Price PEPE Soars to Print New ATH, Memecoin Still Hot Following Bitcoin's Steps
Price PEPE Soars to Print New ATH
Crypto Intelligence reports that, Pepe Coin has joined this incredible trend by hitting a new all-time high (ATH), a development that prompted large holders to start securing their profits.
Launched in April of the previous year, the frog-themed PEPE quickly created a niche for itself in the competitive memecoin market, challenging other leading names such as BONK and various Solana-based memecoins.
Despite experiencing a period where it received less attention, PEPE's value soared during the most recent market rally, benefiting from the overall positive market sentiment that boosted many cryptocurrencies.
A notable highlight in PEPE's recent journey was a significant transaction identified by Lookonchain, where a whale achieved gains of over 431 percent in just two weeks.
This individual withdrew more than 1 trillion PEPE tokens from Binance in three separate moves before the price spike, generating an impressive profit of US$8.13 million from an initial investment of US$1.7 million in PEPE tokens.
These transactions underscore the potential for substantial gains in the memecoin sector and illustrate the shrewd maneuvering of some investors adept at navigating the volatile crypto market.
This surge in PEPE's value indicates a broader resurgence of interest in memecoins. Over the past month, PEPE itself has seen its value increase by 800 percent, pushing it to become the third largest memecoin by market capitalization, at US 3.85 billion.
This growth reflects a strong increase in trading volume and market activity, highlighting the rising popularity of these tokens and growing investor interest in memecoins.