It appears that meme coin PEPE is once again attracting attention from large cryptocurrency investors, as over 480 billion tokens were quickly purchased within just a few hours. This observation is based on data from the analytics platform Spot On Chain, which suggests that two major crypto investors have made substantial moves involving the PEPE token. This has sparked speculation that a possible resurgence for PEPE might be imminent.
As reported by Spot On Chain, it appears that whales have been amassing the cryptocurrency PEPE as of late. Notably, a fresh whale account identified as “0x8f5” has withdrawn approximately 280 billion PEPE, equating to around $5 million, from Binance in recent hours.
It appears that whales are amassing PEPE tokens!
– The whale identified as “0x8f5” withdrew approximately 280 billion PEPE (equivalent to $5 million) from Binance just 4 hours ago, and also accumulated 47.4 million JASMY ($1.54 million) a day earlier.
– Another whale, “0xb1a”, recently spent 3.72 million USDC to purchase around 200.4 billion PEPE tokens within the last half hour. Interestingly, this same whale had previously experienced losses…
— Spot On Chain (@spotonchain) January 13, 2025
A different whale identified as “0xb1a” has just entered the fray, investing 3.72 million USDC to acquire approximately 200.4 billion PEPE tokens. It’s intriguing to note that this same whale had previously incurred a loss of $1.45 million from transactions involving PEPE. However, the whale seems undeterred by this past setback and is instead increasing its stake, potentially predicting an upcoming surge.
PEPE is poised to grow its presence in the Japanese cryptocurrency scene by being listed on Binance. On January 9th, Binance Japan made the announcement that PEPE will be available for trade. This means you can now trade Pepe (PEPE) on the spot market. With this addition, the total number of tokens offered on Binance Japan has increased to 57.
It’s possible that this development boosted the positive outlook towards PEPE, as it’s expected to pick up speed and attract more attention. Given the recent downturn in the cryptocurrency market, large investors might be preparing for a recovery of meme tokens like PEPE, which could explain the recent activity.
PEPE price slumps
currently, PEPE has dropped by 8.64% within the past day, trading at approximately $0.00001611. This decline follows Bitcoin‘s drop to almost a two-month minimum and a general trend of investors moving away from riskier investments.
As an analyst, I observed a significant dip in Bitcoin’s price on Monday, reaching approximately $90,000 – the lowest since November 26. The crypto market landscape was largely bearish, with PEPE following suit, reflecting the overall trend. Over the past week, PEPE has experienced a 22% decline.
On Friday, robust job figures in the United States prompted traders to scale back their bets that the Federal Reserve might lower interest rates imminently, adding to the market turbulence that has characterized the beginning of 2025.
On December 9, 2024, PEPE attained a record highest price of 0.000028, but since then it has dropped by 42.6%.
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2025-01-13 18:00