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Can PEPE Maintain Its Bullish Momentum Amidst Increasing Whale Activity?

Published 02/28/2024, 06:41 PM
Updated 02/28/2024, 06:45 PM
Can PEPE Maintain Its Bullish Momentum Amidst Increasing Whale Activity?
ETH/USD
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  • PEPE coin skyrockets by 60%, and Whales profit by selling 1.98T coins for $4.37M.

  • Idle for 650+ days, a wallet cashes out 1.03T PEPE pre-hike, nets $1.34M.

  • PEPE’s active wallets surged 85%, and transactions over $500K spiked, indicating robust market interest.

The Pepe (PEPE) coin took a massive leap in value with a jump of over 60%. This sharp price increase has been accompanied by a wave of profit-taking by large holders, causing massive sales and profits in the ecosystem.

PEPE/USD 24-hour price chart (source: CoinStats)

Concurrently, PEPE’s bullish momentum has had the upper hand, with the price up 35% at press time, trading at $0.000002842. During the rally, PEPE’s market capitalization and 24-hour trading volume surged by 35% and 78.52%, respectively, to $1.2 billion and $1.45 billion.

PEPE Whales Take Advantage

This surge in the price has witnessed six wallets disposing of 1.98 trillion PEPE, worth about $4.37 million, taking around $2 million in profits. This action highlights the tactical play of these investors, letting the coin’s momentum reap hefty profits.

The post Can PEPE Maintain Its Bullish Momentum Amidst Increasing Whale Activity? appeared first on Coin Edition.

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