Pepe coin surprised everyone by reaching a market value of $ 1.5 billion. In contrast, it took four years for Dogecoin to reach a 10-digit figure. Meme coin reached an all-time high of $ 0.00000431 when it was listed on major exchanges such as Bybit, Gemini and Binance. Currently, the frog-themed crypto is trading 75.39% below this point.

Whales are accumulating Pepe Coins

Memecoin #pepe seems to be gaining attention once again due to exaggerated advertising on X (previously known as Twitter) and other social media. Recently, a whale spent a huge amount of 1 million dollars and obtained 807 billion PEPE tokens. This may be the reason for the recent increase in the price of PEPE.

But while many whales accumulate digital assets, some also get rid of it. On August 7, a large conglomerate sold 2.26 trillion pepe tokens. This was the equivalent of $2.5 million. This may be the reason for the 3.48% drop on the same day. The actions of whales often create fluctuations in the market, increasing the short-term trading risk.

Memecoin PEPE Is Trying To Make A Strong Comeback

In the midst of the huge whale participation in Memecoin, LunarCRUSH recently provided some important information. There has been a significant increase in the flow of new capital to the PEPE cryptocurrency, and interest in social media has increased. This suggests that memecoin may be preparing for a comeback due to its vibrant community.

Pepe con was launched as an ERC-20 token with a maximum supply of 420,690,000,000 tokens. 93.1% of the total supply was added to the liquidity pool, and the remaining 6.9% was allocated to a multi-signature wallet for future use. The developers of the project stated on their website that Pepe has no intrinsic value and buyers should not expect to receive any financial benefits from it.

PEPE Coin Price Forecast Avoids Bearish Outlook

The price chart of the PEPE cryptocurrency shows that the price has been matching the support level of $ 0.00000106 since May 2023. In the past two months, most altcoins have experienced horizontal price movements, as BTC prices have been stuck in a narrow December. However, memecoins like Pepe are not very connected to Bitcoin's price movements and have a mind of their own.

In my opinion, Pepe coin will continue to rise as long as the price forecast remains above the $ 0.00000106 level. The price fell below this level during last week's crypto crash, but has recorded a 25% recovery. If this support level continues, I expect the bullish momentum to increase in the coming days. #crypto2023 #Binance