Today, everyone is talking about Pepe Coin, as it has removed a zero from its value. On March 14, PEPE grabbed the spotlight and reached its highest level of interest. Its price surged by 16% during this time.
Investors are particularly intrigued by this meme coin inspired by frogs. Despite the rise in PEPE’s price, some investors see it as a chance to make profits. This development hasn’t gone unnoticed by investors and Pepe enthusiasts, attracting considerable attention.
Whale Transaction Draws Focus to PEPE Coin
As enthusiasm surges within the meme coin arena, a recent transaction by a whale has sparked considerable interest in PEPE. Spot On Chain, a prominent on-chain analytics firm, disclosed that 500 billion PEPE tokens were transferred to Binance, hinting at a potential profit-taking maneuver.
Spot On Chain’s analysis revealed that the wallet address, identified as 0x522e…28472, likely capitalized on PEPE Coin’s recent price surge. The whale sent approximately 500 billion PEPE tokens, valued at around $4.26 million, to Binance during the “10 days of the price increase.” Selling at the current market rate could yield a profit of $3.39 million for the whale.
Despite selling a significant portion of their holdings, the trader still holds 100 billion PEPE tokens, valued at $1.05 million. This suggests that the whale’s interest in PEPE remains unabated, despite the profit-taking transaction.
Pepe Coin Soars Amid Meme Coin Rally
The surge of Pepe Coin wasn’t isolated to PEPE alone; it was part of a broader uptrend in the meme coin sector. Investors demonstrated strong confidence in meme coins, igniting a widespread rally across the market.
Amidst this rally, the price of PEPE also experienced a notable 15% increase at the time of writing, reaching $0.00001037. Particularly, the third-largest meme coin by market capitalization hit its 24-hour high at $0.00001074, with its lowest point being $0.000008423. This wide-ranging price fluctuation once again underscores the volatile nature of the crypto market.
Over the last 30 days, PEPE’s price has surged approximately 850%, showcasing the significant growth and momentum within the meme coin space.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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