Three cryptocurrency wallets made significant purchases of PEPE tokens, which may signal a potential price rise. At the same time, the rise in the token's price accompanies increases in Bitcoin and Ethereum prices.
Major PEPE Token Buys
Over the past 11 hours, three cryptocurrency wallets acquired 689.79 billion PEPE tokens valued at approximately $4.3 million via the Tornado Cash platform. The largest transaction was executed by the 0x7A7D wallet spending $2.72 million, securing 437.7 billion tokens. The other two wallets, 0x9212 and 0x7779, spent $1 million and $574,000 respectively, to acquire the remaining tokens.
Current PEPE Price Trends
As a result of these purchases, the price of PEPE increased by 13.8%, reaching $0.056584. This rise coincided with price increases in both Bitcoin and Ethereum, reflecting positive market trends. Over the last 24 hours, the PEPE token trading range was $0.056427 to $0.05678, with an increase in trading volume.
Future of PEPE: Outlook and Predictions
The large token purchases indicate investor confidence in its potential despite market volatility. According to Coincodex, PEPE's price may reach $0.058608 in the next five days, which would represent a 30.04% increase from the current value. However, connections with Tornado Cash may draw regulatory attention due to privacy-focused transaction capabilities.
The recent large-scale purchases of PEPE tokens create market interest; however, uncertainty remains as the market is volatile and transactions via privacy-focused platforms may attract regulatory scrutiny.
