In a recent Twitter revelation from The Data Nerd, the crypto realm is buzzing with news of an impressive 23% surge in the trendy PEPE meme coin’s value over the last week. This meteoric rise can be attributed to an orchestrated wave of accumulation led by whales and smart wallets, igniting the meme coin market.
Currently riding a wave of popularity, Meme coins are spearheaded by PEPE and SHIB, each boasting a remarkable rally phase. In demonstrating their financial prowess, these meme coin behemoths, often called whales, have accumulated staggering quantities, including purchases exceeding the one trillion meme coin mark within a mere seven-day span.
The Data Nerd unveiled intriguing insights into the fascinating world of these meme coin whales, divulging the specifics of their high-profile acquisitions. Among the standout transactions, a newly emerged whale snapped up an impressive 41 billion coins on August 9, translating into a whopping unrealized gain of $8,700. On the same day, another notable whale amassed an eye-popping 1.07 trillion PEPE, raking in an unrealized gain of $162,000.
PEPE’s Meteoric Surge And Whales’ Dominion
Commencing on August 8, a surge thrust PEPE into prominence, elevating the coin from a modest $0.0000011261 to a peak of $0.0000014273 by August 7, demonstrating a notable 26.75% increase. Nevertheless, a slight decline has moderated the coin’s pace, resulting in the token retracing by nearly 4.44%. Currently, on the reputable OKX exchange, PEPE is being traded at $0.0000013399.
The crypto landscape is currently dotted with three standout whales, each holding substantial PEPE stockpiles. These magnates command holdings of 2.51 trillion tokens with an unrealized gain of $3.45 million (representing a jaw-dropping growth of 53,000 times), 50 billion tokens with unrealized gains amounting to $68 million, and 279 billion tokens, translating into $380,000 of unrealized gains.
PEPE Launched in April of this year by an enigmatic team of developers, meme coin embraces a distinct characteristic: it lacks utility. Compared to other meme coins like DOGE, PEPE draws inspiration from the iconic internet meme, the Frog.
On a parallel note, the meme coin arena is witnessing fervent activity surrounding the Shiba Inu token. Before the Blockchain Futurist Conference in Toronto, where SHIB was positioned as a significant sponsor, investors and whales hoarded SHIB tokens. This event spans two days, August 15 and 16, and anticipates groundbreaking announcements. On this occasion, the SHIB community eagerly awaits the unveiling of the much-anticipated Layer 2 Shibarium blockchain on the mainnet, a feat to be heralded by Shytoshi Kusama, the pseudonymous lead developer, via AI-assisted speech delivery.
Related Reading:| PEPE Soars High, Investors’ Fortunes Amplify