Monday saw a 30% rise in the price of PEPE, which is likely due to whale accumulation.
As the memecoin peaked at $0.00000755 on Monday, PEPE pricing gave holders double-digit gains for the day.
Binance is seeing an accumulation of PEPE holdings from large portfolio investors; “Whales” bought over 840 billion PEPE today.
Active addresses and network growth reach a six-month high, and on-chain PEPE indicators support the rise in meme prices.
On Monday, PEPE – one of the largest tokens in the cryptocurrency ecosystem – saw double-digit growth. A few hours ago, the price of the meme coin jumped to $0.00000755, and whales are buying the frog-themed cryptocurrency.
Whales are buying meme tokens by the billions, causing PEPE prices to soar
Large wallet addresses have been collecting PEPE at a rapid pace recently, according to data from cryptocurrency intelligence tracker Lookonchain. On Monday morning, a whale removed 184.4 billion PEPE tokens, worth $1.02 million at the time, from Binance. The unrealized gain of fifteen thousand dollars is the responsibility of the company.
