- A whale buy of 1.52 trillion PEPE tokens worth $16 million sparks a major price surge.
- Altcoin season boosts Pepe Coin, with funds shifting from Bitcoin to meme coins.
- Technical breakout signals continued bullish momentum for PEPE as social buzz increases.
Pepe Coin (PEPE) has experienced a significant price surge of around 13% in the past 24 hours, with trading volumes soaring to $1.34 billion, marking a near 150% increase. The market cap of PEPE has also climbed to approximately $5.09 billion. This sudden surge has captured attention, with analysts pointing to several key factors fueling this growth.
A large purchase by a crypto whale has played a major role in driving Pepe Coin’s price upward. On-chain data revealed that a single wallet bought a massive 1.52 trillion PEPE tokens, valued at roughly $16 million. This purchase, made through Kraken, one of the world’s top cryptocurrency exchanges, has been one of the largest transactions in PEPE’s history. Whale movements like this often lead to increased market activity, as smaller investors tend to follow the lead, speculating that a major player is behind the investment.
Altcoin Season Adds Fuel to the Fire
PEPE’s rally is also benefiting from the ongoing altcoin season, a time when alternative cryptocurrencies outperform Bitcoin. The CMC Altcoin Season Index has recently climbed from 66% to 76%, now settling around 70%. As investors shift focus from Bitcoin to riskier assets, tokens like Pepe Coin are seeing increased attention. This trend is further supported by PEPE’s loyal community and its token-burning mechanism, which gradually reduces its supply over time, potentially driving its value higher.
On the technical side, PEPE has broken through key resistance levels, signaling a bullish trend for traders. The combination of high trading volumes and positive momentum indicators suggests that buyers have taken control, pushing the price higher. Additionally, the social media buzz surrounding Pepe Coin is further contributing to its rise. Traders are reacting to these signals, further boosting the token’s price.
Pepe Coin’s Position in the Market
Currently ranked at number 31 by market capitalization, Pepe Coin is proving that it is more than just a passing meme token. While the volatile nature of meme coins remains, PEPE’s recent performance reflects a growing market interest. If the current momentum continues, PEPE could see further growth, although the risk of price correction remains as traders look to secure profits.
