Large-scale $PEPE accumulation by whales has sparked renewed optimism in the market, with a noticeable drop in the token’s supply on exchanges.

This trend has fueled speculation of a potential price surge, drawing increased attention to the memecoin.

A prominent whale address recently closed a position in $PEPE, reportedly earning a staggering $7.058 million in profits with an astonishing return rate of 3,082%. This strategic move highlights the potential for significant gains in the memecoin market when timed correctly.

The address in question initially withdrew 375.6 billion $PEPE tokens from Gemini a year ago, securing them at a remarkably low price of $0.000000643 per token.

Over the past two hours, 356.1 billion of these tokens were transferred to the address **0x5B7…7FBdA** before being deposited onto Kraken. At the time of the recharge, $PEPE was priced at $0.00002046, reflecting a dramatic increase in value.

This accumulation and subsequent movement underscore the impact of whale activity on market sentiment. As supply on exchanges dwindles, many investors anticipate upward pressure on $PEPE’s price. However, the market remains highly speculative, with the potential for significant volatility.

For now, the optimism surrounding $PEPE is palpable, with whales demonstrating confidence in its prospects. Whether this momentum leads to sustained growth or a temporary rally remains to be seen, but the memecoin is certainly in the spotlight once again.

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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