Increased Whale Accumulation Signals Potential Price Surge for PEPE
- PEPE is experiencing a surge in whale accumulation near a critical level.
- Binance.US listing of the meme coin could trigger a significant price explosion.
PEPE, the meme coin, has witnessed a substantial price increase driven by bullish momentum. However, the recent surge in whale activity indicates a potential for a significant move as whales position themselves for the long term.
PEPE Whale Activity
Recent data from Lookonchain reveals a continued accumulation of PEPE by whales, despite some long-term holders taking profits. One notable whale deposited 356.2 billion tokens valued at $7.3 million on Kraken, resulting in a return profit of 31x. Additionally, another whale has been accumulating PEPE tokens aggressively over the past 20 days, withdrawing 337 billion tokens worth nearly $7 million from Binance.
This accumulation trend coincided with a price surge in the broader meme market, which has been boosted by the “Trump trade” narrative.
Market Data Insights
According to IntoTheBlock data, PEPE has seen a 3% decline in large transactions over the past week. However, the number of addresses in profit has increased to 83%, with only 1% of holders experiencing losses. Holders at breakeven currently account for over 54.8k addresses, representing 15.6% of total holders.
PEPE Price Outlook on Binance Listing
Binance.US is set to list PEPE for trading on December 5, which has already impacted the meme coin’s price positively. The token has maintained a consolidation range of $0.00001919 – $0.00002109 in the past 24 hours and has shown significant gains over the past week, month, and year.
With a market cap of $8.69 billion and a 24-hour trading volume exceeding $4.2 billion, PEPE is positioned as the third-largest meme coin in the market, following Shiba Inu and Dogecoin.
