PEPE Rips 69% to Hit New All-Time as Whales Buy Millions

PEPE is now the 75th largest cryptocurrency.

Pepe meme character surfing on a giant fish in a silver muscle suit. Galaxy and stars surround him and he is holding a fish.
Created by Kornelija Poderskytė from DailyCoin
  • PEPE is up 69% on the day and has just hit a new all-time high.
  • The token is now the 75th largest cryptocurrency.
  • A whale sold almost all of its holdings to buy PEPE.

The meme coin season looks to just getting started. Multiple meme coins are hitting all-time highs amid a flurry of investors trying to capitalize on the hype.

PEPE, the most popular new meme coin, has just hit a new all-time high.

PEPE Rips 69% and Hits New All-Time High

The newly-created PEPE meme coin is continuing to break new all-time highs. The token has ripped more than 69% on the day and has just hit a new all-time high of $0.00000164.

According to data from CoinGecko, PEPE is now the 75th largest cryptocurrency. It has a market capitalization of almost $700 million, a stunning increase of around 650% in the past seven days.

PEPE price chart (PEPE) from CoinGecko.
PEPE chart. Source: CoinGecko.

And it seems like PEPE isn’t done yet, thanks to whales buying millions of the tokens. For example, blockchain analytics company Lookonchain has identified a wallet that has exchanged almost all of its holdings for PEPE.

In particular, the wallet exchanged 20.62 WBTC ($590K), 17B CULT ($90K), 44,194 UNI ($235K), and 19.96 ETH ($37K) for 1.72 trillion PEPE. The 1.72 trillion PEPE is now worth $2.8 million.

Other meme coins are also rallying. For example, WOJAK is up 80% on the day and 1,448% in the past two weeks. However, some meme coins haven’t done that well.

WSB, a token launched by the Reddit Wall Street Bets community, crashed by 78% on Thursday after the founder of the subreddit allegedly pulled the rug on the community.

On the Flipside

  • Meme coins are extremely dangerous investments. They usually have a few large holders who can dump on the smaller investors at any time.

Why You Should Care

The PEPE rally shows that people are still eager to invest in meme coins, even during a crypto bear market and uncertain global economic conditions. However, potential investors should always do their due diligence before investing in meme coins.

Read more about PEPE and DOGE union:

LimeWire Unites PEPE & DOGE, Generates $14M in Token Sale

Read more about a TikTok star joining a new creator platform on Polygon:

Major TikTok Star Joins New Creator Platform on Polygon

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Arturas Skur

Arturas Skur is a cryptocurrency news reporter at DailyCoin who covers Web 3.0 domains, DeFi, and Ethereum Layer-2s. With over five years of experience in journalism and public relations, Arturas brings his critical thinking and analytical abilities to deliver insightful news stories. In his free time, he enjoys hiking, playing with his dog, and reading.