Why Are Bulls Accumulating Pepe Coin? The 2024 Trend You Need to Know
The post Why Are Bulls Accumulating Pepe Coin? The 2024 Trend You Need to Know appeared on BitcoinEthereumNews.com.
So you’ve seen that Pepe Coin’s popularity has been growing since early 2024, and especially since the start of November (or if you haven’t, trust us, it has), but what’s driving this trend? Bulls have been actively accumulating the coin, with significant transactions by large holders, known as whales, making notable purchases of billions of tokens valued at millions of dollars. This accumulation activity has coincided with a remarkable price surge of over 34,000% since its launch in April 2023. Pepe has even made it to the top 20 coins by coin market cap, sitting at number 20 at the time of writing. Let’s explore what’s behind this investor confidence and whether it will sustain its growth momentum in the highly speculative meme coin market. Key highlights: Large investors have been actively accumulating PEPE tokens since early 2024, with significant purchases indicating bullish sentiment. Notable transactions include purchases of 105.33 billion tokens for $2 million and 835.6 billion tokens for $7.94 million, showing high investor confidence. Daily trading volumes have been consistently ranging from $2 to $3 billion over the past weeks. Continuous observation of investor behavior and price trends is the best way to stay safe in the risky and highly volatile crypto market. What is Pepe Coin? Pepe Coin is an Ethereum-based, deflationary meme cryptocurrency inspired by the “Pepe the Frog” internet meme and is widely regarded as one of the best meme coins. Since its launch in April 2023, it has seen remarkable growth, surging over 34,000% in price from $0.000000065 to approximately $0.00002. This significant price increase reflects the coin’s potential for high returns, with a year-to-date growth of around 1,750%. As the third-largest meme coin by market cap (behind only Dogecoin and Shiba Inu), Pepe Coin boasts substantial market interest and activity, with a daily…
Filed under: News - @ November 28, 2024 11:22 am