Ethereum-based cryptocurrency PEPE has demonstrated significant growth amid recent large purchases, drawing investor interest.
Whale Purchases Propel Market Activity
Blockchain analysis platform Lookonchain uncovered a significant whale purchase that has driven the recent increase in PEPE’s price. A newly created wallet acquired 1.52 trillion PEPE tokens from the Kraken exchange, valued at approximately $16 million. This transaction is noted as one of the largest individual purchases in PEPE’s history. Such transactions by large investors are perceived as positive signals by smaller investors.
Impact of Altcoin Season and Technical Strength
The rise in PEPE coincides with the altcoin season, according to CoinMarketCap’s Altcoin Season Index. The index increased from 66% to 76% and has currently stabilized at 70%. During this period, Bitcoin consolidated around $116,000, attracting risk-tolerant investors into meme coins. PEPE capitalized on advantages such as a loyal community, a burning mechanism that reduces circulating supply, and strong technical indicators. It has successfully surpassed resistance levels, confirming its upward trend technically. The increase in trading volume and growing interest on social media bolster this uptrend.
Future of PEPE Amid Volatility
Recently, PEPE has become one of the most talked-about assets on social media platforms. Experts state, “PEPE is rising not only due to technical and market trends but also due to its strong community influence,” particularly noting the rapid growth potential of such assets with high volatility during altcoin seasons. However, they also emphasize that this growth could be balanced by profit-taking in the short term.
The PEPE cryptocurrency has shown robust results amid significant market changes and increased whale purchases, indicating broader interest in meme coins under the current conditions.
