Home > Information news > PEPE Price Surges 5% as Whale Makes $2.9 Million Purchase

PEPE Price Surges 5% as Whale Makes $2.9 Million Purchase

Release: 2024/06/10 14:03 Reading: 920

Original author:The Crypto Times

Original source:https://coinmarketcap.com/community/articles/6666895bd48c170acd660d79

PEPE Price Surges 5% as Whale Makes $2.9 Million Purchase

Crypto Whale's Massive PEPE Purchase Sparks Optimism

A single-day purchase of 231 billion PEPE tokens, valued at $2.9 million, has ignited a 5% price surge, boosting investor confidence.

Whale Strategy and Confidence

The whale employed a discount strategy, acquiring tokens when PEPE prices were low. Lookonchain, a crypto analytics platform, verified the purchase, signaling the whale's belief in PEPE's potential.

Recent Whale Activity

This isn't the whale's first PEPE acquisition. Since March 16, it has accumulated 750.34 billion tokens from Kraken, investing approximately $8.34 million at an average price of $0.00001111.

Market Dynamics

Despite PEPE reaching its all-time high (ATH) recently and experiencing a subsequent 26.38% decline to $0.00001262, the whale remains bullish on its future prospects. Market analysts suggest that altcoins like PEPE, with a history of outperforming the market, still have growth potential.

Positive Memecoin Market

The broader memecoin market has also shown positive signs. In the past 24 hours, its total market capitalization has risen by 1.95% to $58.79 billion.

Key Memecoin Contributors

Dogecoin (DOGE) has gained 0.6% to $0.1477, while PEPE has climbed 1.82% to $0.00001268, contributing to the market growth. Other tokens like Dogwifhat (WIF) have also shown gains, rising by 0.77% to $2.769.

Community Support and Innovation

FLOKI's BNB Chain holders have surpassed 417,000, demonstrating strong community support. Innovations like Shibarium for Shiba Inu and TokenFi for Floki have stimulated demand for these tokens.

Long-Term Outlook

Despite fluctuations, PEPE's dedicated community remains optimistic about its long-term potential, aiming to challenge the dominance of coins like SHIB and DOGE.

Strategic Move and Investor Sentiment

The significant PEPE purchase is seen as a positive sign by investors, leading to a price surge and fostering optimism. The whale's strategic move indicates confidence in PEPE's growth potential and long-term value.

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