A new crypto whale, identified as 0x535, has made waves in the memecoin market by withdrawing an additional 150 billion PEPE tokens (worth $3.14 million) from KuCoin.
This marks the seventh transaction in the past eight hours, bringing the total PEPE accumulated by this whale to 309.6 billion tokens.
The purchases, completed at an average price of $0.00002082, are estimated to have cost $6.45 million. Aside from this significant acquisition, the whale’s only other activity has been paying 0.085 ETH ($284) in gas fees.
Big $PEPE accumulation!
Someone created a new wallet 13 hours ago and has since withdrawn 309.6B $PEPE ($6.45M) from #KuCoin at an average price of $0.00002082.
Follow @spotonchain and track the whale live at https://t.co/W6LBhGQdkj pic.twitter.com/0y2BRvcUIQ
— Spot On Chain (@spotonchain) November 22, 2024
PEPE Price on the Rise
PEPE has gained significant momentum in recent hours, with its price climbing 12.56% in the past 24 hours.
This upward trajectory aligns with broader market activity, as over $155 million worth of PEPE has flowed from centralized exchanges to onchain wallets this week. This represents the highest outflow among all Ethereum-based tokens.
Over $155M worth of $PEPE moved from CEXs to onchain wallets this week—the highest outflow for any Ethereum token.
Even after hitting ATH last week, onchain accumulation is still going strong.
It only means one thing:
Show's not over yet anon 🐸 pic.twitter.com/XjceOk0eGT
— Alphanomics 💧 (@Alphanomics_io) November 22, 2024
PEPE Breaks Consolidation Pattern
The memecoin recently broke through the upper limit of its consolidation pattern, signaling a potential 25% rally. With this breakout, PEPE has an opportunity to approach or even surpass its all-time high, despite having already hit a peak last week.
🚀 $PEPE Coin breaks through its consolidation pattern’s upper limit, signaling a potential 25% rally and a shot at a new all-time high!
🤔 Is the bull run just getting started?#PepeCoin #Crypto #Altcoins #PEPE #CryptoNews #BTChttps://t.co/hBQTRSfMju
— Crypto News (CoinGape) (@CoinGapeMedia) November 21, 2024
Onchain Accumulation Stays Strong
Even as PEPE approaches new heights, onchain accumulation shows no signs of slowing down. Whales and investors alike are betting on its continued upward trajectory, positioning PEPE as a dominant force in the memecoin market.
With strong whale activity and bullish technical indicators, PEPE appears poised for further growth. All eyes are on its next potential rally as it aims to solidify its place in the memecoin hall of fame.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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