PEPE appears ready for a big jump while attracting both investor’s and analysts’ gaze. In contrast to other altcoins, which took a big hit during the recent market slump when Bitcoin (BTC) was down by about 4%, the meme coin remained resilient, showing strength amidst the fall.
However, faced with imminent collapse, this meme coin did not shake. In the past month, it has experienced an impressive surge of almost 25%, which indicates that it has performed well and may grow further.
At the time of writing, the meme coin is priced at $0.058691 with a noteworthy 24-hour trading volume of $754.40 million, and its market capitalization remains at $3.66 billion. Significantly, over the last 24 hours, the meme coin increased by 4.61%, fortifying its upward momentum. Furthermore, over the last week, the meme coin rose slightly by $0.40%, signifying its positive direction.
PEPE Whale Activity Surges: Analyst Eyes New ATH
One notable factor contributing to the meme coin’s bullish momentum is the surge in whale activity observed in recent transactions. According to data from Lookonchain, several whales have been actively accumulating PEPE tokens, signaling a growing interest in the meme coin. For instance, address 0xa145 substantially withdrew 350B $PEPE ($3.44M) from Binance, showcasing adeptness in swing trading and achieving a commendable profit margin of approximately $2.66M.
Similarly, another address 0xa4Fd allocated 1.09M $USDC to acquire 123.66B the meme coin at a favorable price point, while 0x895f withdrew 101B $PEPE ($885K) from Binance, indicating confidence in the meme coin’s potential. Additionally, address 0x24E3 recently invested 661K $USDC to secure 74.5B $PEPE, further bolstering the token’s positive sentiment.
Prominent crypto analyst Crypto Tony also shared his optimistic outlook about PEPE’s future price performance. The analyst foresees a new high for PEPE, attributing it to the meme coin’s inherent strength and promising price action, which bodes well for investors seeking profitable opportunities in the cryptocurrency landscape.
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