Pepe Price: Whale Bags 357B PEPE Signaling Further Gains Ahead

Pepe Coin Accumulation Sparks Optimism Amidst Price Surge

Pepe Coin has resurfaced on the radar of crypto investors, with whale data revealing a significant accumulation despite the token's ongoing upward trajectory.

According to a post shared on Twitter by on-chain analytics platform Lookonchain, a staggering 357 billion PEPE was acquired from Binance, one of the world's leading cryptocurrency exchanges. This accumulation coincided with a nearly 3% price increase for the frog-themed meme token over the past 24 hours.

Coupled with roughly 16% weekly gains for PEPE, this accumulation has further fueled market optimism regarding a potential sustained rise in the meme coin's price in the long run.

Accumulation Details and Market Statistics

Lookonchain's insights indicate that 357.34 billion PEPE, valued at $2.9 million, was accumulated by a new wallet address (0x4f0178) on May 9th. This substantial accumulation by a fresh address has sparked speculation about the whale's confidence in the asset's future despite its recent price appreciation. The new wallet currently holds only PEPE, according to data from blockchain explorer Etherscan.

Moreover, a recent report by CoinGape Media highlighted the accumulation of 143 billion PEPE by smart money, adding to the token's positive sentiment in the broader crypto market. Another report revealed a staggering 4 trillion Pepe coin accumulation earlier this month.

Collectively, these on-chain data have ignited significant investor optimism surrounding PEPE's future price movements.