- PEPE is experiencing a massive rally.
- The memecoin is one of the best-performing assets in the industry.
- One whale bought an enormous amount of PEPE.
The crypto market had been bleeding for a few weeks before the incredible rally that started on Wednesday.
Virtually all cryptocurrencies pumped to highs not seen since April, including the memecoin PEPE, which saw staggering inflows after a whale bought millions of tokens.
PEPE’s Dizzying Pump
PEPE is back on the most-watched cryptocurrency list. The frog-themed memecoin that stole the show a few months ago pumped massively during the current crypto bear market rally.
Sponsored
According to data from CoinGecko, PEPE is up by 55% in the past 24 hours. It’s currently trading at $0.00000163.
PEPE’s growth over the past week is even more staggering. PEPE is trading 90% higher than it did seven days ago. While virtually all cryptocurrencies have rallied, PEPE is the best-performing one in the top 100 list.
This might be because a whale purchased millions worth of PEPE.
Whale Purchases Millions Worth of Frog Tokens
PEPE is one of the most loved memecoins – and assets in general – by traders.
The current incredible PEPE growth can be attributed to a whale that bought millions worth of PEPE in the middle of the rally.
According to data from Lookonchian, a whale bought $4.7 million worth of PEPE across several trades. The whale made $11.47M on one trade.
However, the same whale lost $741,000 on another PEPE trade they made a few weeks ago.
PEPE is currently the 63rd-largest cryptocurrency in the industry. It has a market cap of $683 million.
On the Flipside
- As with all memecoins, the current rally will most likely be short-lived, especially knowing that interest rates worldwide are still high.
Why This Matters
The rally proved that people could make money on memecoins like PEPE, even in a bear market.
Read more about Paradigm’s new Ethereum client Reth:
Here’s Why Paradigm’s New Ethereum Node Is Special
Read more about Polygon’s zkEVM validium:
Polygon to Transition PoS Chain to zkEVM Validium: Here’s How It Works
