Pepe Coin (PEPE) has been one of the major contributors to the ongoing meme coin craze in the market. Last week, the price of PEPE increased by a staggering 263%. Over the last 24 hours, PEPE has added a 40% increase to its price, currently trading at $0.000004366, as its daily trading volume increased by 200% to $2.31 billion.
Pepe Coin Also Participated in the Meme coin Festival
meme coin, has been one of the best performing altcoins in the market recently. The significant increase in PEPE’s market value can be attributed to a combination of underlying fundamental and technical factors. A pivotal moment came when Binance introduced a special offer aimed at encouraging the purchase and holding of PEPE.
This initiative served as a clear validation of PEPE by Binance by providing free tokens and improved returns, attracting further interest from investors. This strategic maneuver not only increased PEPE’s trading volume, but also reinforced investor confidence, playing an important role in the overall market performance.
PEPE Whale Movements
Koinfinans.com As we reported, Lookonchain, a blockchain analysis platform according tothe world’s largest animal by a whale yesterday cryptocurrency An important move was made by depositing approximately 2 trillion PEPE tokens into one of the exchanges.
The whale’s accumulation journey began on June 7, 2023, when Pepe Coin was trading at $0.000001054. From June to December of that year, the address accumulated 1.97 trillion Pepe tokens.
About two months after this six-month buying spree, the whale deposited all of his PEPE assets, worth approximately $6.07 million, on Binance. According to the blockchain analysis platform, the whale made a profit of over $3.49 million in a few hours.
A smart whale deposited all 1.97T $PEPE($6.07M) to #Binance and made a profit of $3.49M.
Then he changed his position from $PEPE to $SHIBwithdrawing 75.9B $SHIB($893K) from #Binance 3 hours ago.https://t.co/X67O2VjR1y pic.twitter.com/nL7rRDZCXT
— Lookonchain (@lookonchain) February 29, 2024
Pepe coin, which recently broke above $0.000003537, has entered a price discovery phase with the possibility of moving even higher from here. RSI is trending close to average levels. However, it has remained consistently above, indicating the bulls’ continued dominance.
This shows that the upward momentum remains strong and may manifest itself in a short time. With the next expected bullish wave, Pepe Coin (PEPE) price is likely to reach new highs along the upper resistance of the formation and surpass $0.0000055.
