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PEPE Coin Price Rally: Trader Gains $5M in 8 Days as Memecoin Popularity Grows

Published by
Debashree Patra

Pepe (PEPE) is drawing attention as one of the leading meme coins. According to Spot On Chain, a whale recently deposited 52.62 billion PEPE (valued at $10.03 million) into Binance, marking a $5.04 million profit (+97%) in just eight days. Following Coinbase’s listing announcement, PEPE’s price surged by about 61% within 24 hours. Interestingly, if the whale had held a bit longer, their profit could have reached $6.68 million. 

Whale Activity Sparks PEPE Price Rally

Large transactions involving PEPE have skyrocketed, with data from IntoTheBlock showing a jump from 100 to over 1,020 in a week. Whale inflows rose 104% over the past week and 195% over the past month, indicating strong investor confidence. On-chain analyst @ai_9684xtpa noted a whale with a 2.02 trillion PEPE position sent 500 billion tokens ($11.17 million) to Coinbase, positioning for a potential $10.52 million profit. The remaining holdings boast a floating profit of $35.26 million with a return rate of 1,811%.

Analysts and Technical Indicators Signal Potential

Crypto analyst Max suggests PEPE may soon enter a leg-up phase, observing patterns in the PEPE/BTC pair similar to those in early 2024. Technical indicators also hint at possible movement: PEPE’s Relative Strength Index (RSI) is over 70, signaling an overbought condition that could either trigger a continued rally due to FOMO or prompt a pullback. While TradingView data shows PEPE trading above both its 10-day EMA of $0.0000112 and its 30-day EMA of $0.0000101, revealing a 60% weekly gain, ranging from $0.00000819 to $0.000013.

Miles Deutscher shared his excitement about Pepe’s (PEPE) recent success, celebrating a year of tirelessly promoting the meme coin across various platforms

What’s Next for Memecoins?

With PEPE’s performance fueled by major exchange listings and whale activity, eyes are now on which meme coin could capture similar momentum next.

How High Can PEPE Go?

PEPE coin could reach a high of $0.000127396 by the end of 2024, depending on market conditions as per Coinpedia’s predictions

Should I buy PEPE Coin?

PEPE could see substantial growth in the near term due to factors like meme coin momentum, whale activity, and November’s historical crypto performance.

Can PEPE Coin reach $1

Based on current price projections and market conditions, it seems unlikely that PEPE coin will reach $1 in the near future.

Debashree Patra

Fun-loving and cheerful, a passionate blockchain and crypto writer who knows no boundary…connect if you share the same passion. With 10+ years of writing experience, I am a Crypto Journalist by chance, exploring, and learning all the dynamics of the sci-fi action-filled crypto world. Currently, focusing on cryptocurrency news and price data. With a passion for research and challenging my capabilities, I am slowly getting into the crypto arena to bring new insights every day.

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