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Massive Whale Activity Propels PEPE to $11B Market Cap Milestone

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  • PEPE gains $1.14B in whale holdings, boosting market confidence.  
  • Exchange listings drive PEPE’s market cap beyond $11 billion.  
  • Whales buy 190B PEPE tokens, signaling bullish accumulation trends. 

PEPE sees explosive growth with recent listings on Binance.US and Coinbase, combined with $1.14B in whale accumulation. The token’s $11B market cap highlights its prominence as a leading meme coin in a bullish crypto market.

PEPE Surges Due to Crypto Exchange Listings

PEPE’s dominance in the cryptocurrency market has increased due to the token listing on some major U.S-based exchanges. Binance US recently listed the frog-themed meme coin to its platform making it more accessible. Additionally, PEPE was previously listed on Coinbase and Robinhood which has increased its accessibility for trade and investment.

PEPE market capitalization has now gone past $11 billion which indicates its increased dominance in the crypto space. PEPE has also benefited from the cryptocurrency market rally following the U.S Presidential elections that pushed Bitcoin reach $100,000 for the first time. PEPE value has increased by more than 27% in the last week. These developments have seen PEPE outperform Dogecoin and Shiba Inu in past weeks.

Whales Boost $PEPE Holdings by $1.14B in a Single Day

Whales have rapidly increased their PEPE assets which shows a change in whale’s market activity. Wallets with over $10 million invested in PEPE experienced a $1.14 billion increase in one day. As of December 7, 2024, these wallets had $7.56 billion in PEPE which indicates a massive whale accumulation activity.

Data from SpotonChain reveals a shift in redistribution of PEPE from smaller wallets to larger wallets over the last 30 days. The larger and middle-sized wallets increased their balances while the smaller wallets decreased their balances. For instance, wallets with balances of $10000–$100,000 and $1million–$10 million increased by 84.25% and 119.91% respectively.

Massive Whale Activity Signals Bullish $PEPE Market Moves

Transaction records show concentrated purchases by whales which further supports PEPE’s bullish trend. Two wallets which are likely owned by the same company , purchased 190.14 billion of PEPE for $4.89 million within six hours. A single transaction accounted for 91.36 billion PEPE worth $2.26 million.

Other purchases include $1.58 million for 58.93 billion PEPE and $1,04 million for 39.85 billion tokens to maintain the accumulation trend. This consistent high-volume accumulation shows the influence of whales in shaping PEPE’s market dynamics. These events usually come before price fluctuations and show increased investor interest in PEPE’s potential.