Crypto Whales Accumulate Billions of PEPE Amidst Price Surge Warning


Buzzing with electrifying energy, the crypto realm has lately been enlivened by the scintillating performance of the meme coin Pepe, or PEPE, which recently soared to its all-time high. The unexpected jolt of success has captivated the attention of crypto whales, wading into these digital infested waters with an intriguing accumulation of the PEPE coins in their portfolio. This may suggest an opportune moment to invest, but crypto aficionados warn that may not be the right move just yet.

Routine eyes on the blockchain analytics platform, Lookonchain, recently highlighted a crypto behemoth acquiring an astounding 520 billion PEPE tokens from the trusted crypto exchange platform Binance. This gigantic leap, however, could be driven by the dreaded fear of missing out domino or FOMO, that topples even the shrewdest crypto investor. Support for this theory comes from Lookonchain noting that the whale’s investment habits haven’t always been foolproof. In fact, their previous investments have amounted to a staggering loss of $6.1 million.

Follow us on Google News! ✔️

Simultaneously, careful scrutiny of on-chain data betrays another crypto leviathan who bagged over 200 billion PEPE tokens through the trading agency Cumberland. Regardless of their motives, such mammoth accumulations by whales often deliver a positive signal to the crypto world, painting a bullish landscape for the coin involved. Hence, many investors might be tempted to seize this moment and invest, expecting further price spurts.

However, seasoned investors caution that it may not be an advisable move. Data from IntoTheBlock implies a potential imminent price drop for PEPE before it leaps to the upside again. As per the platform, all holders of PEPE were in the black, thanks to the meteoric rise of the meme coin to a new zenith. Now, these holders might want a return on their investments, prompting a flurry of sell-offs that could potentially cause a drop in PEPE’s value. Consequently, for those contemplating investment in PEPE, patience may be crucial. Lying low until PEPE bounces back from the selling onslaught might be the best course of action.

Contrary to the cautionary voices, crypto analyst Rachid Crypto foresees promising momentum for PEPE. His prediction is based on multiple factors; key amongst them are a yet-to-kick-off “mega meme cycle” and the impending altcoin season. Both are potential factors that could fuel a further rise in PEPE’s value.

Additionally, PEPE’s path remains untrodden on some well-established crypto trading arenas like Coinbase and Robinhood. This implies a vast pool of liquidity that could seep into PEPE’s ecosystem. Subsequently, any future inclusion of PEPE on these trading platforms could precipitate a potential upward trend in its price.

Also, Rachid Crypto projects an impressive upwards trajectory for Ethereum, hinting at another tailwind waiting to lift PEPE’s value. Often, PEPE’s price correlates well with Ethereum’s. Therefore, should Ethereum’s price escalate, PEPE could enjoy a massive fillip.

However, recent data from CoinMarketCap revealed a minor setback. As of now, PEPE is trading at approximately $0.00001056, down by over 5% in the past 24 hours. Nonetheless, the prophecy of PEPE’s future glory persists among optimistic investors, crypto analysts and traders who remain spellbound by the coin’s emotional roller-coaster journey.