Despite recent price drops, the PEPE meme coin continues to attract whale attention. A major transaction has sparked momentum in its price movement.
Whale Withdraws 492 Billion PEPE
A whale withdrew 492 billion PEPE worth $3.74 million from Binance. Additionally, the whale holds 612.30 billion Shiba Inu valued at $7.85 million, currently at a loss of $4.125 million. This accumulation signals potential long-term investments as whales capitalize on current price declines.
PEPE Price Updates
The token purchase sparked positive market changes: PEPE is up by 4.6% in the last hour and 7.2% in the last 24 hours. However, the coin faced challenges against market forces despite a brief 13.4% growth over two weeks. It later decreased by 4.0% over the last week.
Market Analysis and Future Prospects
PEPE's transaction volume declined by 7.78% in the past 24 hours, showing weak long-term investor confidence. Nevertheless, Open Interest rose by 8.47%, indicating optimism among derivatives traders. Without robust buying from long-term investors, any potential price hikes will be short-lived.
Major transactions continue to influence the PEPE market despite current challenges. Increased purchases might drive sustainable price growth amid changing investor sentiment.
