Amidst PEPE’s remarkable price surge this year, climbing from $0.0000009 to $0.000008, the accumulation of Pepe Coin is on the rise, hinting at potential further gains for the meme token.
The trend of accumulating Pepe coin has become increasingly prevalent during this year’s impressive bull run of the frog-themed meme token. Today, on May 11, data from an analytics platform revealed a significant purchase of 650 billion PEPE by crypto investors, sparking optimism about the future price trajectory of the meme cryptocurrency.
Despite PEPE’s surge from a low of $0.0000009 to a high of $0.0000099 in March, recent days have seen substantial accumulations of PEPE, either by whales or investors, estimated to be in trillions. This surge in accumulation adds an intriguing dimension to the token’s price dynamics moving forward.
Here’s an in-depth look at Pepe coin’s current market statistics and price movements:
PEPE Accumulations – Trending in the Crypto Realm:
According to data from LookOnChain, investors acquired 649.16 billion PEPE in the past 24 hours, with several unidentified addresses acquiring significant amounts of Pepe coin from exchanges. Address 0xa145 withdrew 350 billion PEPE, valued at $3.44 million, from Binance, one of the leading centralized exchanges. This address is known for swing trading and has reportedly made a profit of $2.66 million with the frog-themed meme coin. Additionally, the address holds 67 different tokens, with Shiba Inu and Pepe coin as its top holdings. Meanwhile, addresses 0xa4Fd, 0x895f, and 0x24E3 purchased 123.66 billion, 101 billion, and 74.5 billion PEPE, respectively.
These substantial accumulations, amidst PEPE’s ongoing upward momentum, have fueled optimism regarding the token’s potential for further gains.
Pepe Coin’s Price Fluctuations:
Currently, PEPE’s price has declined by 0.27% to $0.00000867, with the token’s chart indicating trading activity in both red and green zones. The 24-hour trading range reflects a period of sideways movement, with lows at $0.000008219 and highs at $0.000008906. Despite the token’s consolidation, recent reports indicate a whale acquiring roughly 350 billion PEPE, adding to the optimism surrounding Pepe coin’s future price movements.
At present, Coinglass data shows a 1.64% increase in PEPE’s open interest, reaching $98.81 million, while derivatives volume has decreased by 0.32% to $822.18 million. These factors, combined with significant accumulations in recent days and anticipation of a post-BTC halving rally, maintain positive sentiments regarding Pepe coin’s long-term outlook.
