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PEPE cryptocurrency has witnessed a remarkable surge of over 10% in the last 24 hours, leaving investors and analysts alike wondering about the driving forces behind this rapid ascent.
PEPE price chart
With a 31% increase in the past week, PEPE has caught the attention of traders and crypto enthusiasts. Let’s dissect the recent developments that may be contributing to this impressive price rally.
Whale accumulation of PEPE on Binance
PEPE’s recent surge can be attributed to the strategic moves of significant players like whales and early buyers who are actively accumulating PEPE tokens. These transactions demonstrate a strong belief in the project’s potential.
Address 0x710 strategically acquired a staggering 1.029 trillion $PEPE tokens from Binance. This significant purchase, totalling $835,000, took place on September 29 at 5:19 AM (UTC). The whale then promptly transferred the accumulated tokens to a fresh address, 0xf53, sparking curiosity among observers.
Earlier, another early buyer and whale, 0x0be, on September 28 at 19:20 PM (UTC) swapped 390 ETH for 875.6 billion $PEPE, amounting to $645,000. Currently holding 1.92 trillion $PEPE, 0x0be has been actively engaged in the market, completing two trading cycles. The first cycle yielded substantial gains, while the second cycle appears to be marked by unrealized losses.
Another Address 0x0a8 that entered the scene on September 28 at 21:39 PM (UTC) swapped 465,839 USDC for 629.2 billion $PEPE at a favorable rate. The address now holds 729.2 billion $PEPE tokens across two addresses. Notably, this address had previous involvement in $PEPE trading, which resulted in certain gains and losses.
Amid these huge PEPE coin movements, it is important to note that PEPE’s price is highly volatile, and market conditions can change rapidly. Traders and investors should exercise caution and conduct thorough research before participating in the cryptocurrency market.
The post Pepe price up 31%, whales accumulate trillions of $PEPE appeared first on Invezz.
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