- Whale trades hint at PEPE’s bullish breakout
- PEPE drops 5.57% but investor interest grows
- Memecoin market eyes recovery amid Bitcoin shifts
PEPE stands as one of the most frequently traded memecoins even after experiencing recent market price movements. The current market developments along with whale activity patterns suggest a major price increase might happen soon.
Whale Transactions Indicate Strong Market Presence
Onchain data reveals that a major PEPE investor, often referred to as an OG whale, has been actively trading large amounts of the token. According to blockchain analytics platform Lookonchain, this investor initially purchased 1.5 trillion PEPE for only $2,184. At its peak, the holdings were valued at over $43 million.
The whale has since sold 1.02 trillion PEPE for $6.66 million but still retains 493 billion PEPE, currently worth approximately $3.64 million. This means the investor has secured a total profit of $10.3 million, achieving an impressive 4,718x return.
Despite this selloff, the market has seen increased accumulation from other investors. Earlier this week, another whale purchased 500 billion PEPE, demonstrating continued confidence in the token’s potential. This suggests that while large transactions may introduce short-term price shifts, the overall outlook for PEPE remains strong.
Memecoin Market Trends and PEPE’s Potential Surge
PEPE stands at $0.0000073 with a 5.57% value drop in the latest 24 hours. During the previous seven days the token displayed strength through a 0.54% increase while wider market fluctuations occurred. The cryptocurrency sector-wide plunges have caused PEPE tokens to decrease by 62% since the beginning of the year.
The memecoin market maintains its popularity with investors who continue showing interest. The cryptocurrency market includes multiple tokens which have recently changed in value including Dogecoin along with Shiba Inu. The altcoin market could experience a powerful gain if Bitcoin recovers from its dip which could push PEPE to reach new record highs.
Memecoins prove their worth in generating sizable profits because some investors can convert minimal starting money into multimillion-dollar gains. The ongoing high market activity together with sustained social media interactions establishes the potential for PEPE to break out for new record highs.
