A recent transaction involving the third-largest meme coin by market cap, PEPE, has caught the eye of the crypto community. A wallet purchased an astonishing 1.238 trillion PEPE from Binance, totaling $10.4 million. The wallet then proceeded to withdraw the tokens in two separate transactions, indicating a significant interest in the meme coin.
On-chain data also revealed other whale transactions involving PEPE. One whale withdrew 660.7 billion PEPE from Binance and MEXC, while another withdrew 322.48 billion PEPE from Binance. In addition, a smart trader has been profiting from the meme coin since last year, completing 8 trades and generating a cumulative profit of $917,000. These transactions and profit margins suggest a growing interest in PEPE from both whales and smart traders.
PEPE has shown impressive performance this year, with a year-to-date gain of over 500%. This bullish momentum has caught the attention of analysts like Plazma and Yazan, who predict that PEPE could soon hit a new all-time high. Currently trading at around $0.000008615, just 20% below its ATH, PEPE has the potential for significant growth in the near future.
As the thirtieth largest crypto token by market cap, PEPE shows promise for climbing higher in the rankings. Analysts like Murad even suggest that PEPE could rise to the top 10 crypto tokens by market cap, potentially surpassing popular meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE). With a relatively low number of holders compared to its potential, PEPE has room for expansion in the market.
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