PEPE Coin, the frog-themed meme coin, has seen massive whale accumulation in the past 24 hours, sparking speculation that a price rally could be on the horizon. Despite recent severe price dips, two major PEPE whales have made significant moves, boosting optimism among traders.
According to Spot On Chain data, whale wallets Ox8f5 and Oxb1a have collectively accumulated over 480 billion PEPE coins. Whale Ox8f5 withdrew around $5 million worth of PEPE from Binance, while Oxb1a spent 3.72 million USDC to purchase the tokens. Interestingly, Ox8f5 has incurred a loss of nearly $1.45 million on previous PEPE holdings, suggesting a high-risk, high-reward strategy.
Whales are accumulating $PEPE!
— Spot On Chain (@spotonchain) January 13, 2025
1/ New whale “0x8f5” withdrew 280B $PEPE ($5M) from #Binance 4 hours ago. Additionally, the whale accumulated 47.4M $JASMY ($1.54M) a day ago.
2/ Whale “0xb1a” spent 3.72M $USDC to buy 200.4B $PEPE ~30 mins ago. However, this whale used to lose… pic.twitter.com/aTyZPl8Qqp
The influx of whale activity comes just days after a significant sell-off, in which a PEPE whale dumped 85 billion coins valued at approximately 1.51 million USDC. This earlier market dump fueled fears of more sell-offs, but the recent whale buying spree suggests that these large holders see potential in the token’s future despite its current dip.
Currently, PEPE Coin is down 3.59% in the last 24 hours, trading at $0.00001724. The token has also experienced a sharp decline of 17.93% over the past week and 28.97% in the last month. However, trading volume has risen by 16.53%, indicating that market interest remains relatively high. Additionally, open interest has seen a slight increase of 0.41%, signaling some level of market participation.
Despite the bearish sentiment, with an FGI score of 62 and volatility at 10.13%, there is growing optimism that PEPE Coin could soon experience a rebound. The accumulation by whales at these price levels hints that they might be positioning themselves for a future price surge, especially if broader altcoin market conditions improve.
Crypto market analysis suggests that while PEPE’s path remains uncertain, whale activity could play a pivotal role in triggering a potential rally. As always, traders are advised to stay alert to the volatile nature of the market, where prices can shift rapidly based on multiple factors.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: PEPE Coin Price Stability: Will a Breakout Above $0.00002000 Spark the Next Rally?
About The Author
