The post Pepe (PEPE) is back in accumulation mode, while becoming the most-traded meme asset appeared on BitcoinEthereumNews.com.

Buyers are dominant for Pepe (PEPE), turning it into the most traded meme asset. Pepe (PEPE) is also back in accumulation mode, with whales deliberately building significant holdings.  Pepe (PEPE) is a meme token encouraging holding and ‘eating zeros’. In the past weeks, PEPE is back in accumulation mode, with signs of inflows to old and known whale wallets. PEPE also remains a tradable token, which has gone through several short-term booms, allowing traders to buy back new positions in preparation for the next rally.  Also Read: 5 Meme Coin Presales That Could Net 100x Gains Additionally, a so far unidentified private wallet became the biggest PEPE buyer for the past day. The tokens were acquired on the spot market, originating from the EU-based Bitpanda market. Several smaller whales also bought PEPE for another $17M in total. Overall, 612K buyers increased their PEPE holdings in the past week, while sellers were around 420K. Additional data shows recent PEPE buying is a trend, bringing a mass inflow of whales with large buying orders. The recent buying is raising hopes that PEPE will soon flip Shiba Inu (SHIB). The asset surpassed the recent hype for DogWifHat (WIF). Additional buyers may flow into PEPE if it moves to a lower range, or ‘adds a zero’, until the price recovers for another 10X. The accumulation and signs of buying is working against the fears that PEPE may soon face selling pressure. Big whale buyers from OKX have appeared in the past two quarters, and there are warnings of PEPE being prepared to sell at the right price.  Whales continue to accumulate $Pepe This wallet accumulated 81.4 billion $Pepe yesterday, equivalent to 1 million USD. The wallet accumulated this $Pepe via DEX by swapping $1 million $USDC into $Pepe as would be shown in the…

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Filed under: News - @ July 25, 2024 2:24 pm