Recent renewed interest in meme coins has drawn attention back to PEPE, which has increased by 53% over the last week.
Overall Market Growth
According to analytics firm Santiment, the cryptocurrency market is experiencing strong bullish momentum. Some sectors, including meme coins and liquid staking platforms, are showing double-digit percentage gains in market capitalization. The meme coin sector alone has risen by 18%, with PEPE as one of the standout performers.
Whale Activity
On May 8, Lookonchain reported that a crypto whale purchased 500 billion PEPE for $4.36 million, increasing the whale's total holdings to 2 trillion PEPE. On Friday, when PEPE's price surged, Whale Alert tracked a massive transfer of 7.14 trillion PEPE worth about $78.8 million between unknown wallets in a single transaction.
Current Price and PEPE Dynamics
PEPE has started to recover from lows of $0.00000759 on May 6, and the rally gained momentum as the price surged to $0.00001397 on Thursday, thereby removing a zero from the price. At press time, PEPE remained at $0.00001242, rising 0.21% in the previous 24 hours.
The meme coin PEPE is showcasing impressive growth and behaving actively amid overall optimism in the cryptocurrency market, which may signal potential future prospects.
