Pepe coin price has continued on its rise, where it surged 50% within a day, whereas compared to the week before, it has surged by around 200%. So why has Pepe Coin has surged this much?

The fear & greed index has indicated an extreme in the crypto market, leading to increased performance of the crypto market, including Pepe Coin.

Pepe Coin Price Analysis

Pepe is a frog-themed meme coin that received its popularity because of its concept of rewarding users for trading in it. Currently, it is trading at $ 0.000003241 after a day hike of around 45% with a trading volume of $1,935,321,545. Pepe started taking this leap on 26 February and has continuously moved toward the upper value.

It is the same pattern Pepe Coin price showed last year in May, Soon after its launch. In May 2023, PEPE had its all-time-high value of $0.000004354 and soon fell to the ground. It wasn’t just a little hike because investors made huge profits during that and are still waiting to see a similar hike in its prices.

The On-Chain data has revealed that there’s an increase in the active wallet addresses of PEPE. As a result, the meme coin has spiked more than 200% in the last week. Not only this, a surge in whale transactions was noticed where PEPE worth $50K-$100K was moved.

Traders Made $2 Million In Profit

A renowned crypto analytics firm, Lookonchain, revealed that a notable amount of people have succeeded in taking advantage of this rally. During this, six wallets sold 1.98 trillion Pepe coins worth $4.3 Million with a total profit of $2 Million.

Out of these six wallets, one known as “0xa145” has deposited $1.4 Million worth of $PEPE to the Binance exchange. Within six hours, the person made an impressive profit of $515,000, a 97% gain.

All five wallets are suspected to be connected with the same person who has deposited $1.5 Trillion $PEPE worth around $3.3 million to Binance again. It resulted in a profit of 82%, and the person made $1.49 Million.

Conclusion

Pepe Coin price is fueled up and is reaching an all-time-high value. If it continues to move with the same momentum, the community will experience the new ATH. The recent market situations and increasing whale activity for meme coins have led to this surge in PEPE. Read more about trending topics like Top Reasons Why Bitcoin Price Will Hit $100k Soon.

The post Pepe Coin Price Surge: Traders Made $2 Million In Profits  appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am