Guess Who’s Back? PEPE Pumps 55% Following Whale’s Massive Purchase

PEPE has been seeing enormous growth in the past several days.

Pepe sitting happy in Beluga whales bubble.
Created by Kornelija Poderskytė from DailyCoin
  • 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.

According to data from CoinGecko, PEPE is up by 55% in the past 24 hours. It’s currently trading at $0.00000163.

PEPE price action. Source: CoinGecko.
PEPE price action. Source: CoinGecko.

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

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.

Author
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.