PEPE Coin experienced a significant surge in growth, reaching a new all-time high. A large investor, often referred to as a “whale,” profited $13.67 million from PEPE and still holds 1.26 trillion Pepe coins.
The frog-themed memecoin, PEPE, had an impressive week with a 30% increase, hitting a new all-time high of $0.00001128. This surge in price caught the attention of investors and analysts, as the coin has seen a 109% increase in the past month and a 901% increase in the past six months. With these impressive gains, investors have high hopes for the future of this meme coin.
Meme coins have been in a bearish trend for a while, but yesterday’s unexpected rise in price has raised expectations for the value of PEPE in the coming days.
In addition to the price surge, whales are also profiting from PEPE. One whale made a profit of $13.67 million in just three months and used a portion of that profit, around $1.56 million, to buy 1.40 trillion Pepe coins. The whale recently sold 140.4 billion PEPE for 1.57 million DAI at the new all-time high, but still holds 1.26 trillion Pepe coins, which are worth $13.7 million.
Since March, Pepe Coin has been struggling to surpass the resistance level of $0.00000900, but the price has been on an upward trend since mid-April. Currently, the coin is valued at $0.00001103, representing a 6.75% increase in a day. The surge in trading volume has also attracted investor interest and market engagement with this meme coin.
It is worth noting that Pepe’s performance coincided with the return of Keith Gill, also known as the “Roaring Kitty,” who had been dormant in the meme coin sector since June 2021 but re-entered on May 13, 2024. This re-entry sparked a rally in the meme coin market, with Solana-based GameStop memecoin (GME) surging over 350% and the AMC token witnessing a 900% increase. Other meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) also experienced gains, according to CoinGecko data.
In other cryptocurrency news, El Salvador has made headlines for mining $29 million worth of Bitcoin using volcano energy.