Chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Pepe (PEPE) has recently grabbed the headlines, having hit a new all-time high (ATH) this week. The meme coin has also drawn the attention of crypto whales who have accumulated the crypto token lately. Whales accumulating the meme coin will suggest that now might be a good time to buy PEPE, but that might not be the case.\u00a0 Crypto Whales Buy 720 Billion PEPE Tokens On-chain analytics platform Lookonchain recently drew the crypto community\u2019s attention to a whale who purchased 520 billion PEPE from the crypto exchange Binance. This move might, however, have been motivated by the fear of missing out (FOMO), as Lookonchain noted that this trader hasn\u2019t always made the smartest investment moves, having lost $6.1 million so far.\u00a0 Related Reading: Bitcoin Long-Term Holders Buy The Blood, Snatch Up 70,000 BTC Meanwhile, on-chain data shows another whale who bought over 200 billion PEPE tokens through the trading firm Cumberland. Irrespective of their intention, crypto whales accumulating a crypto token usually paints a bullish outlook for the coin in question. Based on this, crypto investors will usually assume that this is an excellent time to buy the meme coin in expectation of further price surges.\u00a0 However, this might not be a good time to buy, as data from IntoTheBlock suggests that a price dump may be imminent for PEPE before it makes another move to the upside. The market intelligence platform revealed that 100% of PEPE holders were in profit thanks to the meme coin hitting a new ATH. Given such development, many of these holders are expected to book profits from their PEPE investment, leading to a wave of sell-offs that could negatively impact the meme coin\u2019s price. Therefore, those looking to invest in PEPE right now may be better off waiting for PEPE to bottom out from this selling pressure before purchasing the meme coin.\u00a0 Still Has Enough Bullish Momentum To Go Crypto analyst and trader Rachid Crypto recently highlighted several factors that suggest that PEPE has yet to reach its peak. The analyst noted that the \u201cmega meme cycle\u201d and altcoin season are yet to begin. These are events that could still spark a further rally in the meme coin\u2019s price.\u00a0 Related Reading: How High Can The XRP Price Go? Crypto Analyst Unveils 6-Month Prediction Furthermore, PEPE is yet to be listed on major crypto trading platforms like Coinbase and Robinhood. That means there is still a lot of liquidity that could flow into the meme coin\u2019s ecosystem. PEPE\u2019s price will likely enjoy an upward trend whenever these trading platforms decide to list the meme coin.\u00a0 Meanwhile, Rachid Crypto also stated that Ethereum will surpass its ATH, meaning that PEPE\u2019s price will benefit from ETH\u2019s run when this happens. PEPE\u2019s price is known to have some correlation with Ethereum\u2019s and will most likely enjoy a significant rally as Ethereum\u2019s price picks up.\u00a0 At the time of writing, PEPE is trading at around $0.00001056, down over 5% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":608429,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[84471,89673,83767,89674,88145,88163,89512,88215,88190,88188],"class_list":["post-608401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-meme-coin","tag-meme-coin-news","tag-meme-coins","tag-meme-coins-news","tag-pepe","tag-pepe-coin","tag-pepe-news","tag-pepe-price","tag-pepeusd","tag-pepeusdt"],"acf":[],"yoast_head":"\n
PEPE Whales Go On Massive 720B Shopping Spree Amid Campaign For New ATHs, Is It Time To Get In?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n