Massive accumulation of PEPE tokens by 'whales' reaches 9 trillion units - Could this accumulation fuel a potential price surge to $0.00001?
Pepe Whales Crank Up Accumulation, Bagging 9 Trillion Tokens!
- Hey there, check this out!
- A couple of zealous Pepe [Pepe] whales decided to stir things up, hoarding a whopping 9 trillion tokens in the past 24 hours!
- And here's a fun fact, one of these whales grabbed 1.5 trillion PEPE worth around $13.3 million according to Lookonchain.
Whenever Pepe's [PEPE] price seemed to be wobbling, these playful whales took the reins for a potential pump.
For example, a PEPE whale with assets valued at $147 million plucked 1.5 trillion PEPE tokens worth approximately $13.3 million from toss according to IntoTheBlock.
Whales Pump up the Jam, Anticipating Price Surge
This wasn't a one-off event, as this move followed the wider trend among PEPE whales.
During the same span, whales shelled out a chunky $9 trillion for PEPE tokens, a significant increase from the previous day's $3.25 trillion.
This purchasing spree by whales reflects robust market confidence from high-end investors readying themselves to snap up tokens as memecoin prices remain subdued.
In addition, PEPE has now notched up six straight positive Large Holder Netflows - a promising on-chain pattern. Since the 24th of April, PEPE whales have acquired more tokens than they've dumped. At press time, the Netflow totaled 285.9 billion tokens, demonstrating strong buying activity from large holders.
Source: IntoTheBlock
When whales get their greedy paws on accumulation, it signals confidence in the market as they position themselves before prices spike. This reflects bullish perspectives, with whales forecasting a price surge. Interestingly, even retail traders seem to back the token.
PEPE's Spot Netflow has lingered in the negatives over the past five days, now at -$218k. A negative Spot Netflow implies that tokens originating from exchanges and leaving traders' hands exceed the incoming tokens. Typically, increased buying pressure precedes a boost in prices. If this trend continues, PEPE could bounce back, potentially reaching the $0.0000098 mark and aiming for $0.000010.
On the other hand, if the seesaw battle between sellers drags on, PEPE will continue to hover within the same range. Protracted consolidation may drag PEPE down to $0.0000084 as whales grow increasingly frustrated.
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The crypto market has seen a surge in activity, as Pepe [PEPE] whales have cranked up their accumulation, purchasing a staggering 9 trillion tokens in the past 24 hours.One of these whales, valued at $147 million, acquired 1.5 trillion PEPE tokens, worth approximately $13.3 million, according to IntoTheBlock.
These moves by Pepe whales are not isolated incidents, as they've been following a broader trend within the PEPE community.
During the same period, whales shelled out $9 trillion for PEPE tokens, a significant increase from the previous day's $3.25 trillion.
This bullish behavior from high-end investors suggests a strong market confidence, as they prepare to snap up tokens amidst subdued memecoin prices.
In addition, PEPE has recently notched up six straight positive Large Holder Netflows, with a total of 285.9 billion tokens demonstrating strong buying activity from large holders.
Such accumulation by whales can signal confidence in the market, as they position themselves in anticipation of price surges.
However, if the seesaw battle between buyers and sellers drags on, PEPE may continue to hover within the same range, potentially reaching a low of $0.0000084.
Meanwhile, investors might consider diversifying their portfolios, looking into other cryptocurrencies like XRP, Ethereum, and potentially benefitting from the technology and finance revolution that investing in crypto provides.
