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.

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.

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.

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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