In recent weeks, several altcoins have shown massive gains, reaching double- and triple-digit percentages. One of them is the meme coin PEPE, which could be the next to surge according to whale activity.
Alts’ Rally
The current crypto environment indicates the arrival of 'altseason'. It all started after Donald Trump's victory in the US presidential elections, leading DOGE to reach new multi-year highs alongside Bitcoin. Following this, XRP, Tron, and Binance Coin also joined the rally. XRP surged by over 420% in a month, becoming the third-largest cryptocurrency by market cap. Both Tron and Binance Coin reached new all-time highs, particularly Tron, which increased by more than 70%.
Is PEPE the Next Big Thing?
The third-largest meme coin PEPE also soared in value after Trump's win, reaching a new all-time high on November 14. However, it has since retraced to sit 15% below its peak. Some large investors, or whales, have shown renewed interest in PEPE, which may suggest a potential further rally. Data from Lookonchain indicates that a whale accumulated and withdrew about $7 million worth of PEPE in the past 20 days.
While Bitcoin remains stable, certain altcoins continue to experience strong rallies with increasing whale activity. PEPE might be next in line as interest in it begins to return.
