PEPE Coin skyrockets by over 8% in the past 24 hours. Could this whale be the reason?
The PEPE meme coin witnessed significant activity on August 9, with a major crypto investor spending 1 million USDC to purchase 807 billion tokens.
The PEPE coin price has had a rough seven days, see-sawing between a high of $0.00000128 and a low of $0.00000108.
But after shedding off 5% from its price on August 8, Pepe took a turn, rising rapidly from $0.00000113 to $0.00000122. During this rise, the unnamed whale took a punt and splashed 1 million USDC ($1,000,300) on 807 billion PEPE coins, each priced at around $0.000001239.
Source: Lookonchain via Debank
Source: Lookonchain via Debank.com
With PEPE currently trading at $0.00000120, an 8.4% jump from the previous 24 hours, the whale’s meme coin stash is valued at approximately $968,000.
Ever since PEPE hit its all-time high of $0.0000044 on May 5, the coin has rarely gone above the $0.000002 level, but data from CoinGecko shows that its trading volume has increased significantly in the last three days, rising from $53 million on August 7 to $132.1 million on August 9.
It reflects the growing interest in the meme coin as bulls troop back into the market.
Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn
