PEPE’s Q4 starts on a promising note, will its gains continue?

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PEPE’s Q4 starts on a promising note, will its gains continue?

2min Read

Frog-themed PEPE has been moving erratically in recent days, doing no harm to its reputation as a memecoin.

Posted: October 1, 2023



Aniket Verma

Journalist



After a rally on 28 September, PEPE retraced by more than 3% the next day.

It appeared that a broader market accumulation was underway.

There’s hardly been a single dull chapter in the brief history of the frog-themed Pepe [PEPE]. The memecoin’s fickle price swings, which can make or break a portfolio, have piqued the interest of many cryptocurrency watchers.

Is your portfolio green? Check out the PEPE Profit Calculator

PEPE moves unpredictably

On 28 September, the memecoin jumped more than 12% in value, as per data from CoinMarketCap. Seeing the trajectory, the bulls might have geared for further gains. But unfortunately, this was not the case
A day later, on 29 September, PEPE retraced more than 3%. While this might be attributed to profit-seeking traders, the fluctuations were an accurate reflection of the memecoin’s volatile behavior.

Are whales on to something?

The third-largest memecoin by market cap saw sustained trading activity in recent days. The market moves of a specific address garnered considerable interest.

According to Lookonchain, the traders have been buying and selling PEPE tokens on a regular basis in order to maximize gains.

After having made a whopping $2.34 million from their previous trades, the address purchased PEPE worth $645,000 in a transaction on 29 September. Needless to say, the trader was bullish on PEPE’s near-term prospects

#pepe #DeFiChallenge #cryptonews