PEPE Surges 11.9% as Investors Buy 14.5T Tokens
The Most Important Points at a Glance
- Large investors (“whales”) purchased 14.5 trillion PEPE tokens within a single day.
- The trading volume of large transactions increased by 170.83%.
- The price of PEPE rose by 11.9% before experiencing a slight correction.
- Market data indicates a continued bullish sentiment.
Massive Purchases by PEPE Whales
Large investors acquired a significant amount of PEPE tokens within a single day. According to data from IntoTheBlock, the inflow of large holders surged by 419%, from 2.8 trillion to 14.55 trillion tokens. This suggests that institutional investors or wealthy individuals are increasingly investing in the memecoin.
Additionally, the number of large transactions increased from 96 to 260, indicating a significant rise in trading activity. The net inflow of large holders also rose from -105 billion to 8.22 trillion PEPE tokens, suggesting that more capital is entering the market than being withdrawn.
Impact on the PEPE Price
The increased demand from whales led to a rise in PEPE’s price. Within a day, the token reached a peak of $0.00000817 – the first time in three weeks. Afterward, the price slightly declined to $0.0000079.
Despite this correction, market sentiment remains positive. Data from Coinglass shows that the net inflow in the spot market has dropped to -$4.93 million. This means that more tokens are being withdrawn from exchanges than deposited, indicating continued accumulation.
What’s Next?
If demand remains high, PEPE could attempt to reach the $0.0000090 mark. However, there is also a risk that short-term investors may take profits, causing the price to drop to $0.0000074.
Our Assessment
Current market data shows strong interest from large investors in PEPE. The significant increase in whale activity signals confidence in the token. As long as demand remains high, the positive trend could continue. However, investors should keep an eye on potential profit-taking, which could lead to short-term price declines.
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