pepe Coin Massive Futures Buying Shows PEPE Price Rise Is Imminent
Pepe Coin, the leading frog-themed meme coin price It gained significant momentum today, as evidenced by the more than 14% increase in PEPE. Especially, swell Its price is rising as a result of increasing interest from large owners, also known as whales. Additionally, recent derivatives data shows investors are turning their attention to Pepe Futures. investors’ confidence is increasing towards crypto.
Whale Heavily Accumulated Pepe Coin
In recent developments, Spot On Chain, an on-chain transaction tracking platform, has shed light on significant whale activity surrounding meme coin PEPE. According to the latest report, whales are actively accumulating PEPE Coin, signaling a significant shift in market sentiment.
Spot On Chain’s findings reveal that a prominent whale identified as 0x546 has significantly withdrawn PEPE tokens. Whale withdrew a staggering 331.3 billion PEPE tokens from Binance, worth approximately $2.24. million, at a rate of $0.00000675 per token.
Source: Point in the Chain, X
Meanwhile, What makes this transaction particularly noteworthy? Connection between whale 0x546 and another Smart trader 0x1c6. Appeared that both organizations share the same binance deposit address.
Smart trader 0x1c6 had previously sold all of his UNI holdings before a significant price drop on April 10, 2024, making an estimated profit of $6.99 million, equivalent to a remarkable return on investment of 70.7%.
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A Closer Look at the Latest Developments
The joint activity of Whale 0x546 and Smart trader 0x1c6 resulted in the withdrawal of 660.7 billion PEPE tokens worth $4.57 million from both Binance and MEXC exchanges. These transactions averaged approximately $0.00000692 per token over the last three days.
Meanwhile, this increase in whale activity indicates increased interest in PEPE among high-volume traders. The coordinated efforts of these organizations to accumulate significant amounts of PEPE tokens indicate a bullish outlook on the coin’s prospects.
as whales to continue While they assert their influence in the cryptocurrency market, they also make strategic maneuvers. key.key Indicators for discerning investors. The accumulation of PEPE tokens by leading entities such as Whale 0x546 and Smart Trader 0x1c6 could signal an impending upward trend in the value of the meme coin, leading to further speculation and interest among investors.
On the other hand, CoinGlass data showed that Pepe Futures Open Interest increased by 13.89% to $66.94 million. The increase reflects investors’ growing confidence in the future of the meme coin.
Additionally, the Pepe Coin price increased by 14.16% and changed hands at $0.000006953 at the time of writing. Simultaneously, trade volume increased by 10.7% to $1.07 billion. Meanwhile, the frog-themed meme coin reached a high of $0.000007149 and a low of $0.000005989 in the last 24 hours.
Pepe Coin Price
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A seasoned professional with 3 years of experience in the financial market, Rupam has honed his skills as a meticulous research analyst and insightful journalist. She enjoys exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond traditional boundaries. His contributions include breaking news, examining AI-related developments, providing real-time crypto market updates, and providing insightful economic news. Rupam’s journey is marked by his passion to demystify the intricacies of finance and deliver impactful stories that will resonate with diverse audiences.
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