Pepe coin (PEPE) has been taking the cryptocurrency market by storm, tallying alongside the titans, Bitcoin (BTC) and Ether (ETH), in a weekend of impressive price surges. As Bitcoin carves new frontiers with unprecedented all-time highs, Ether has achieved a milestone by crossing the $4,000 threshold for the first time in a span of two years. Not one to be left behind, Pepe coin jumped on the bandwagon by notching its own all-time high over the weekend, an event that saw seasoned investors, often referred to as ‘whales’, harvesting substantial profits.
Following its release in April of yesteryear, the whimsical frog-themed coin hopped into prominence in both the growing crypto realm and the niche memecoin market, swiftly becoming a symbol of the latter’s unpredictable excitement. Pepe coin’s initial sizzle had waned, as the limelight shifted towards rivals such as BONK and a suite of Solana-based memecoins. Nonetheless, the recent bull run has injected new vigor into the market, catapulting values to peaks not witnessed since the previous year. PEPE, seizing the bullish tailwinds, has surged remarkably.
Recent data from blockchain analytics firm Lookonchain reveals a tale of a whale profiting a massive 431% in the short span of two weeks. The detailed blockchain records outline how this savvy trader maneuvered over 1 trillion PEPE tokens out of Binance via a series of strategic transactions preceding the coin’s ascension in value.
A deep dive into these transactions reveals the whale’s tactics: 713.12 billion PEPE tokens were transferred 15 days back at a modest price point of $0.00000138. The next wave, 316.36 billion tokens, exited Binance’s platform the following day with the token’s valuation at $0.00000180. The final movement of 116.7 billion tokens took place as the price hovered at $0.00000269. Altogether, these withdrawals totaled an astonishing 1.19 trillion PEPE tokens, initially costing approximately $1.88 million. Merely a day prior to this report, the whale strategically returned 196.18 billion tokens to Binance, pocketing profits soaring to $1.7 million.
Even though a portion of the investment was realized, the whale’s digital wallet still brims with 1 trillion PEPE tokens, valued at an impressive $8.13 million at the moment of the abovementioned report. The evaluation of these holdings has since inflated by over $1 million, to a staggering worth of $9.13 million.
Echoing the sentiments of a NewsBTC report, since February’s closing days, there has been a discernible trend of whales capitalizing on their PEPE coin investments as the memecoin stages a remarkable comeback.
PEPE’s trajectory is nothing short of phenomenal with an 800% surge that has left the community and observers alike astounded. The past fortnight flaunts an impressive 549% jump in price, with the coin achieving an awe-inspiring 799.5% increase over the past 30 days alone.
This upward spiral has vaulted Pepe coin to celebrity status in the memecoin rankings, even eclipsing competitors like BONK and CorgiAI. Now reigning as the third-largest memecoin by market capitalization, which stands at $3.85 billion, PEPE continues to gain traction, evidenced by an 8.41% increase over the past day.
In synchrony with its rising stature, PEPE’s daily trading volume has seen an uptick of 16.85% to $1.49 billion, indicating a burgeoning interest and heightened market activity in the token within just 24 hours.
At its present trading value of $0.000009135, PEPE exhibits an 8.5% increase since yesterday, albeit reflecting a minor 5.95% retraction from its recently set all-time high of $0.000009793. The robust performance of Pepe coin over the past five days underscores the magnetism and the thrill the memecoin adds to the ever-evolving crypto landscape.
