PEPE Price: Investors Accumulate 650 Bln Pepe Coin, More Steam Left?

Pepe Coin Accumulations Emerge as a 'Hot Trend' in the Crypto Realm

Amidst the remarkable bull run experienced by the frog-themed meme token this year, Pepe coin accumulations have emerged as an ongoing trend. On May 11, data from an analytics platform revealed that a staggering 650 billion PEPE was purchased by crypto market investors, igniting a flurry of optimism on the meme cryptocurrency's future price movements.

Pepe coin surged from a slumping low of $0.0000009 to a peak of $0.0000099 in March this year, defying market expectations and birthing usual sentiments that the token might be due for a correction. However, PEPE accumulations in recent days, either by whales or investors, have been evaluated to be in trillions, adding a layer of intrigue to the token's price action ahead.

PEPE Accumulations: The 'Hot Trend' of the Crypto Realm

According to data streamlined by LookOnChain, investors bought 649.16 billion PEPE in the past 24 hours, with four unknown addresses primarily scooping up massive amounts of Pepe coin from exchanges. The address 0xa145 withdrew 350 billion PEPE, worth $3,44 million, from Binance, one of the most renowned CEXs. It's worth noting that this address is good at swing trading and has been reported to have a profit of $2.66 million with the frog-themed meme coin.

Meanwhile, the address 0xa4Fd bought 123.66 billion PEPE with 1.09 million USDC. Simultaneously, the addresses 0x895f and 0x24E3 purchased 101 billion and 74.5 billion PEPE, respectively.