PEPE whale activity explodes amid price rally to new ATH

PEPE Price Rally and Whale Activity Surge

The recent surge in Pepe (PEPE) prices has led to a significant increase in whale activity in the memecoin market. In the last 24 hours, PEPE has surged by 21% and is currently trading at $0.0000102. The coin hit an all-time high of $0.0000109 on March 13, with a total market cap of $4.3 billion and a daily trading volume of $2.15 billion.

Whale Transactions and Exchange Activity Spike

Data from Santiment shows a 416% increase in whale transactions involving at least $100,000 worth of PEPE in the past 24 hours, jumping from 135 to 697 unique transactions per day. Exchange activity for PEPE has also seen a spike, with inflows and outflows rising significantly. The coin is currently witnessing heightened exchange activity, with potential short-term selloff risks as whales consider taking profits at the current price levels.

PEPE Overvalued with Increased Volatility Expected

With PEPE’s Relative Strength Index (RSI) hovering around the 70 mark, indicating overvaluation, increased price volatility is expected until further market movements. The heightened whale activity and rising RSI suggest a period of uncertainty for PEPE’s price trajectory. As the memecoin ecosystem continues to gain bullish momentum, PEPE, along with other top gainers like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki (FLOKI), are attracting attention in the cryptocurrency market.

Best Exchanges

Sign up now to enjoy a 20% discount on trading fees.

Join millions of traders worldwide on the platform trusted for its security, innovation, and global reach. Don't miss out, register today and start trading smarter with Bybit!

Sign up now to enjoy a 20% discount on trading fees.

Join millions of traders worldwide on the platform trusted for its security, innovation, and global reach. Don't miss out, register today and start trading smarter with Binance!

Sign up now to enjoy a 10% - 30% discount on trading fees.

Join millions of traders worldwide on the platform trusted for its security, innovation, and global reach. Don't miss out, register today and start trading smarter with OKX!

© Copyright 2023 | Powered by Inscoin