Pepe whale accumulation increases, long-term holders decline

Pepe Token Sees Notable Shift in Whale and Holder Activity

Pepe, a token inspired by the iconic "Pepe the Frog" meme, has experienced significant changes in whale activity and holder composition.

According to data from IntoTheBlock, there has been a notable shift in the net flows of large Pepe (PEPE) holders. On December 3rd, these holders moved from a net outflow of 534 billion PEPE to a net inflow of 580 billion.

Whale Accumulation and FOMO

This shift has triggered a potential fear of missing out (FOMO) among retail investors. An anonymous Pepe whale has accumulated and withdrawn over 337 billion PEPE tokens from Binance, the largest crypto exchange by trading volume, in the past 20 days. These tokens are now valued at approximately $7 million.

Decline in Mid-Term and Long-Term Holders

While whale activity has been increasing, the number of mid-term and long-term PEPE holders has declined over the past month. Addresses holding the token for over a year have decreased, and holders holding between one and 12 months have also seen a drop.

Surge in Short-Term Traders

However, PEPE traders who hold the token for less than a month have increased by 262% in the past 30 days, reaching 72,000 unique addresses.

Market Outlook

Pepe has been consolidating around $0.000020, with a market cap of $8.69 billion. Its 24-hour trading volume has declined by 1% to $3.48 billion. While PEPE's bullish momentum could continue, it could potentially face resistance from short-term traders unless more whale accumulation occurs. This makes the token a highly volatile investment.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.