• Pepe coin has experienced an impressive surge of over 75% within the last week.
• A whales withdrew an astounding 2 trillion PEPE tokens from Binance, worth roughly $3.28 million.
• Santiment’s outflow chart indicates that the volume of tokens withdrawn from exchanges that day reached nearly 3 trillion.
Recent Surge of Pepe Price
Pepe has experienced an impressive surge of over 75% within the last week, reigniting investors’ optimism in its potential. This increase was mainly attributed to the prevailing market sentiment and was further fueled by BlackRock Capital’s recent endorsement and support for a Bitcoin ETF, resulting in a notable rise for coins like $PEPE.
The Whale’s Trail
Lookonchain data has revealed an intriguing discovery about an important occurrence involving a Pepe whale. This specific whale made a huge move on July 5 when he withdrew an astounding 2 trillion PEPE tokens from Binance, worth roughly $3.28 million. As of the time of writing, the addresses controlled by the whale currently hold a total of 3.94 trillion PEPE tokens, estimated at $6.45 million.
The Whale’s Effect on Token Withdrawals
An extensive analysis of the PEPE transaction activity on Santiment has uncovered the significant consequences of the whale’s action on July 5. Santiment’s outflow chart indicates that the volume of tokens withdrawn from exchanges that day reached nearly 3 trillion. This outflow volume created some buying pressure as traders sought to take advantage of it before it disappeared completely from circulation – resulting in a surge in prices for Pepe coin holders and investors alike.
Future Prospects
This year has been an interesting one for meme coins and their investors, especially those who entered early with popular projects like PEPE and FLOKI now have something to rely on despite losing momentum in many meme coins recently.. The current surge is certainly encouraging news for those holding onto their Pepe coins or looking to invest into them; however, there are still risks associated with any cryptocurrency investment so caution should be taken before entering into any new positions in order to mitigate potential losses down the line .
Conclusion
Pepe coin’s recent surge shows great promise for meme coins‘ future prospects, though caution should still be taken when investing into them due to their high risk nature compared to more established cryptocurrencies like Bitcoin or Ethereum . Investors should always do their own research and carefully consider all factors before investing into any cryptocurrency asset class in order to maximize their returns while minimizing potential losses along the way .