SNEAK PEEK
- PEPE gains traction as investors accumulate for future gains.
- Whale’s $287K investment fuels buying pressure on PEPE.
- PEPE defies bears, reaches 30-day high amid bullish trend.
In recent market developments, the renowned meme-inspired cryptocurrency, PEPE, has witnessed a significant surge in investor interest, as on-chain data analysis reveals a compelling shift in its supply dynamics.
Notably, the meme coin’s availability on exchanges has substantially declined, indicating investors’ growing willingness to acquire and hold PEPE for potential future gains.
? Even with #crypto markets slightly fading after its week of surges, $PEPE has a mind of its own. In the past 48 hours, the #memecoin has pumped +61% with whales heavily engaging on its way up. Watch trading volume to see if it stays at this high level. https://t.co/IvoWhfXa2s pic.twitter.com/gxn9ji2sqj
— Santiment (@santimentfeed) June 22, 2023
As savvy investors seek alternative opportunities in the crypto space, PEPE’s accumulation trend gains further support from the notable increase in holders over the past few days. This surge in new holders suggests rising confidence in PEPE’s long-term prospects, contributing to the overall positive sentiment surrounding the coin.
Buying Pressure on PEPE Intensifies as Whale Invests $287,000
Moreover, recent market signals highlight the growing momentum behind PEPE, as a recent tweet from Lookonchain divulges a noteworthy development. According to the tweet, a prominent whale has seized the opportunity to invest a substantial sum of $287,000, equivalent to 4.54 million USDC and 150 ETH, to acquire a staggering 3.43 trillion PEPE tokens.
Whale”0x31f5″ spent 3.5M $USDC to buy 3T $PEPE last time, then deposited 3T $PEPE to #Binance and withdrew 2.76M $USDC, with a loss of ~$741K.
You can check my previous tweet.https://t.co/CSY6GBw865 pic.twitter.com/UhBV7D9X3P
— Lookonchain (@lookonchain) June 22, 2023
This whale’s sizeable investment underscores the increasing attraction towards PEPE and signifies a surge in buying pressure surrounding the meme coin. Such buying pressure often indicates positive market sentiment, potentially leading to further upward price momentum and market expansion for PEPE.
PEPE Market Analysis
Positive enthusiasm in the Pepe (PEPE) market effectively defied bearish attempts, propelling the price from a low of $0.000001416 to a new 30-day high of $0.000001676 in the previous 24 hours.
The bullish trend was still strong at of press time, evidenced by the 9.57% increase to $0.000001573.
During the bull run, Pepe’s market capitalization and 24-hour trading volume increased by 9.63% and 5.39%, respectively, to $616,060,557 and $727,700,562.
In conclusion, PEPE’s surge in investor interest and growing buying pressure indicate a positive market sentiment, paving the way for future gains.
Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.
