The post Whales Boost PEPE Holdings by $1.14 Billion, Indicating Potential Institutional Interest Amid Crypto Market Optimism appeared on BitcoinEthereumNews.com.

Whale investors are making waves as they boost their holdings in the meme coin PEPE, showcasing a notable uptick in institutional interest. The surge in PEPE’s market capitalization comes as Bitcoin rallies past the $100,000 mark, reflecting a broader revitalization in the crypto market. According to crypto analyst Ali Martinez, “whales increased their PEPE holdings by $1.14 billion over the weekend,” a move often indicative of impending price escalations. PEPE’s market cap surpasses $11.37 billion as whale activity surges, while Bitcoin crosses $100,000, highlighting growing institutional demand in the crypto space. PEPE Reaches New Market Cap Heights Amid Bitcoin Surge The meme coin Pepe (PEPE) has successfully transcended the $11.37 billion market cap threshold, outpacing leading cryptocurrencies like Uniswap (UNI) and Litecoin (LTC). This growth aligns with a broader market upswing, particularly marked by Bitcoin’s (BTC) leap past the $100,000 landmark, instilling optimism across the crypto ecosystem. PEPE is not only seeing a robust increase in value but also in visibility, as it currently enjoys a significant 4.5% surge within a 24-hour period, reaching an all-time high price of $0.00002708 according to CoinGecko. The asset ranks as the 23rd overall by market capitalization, underscoring its growing prominence. Meme Coin Market Dynamics: Factors Driving PEPE’s Rise The phenomenal rise of meme coins this year can largely be attributed to innovative platforms that facilitate token creation, such as the Solana-based launchpad Pump.fun. This platform provides users with the ability to create tokens for free, thereby driving interest and participation in the meme coin landscape. The near 150% increase in PEPE’s value over the past 30 days, paired with an astounding 1,900% year-to-date gain, highlights a genuine shift in investor sentiment towards meme-based assets. Insights from analysts indicate a combination of increased whale activity and the token’s accessibility through services like MoonPay contribute…

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Filed under: News - @ December 9, 2024 5:27 am