Crypto Whale’s Big Bet On Pepe Coin Rising The Crypto Market

Crypto Whale Purchases 982 Billion Pepe Coin, Igniting Bull Run Hopes

In the cryptocurrency market, new cryptocurrencies are launched almost every day. Some of them gain popularity, while others get delisted shortly after their launch. Among the thousands of cryptocurrencies available, a few manage to establish a distinct identity in a short period. 

One such cryptocurrency is the meme coin Pepe, which has taken the crypto market by storm since its launch. This token has become so popular in a short time that it is now competing with other meme coins like Shiba Inu and Dogecoin. 

In recent days, there has been a bullish trend in this meme coin. Over the past month, the price of $PEPE has increased by more than 73.9% currently trading at $0.00001384. Another piece of news related to Pepe Coin has surprised its holders and investors in the crypto market. According to the on-chain analytics platform LookOnChain, a crypto whale has purchased approximately 982.56 billion PEPE coins worth around $13.6 million. It is reported that the whale address 0x83768.. deposited 390.56 billion PEPE from Binance. In less than two days, this address was seen collectively accumulating Pepe Coin.

However, some crypto experts believe that the whale's large purchase of Pepe Coin may have been made to pump the token's price. As soon as this news spread, the entire crypto market started believing that a bull run in PEPE might have begun and the price of this meme coin could see further increases in the future. Although the price of PEPE had already been rising for some time, the news of the whale's investment in Pepe Coin accelerated the buying sentiment in the market resulting in a price surge.

The rise in Pepe's price has also spread the sentiment among investors that large crypto whales are booking profits from high-priced cryptocurrencies like BTC and ETH and investing in smaller cryptocurrencies, especially meme coins. Interestingly, these crypto whales avoid investments in popular meme coins like DOGE and SHIB and instead prefer new crypto tokens. This has made Pepe Coin a favorite among crypto whales and investors. Now consider it a better investment than other cryptocurrencies.

Pepe Coin is Ready to Storm the Crypto Market Again

The meme coin Pepe was listed in April 2023 and it immediately attracted investors, resulting in its inclusion in the top 50 cryptocurrencies within a few months. This meme coin created a buzz even before its listing, making it popular among long-time crypto investors. A large community formed around this token, playing a significant role in its price increase. Since its launch, PEPE has stormed the crypto market challenging the dominance of other meme coins.

The current statistics related to Pepe Coin suggest that this token, which has already reached its all-time high, will likely maintain its upward trajectory shortly. The price movement of PEPE is expected to continue its bullish trend following a breakout from a bullish flag pattern. Therefore, it is believed that Pepe Coin may replicate its past performance in the future. Investors in this token also hope that Pepe will surpass the $1 mark before Shiba Inu.

Conclusion

As per CoinGabbar, Pepe Coin has quickly gained significant traction in the cryptocurrency market, surpassing other popular meme coins and attracting major investments from crypto whales. With a strong community and consistent upward momentum, Pepe Coin is poised for further growth, potentially reaching new highs and maintaining its position as a favorite among investors. The recent whale purchases and market trends suggest a bullish future for this meme coin.

Also Read: Suno AI Music Platform Attracts $125 M Investment