- PEPE Coin Surges Over 80% in a Week Amid Whale Accumulation
- Active Addresses Quadruple as PEPE Coin Hits New All-Time Highs
The PEPE price continues to hit fresh all-time highs amid high accumulation by whales and the surge in active addresses by 4x in just one week.
Pepe Price Prediction: Will Bullish Momentum Drive PEPE to $0.00002?
The rally in the world’s third-largest meme coin, PEPE, shows no signs of slowing down. Over the past 24 hours, the PEPE Coin price surged another 12%, pushing its weekly gains beyond 80%. As of press time, PEPE is trading at $0.0000166, with its market cap soaring past $7 billion—a new milestone for this meme-based cryptocurrency. This latest rally has drawn massive investor interest, as daily trading volumes have skyrocketed past $2.56 billion.
PEPE Coin Hits New All-Time High
PEPE has firmly established itself as the third-largest meme coin, following Dogecoin and Shiba Inu. Not only has the token outperformed its rivals, but it has also surpassed the broader cryptocurrency market, delivering a 135% gain over the past month. Year-to-date, the Ethereum-based cryptocurrency has provided a staggering 12x return to its holders.
This remarkable performance has caught the attention of wealthy investors. According to the on-chain tracking platform Spot On Chain, a whale recently withdrew 1.32 trillion coin tokens from Binance within the last five days. At the current price, this whale’s coin portfolio has already generated a 21% return.
What’s Behind the Price Rally?
PEPE’s recent stellar performance is closely aligned with the optimistic sentiment in the cryptocurrency market following the approval of spot Ethereum ETFs. This regulatory green light has infused new confidence into the market, propelling meme coins like coins to new heights.
The bullish momentum for the coin is evident as buyers continue to resist efforts to drive the price down. Strong support has been established around the $0.00001380 level, which has been tested twice. Furthermore, the coin is forming higher lows and higher highs, signaling a robust uptrend. The price is also trading above the 50-day and 200-day simple moving averages (SMA), reinforcing the positive outlook.
PEPE appears poised for further gains, with on-chain analysis firm Santiment reporting a significant surge in active addresses holding PEPE. Between May 21 and May 22, the number of active addresses skyrocketed from 3,600 to 12,000. A similar increase in PEPE-holding wallets was observed in mid-May, suggesting sustained investor interest and confidence.
As coin continues its upward trajectory, market watchers are keenly observing whether this bullish momentum will drive the meme coin to the coveted $0.00002 mark. For now, the coin remains one of the hottest assets in the cryptocurrency market, with its explosive growth capturing the attention of investors worldwide.
