Surge in PEPE Transactions Fuels Price Speculation

Pepe coin

Looonchain’s data has shown that about 649 billion PEPE transactions were executed in the past 24 hours.

Pepe token (PEPE) has caught the attention of crypto investors once again, as recent whale data revealed a significant accumulation of the token. According to a post shared on X by the on-chain analytics platform Lookonchain, 649 billion PEPE transactions were executed within 24 hours.

Lookonchain’s data shows that two whales, labeled “0xa145” and “0x895f,” withdrew 451 billion PEPE tokens worth $4.32 million from the Binance crypto exchange within a three-hour time interval. In addition, two crypto wallets, “0xa4Fd” and “0x24E3,” purchased 123.66 billion and 74.5 billion PEPE tokens, respectively, spending a total of $1.75 million.

 

PEPE Accumulation Stirs Optimism

On May 9, a new wallet address, 0x4f0178, accumulated 357.34 billion PEPE tokens, valued at $2.9 million, according to Lookonchain. This sudden accumulation has sparked speculation about the confidence of this whale in the asset’s future, even though the price has continued to rise in recent days.

On May 6, CryptocurrenciesToWatch (CTW) revealed that a crypto trader made a profit of over $900,000 on PEPE. “The trader’s investment in PEPE at this price shows confidence in its potential growth. This move has gained attention in the crypto market and reflects the trend of increased interest in alternative cryptocurrencies beyond Bitcoin and Ethereum,” said CTW.

Furthermore, on May 3, a well-known cryptocurrency transaction tracker called WhaleAlert reported a significant transfer of Pepe tokens between wallets. As per the report, a whale moved over 4 trillion Pepe tokens from Paribu, a Turkey-based exchange, to an unknown wallet.

Over the past 24 hours, the price of PEPE has been fluctuating between $0.000008304 and $0.000008548, and as of now, it rests at $0.000008708, representing a boost of 0.92%, according to the latest data from CoinMarketCap. Even though the token’s value has seen some ups and downs in the past day, investors are still optimistic thanks to promising technical signs.