Crypto News

$PEPE Makes A Strong Comeback With $1B Trading Volume Amid Market Downturn

Today, $PEPE has reestablished itself as the leading meme coin, boasting a trading volume of $1 billion despite not being listed on Coinbase.

This resurgence has seen $PEPE increase by 12%, a notable feat given the broader market downturn.

Key to this surge has been the strategic moves by both smart DEX traders and whales. Many traders anticipated the price pump and increased their positions in $PEPE beforehand. Whales have also bolstered their holdings, further driving the token’s price upward.

However, the market dynamics took an intriguing turn when whale “0x837” transferred 1.1 trillion $PEPE, valued at $14.2 million, to Binance’s deposit address “0x0b1”. This substantial transfer raises questions about whether a significant sell-off is imminent on the centralized exchange.

Some Whale Still Holds 300 Billion $PEPE, Currently Worth About $3.78 Million

Despite this large transfer, whale “0x837” still holds 300 billion $PEPE, worth approximately $3.78 million. It’s noteworthy that this whale has incurred an estimated total loss of $1.7 million, or 5.69%, from their $PEPE investments.

This ongoing activity underscores the high-risk, high-reward nature of meme coin trading, where substantial gains can quickly turn into significant losses.

$PEPE’s recent performance highlights its resilience and the strong interest it continues to generate among traders and investors. Its ability to maintain high trading volumes and attract large-scale investments, even without a Coinbase listing, speaks volumes about its market position and the confidence of its backers.

As the market watches closely, the actions of major players like whale “0x837” will be pivotal in determining $PEPE’s short-term trajectory. Will the whale’s transfer lead to a sell-off, or will $PEPE continue its upward momentum? Only time will tell, but for now, $PEPE’s comeback story is one of resilience and strategic trading in the volatile world of meme coins.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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