The memecoin frenzy is heating up again, with whales aggressively accumulating $PEPE, fueling speculation that the popular token could be on track for a new all-time high.
On-chain data shows a sharp increase in large wallet activity around $PEPE, with several deep-pocketed investors making multi-million-dollar acquisitions over the past week. This trend comes at a time when Ethereum ($ETH) has been showing renewed strength, further boosting confidence in altcoins and memecoins across the market.
Analysts note that $PEPE’s strong correlation with $ETH price action could be the catalyst that propels it higher. Some in the crypto community are suggesting that a new all-time high for $PEPE could be reached within the next 30 days if the current momentum continues.
“Whales tend to front-run retail in these types of markets,” one trader remarked. “The aggressive buying we’re seeing in signals strong confidence that we could be entering another breakout phase.”
With the broader crypto market moving at breakneck speed, investors are reminded that conditions can change rapidly. However, with whale accumulation intensifying and memecoin narratives regaining traction, many believe is positioning itself for a major move in the weeks ahead.
