Pepe Coin (PEPE) is poised to undergo a price trend change after completing its consolidation phase. Ranked as the 25th largest crypto, PEPE hit a weekly low of US$0.00001102 on Thursday (25/7/2024). This low point marks a critical phase in PEPE's market cycle, drawing the attention of investors and analysts.

Price Increase and Whale Activity in Pepe Coin

Daily Coin reports that since reaching this low point, the memecoin has surged by 4 percent, demonstrating resilience and potential for recovery. However, suspicious large transfers observed by LookOnChain have made holders cautious.

A prominent Ethereum whale, qualifying as a crypto whale, decided to sell 170.2 billion PEPE tokens worth US$1.97 million Circle USD (USDC). This significant transaction has sparked discussions about the future direction of PEPE's price.

This whale's move resulted in a substantial profit of US$1.77 million, translating into an impressive return on investment (ROI) of 886 percent.

Conversely, the Ethereum whale spent US$200,000 in USDC stablecoin to purchase 170.2 billion PEPE tokens on October 26, 2023, holding them until June 25, 2024. This strategic hodl action and subsequent sales highlight the investment profitability potential in PEPE.

Are Other Large Players Following Suit?

Sell pressure caused by the largest crypto holders liquidating their assets is a common occurrence in the highly fluctuating altcoin market.

However, PEPE's case remains somewhat unique as this frog-themed memecoin boasts an incredibly high trading volume. This factor sets PEPE apart from many other altcoins and memecoins, underscoring its potential for significant market movements.

PEPE emerges as the 8th largest crypto by trading volume, with US$1.193 billion in the last 24 hours.

This substantial trading volume places PEPE in the same category as top-tier altcoins like Binance Coin (BNB) and XRP, while no other memecoin tends to surpass the US$1 billion trading volume on a regular day.

This high trading activity reflects strong interest and confidence in PEPE from the broader crypto community.

Large Transactions and Sell Pressure

Based on buy and sell orders placed in the last 24 hours, PEPE seems not to be exposed to specific sell pressure.

Large transactions for Pepe Coin have significantly increased since July 23, 2024, indicating activity from other ETH whales. This uptick in large transactions could serve as a signal for market movement and further price changes for PEPE in the near future.

As of the time of writing this article, PEPE is ranked 25th and trading around US$0.00001188, according to CoinGecko.

Despite a 5.8 percent decrease in a month, this memecoin has still surged by 845 percent from a year ago. This significant annual increase showcases the remarkable growth of the memecoin and its potential for future gains.