PEPE Whale Inflow Skyrockets 4,479% in 24 Hours: What’s Next?

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As a seasoned researcher with a keen eye for trends and patterns in the cryptocurrency market, I must admit that the surge of PEPE has caught my attention. With a staggering 4,479% increase in large holder inflows, it’s hard not to be intrigued. The whale movement from Wintermute to Robinhood, potentially indicating institutional buying, is a significant development.

As a crypto investor, I’ve noticed an incredible 4,479% increase in the inflow of funds into frog-themed cryptocurrency PEPE, as reported by IntoTheBlock. This surge seems to be driven by the accumulation of large amounts of this digital currency in whale wallets.

The increase in whale investments (large holders) could be a positive sign on the cryptocurrency market, indicating that big players are confident about the market. For example, the coin called PEPE has seen this optimism lead to a surge of investments, resulting in record-breaking prices for the coin.

Through one instance of whale activity, Whale Alert noted a 506.8 billion dollar inflow (equivalent to about 11.4 million US dollars in PEPE tokens) being sent from Wintermute to Robinhood.

Robinhood listed PEPE this week, thus the move could be indicative of institutional buying.

PEPE hits all-time high

In simple terms, since its lowest point on November 5 at approximately $0.0000078, the price of PEPE has skyrocketed to a record high of $0.0000258 on November 14, representing a staggering increase of around 250%. Over this period, PEPE has closed higher on nine out of eleven trading days.

The price encountered resistance at its all-time high of $0.0000258, causing PEPE to fall. PEPE is currently down 1.16% in the last 24 hours to $0.0000214, after rising 97% in the previous seven days.

Over the approaching period, the focus will shift towards the price of PEPE, which has just reached a record peak of $0.0000258; the upcoming objectives for PEPE are set at $0.00003 and $0.00004. If there’s a downturn, anticipate support at around $0.000018.

PEPE scores new listings

This week, significant cryptocurrency platforms have started listing PEPE, the meme coin. As of November 13th, Robinhood Crypto has made it possible for American users to trade PEPE along with digital currencies such as Solana, Cardano, and XRP.

After Robinhood made an announcement, it was then revealed by Coinbase that PEPE would be available on their platform. As the biggest cryptocurrency exchange in the U.S. and the third-largest globally based on trading volume, this listing is anticipated to significantly increase PEPE’s popularity.

On November 16th, it was announced that Upbit, the biggest cryptocurrency exchange in South Korea, started supporting PEPE trading pairs as well.

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2024-11-15 18:26