accumulation has, in flip, sparked contrasting market sentiments.
PEPE Whale Accumulation Propels Market Optimism
According to the insights revealed by the on-chain analytics platform LookOnChain, the whale deal with 0x83768.. amassed a staggering 390.56 billion PEPE from Binance right now, May 23. Moreover, in lower than two days, the identical deal with has been recorded to have collectively purchased a whopping 982.56 billion PEPE, value $13.6 million, echoing a frenzy amid the meme coin’s continued upside momentum.
Notably, PEPE even hit an ATH right now, at $0.00001467. However, as a substitute of selloffs on account of potential profit-taking behaviors, Pepe coin accumulations surfaced throughout the market, underscoring the whale’s confidence within the asset for additional features.
Meanwhile, it’s additionally value mentioning the Pepe coin topped the $6 billion market cap right now, overtaking Internet Computer Protocol (ICP) in rankings. This additional provides to the optimistic market buzz birthed by Pepe coin.
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PEPE Price Soars
As of writing, Pepe coin’s price famous a 4.85% upswing previously 24 hours and is presently buying and selling at $0.00001371. The frog-themed meme token’s 24-hour lows and highs are $0.00001306 and $0.00001467, respectively.
It’s value noting that regardless of appreciable PEPE liquidations recorded previously 24 hours, value $6.20 million, the meme coin has retained its upside motion. This additional provides a bullish tint to the token’s cryptographic enterprise.
However, the RSI rested at 74, hinting that the token has reached overbought territory. This may imply {that a} value correction looms, though PEPE has already defied typical market sentiments.
Also Read: Bitcoin Price To Hit $250K Ahead, Says London’s CrossBridge Capital MD
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