Pepe Coin’s whales’ steady accumulation of the frog-themed meme token amid a bull cycle has sparked a wave of optimism among investors around the world. On-chain data on Wednesday indicated that a whale continued to pocket the meme token, accumulating a total of 337.09 billion PEPE to date. Simultaneously, with other statistics indicating increased market interest in the asset, a potential 7x pump remains highly anticipated by market enthusiasts across the crypto landscape.
Pepe Coin Whale Accumulation Is Bullish and Crypto Market Is Bullish
According to Lookonchain data, Pepe Coin whales continue to accumulate the frog-themed meme token, indicating increased market interest. Notably, wallet address 0x160…b5B purchased 337.09 billion PEPE, worth $6.92 million, from Binance over the last 20 days. This massive accumulation, in turn, triggered bullish waves for the token, signaling increased buying pressure.
Simultaneously, Etherscan data presented a gradual increase in the number of asset holders at the time of writing. According to the data, nearly 334,000 addresses held Pepe Coin, sparking optimism in a fourth-quarter crypto bull market.
It is also worth mentioning that this one best coins was recently included in custody on Coinbase Prime. This enhanced offering paves the way for money to flow into the token, attracting a wide range of investors. Simultaneously, the frog-themed cryptocurrency’s ongoing bull run reflects market optimism following increased buying and improved offerings.
Will the price of PEPE increase by 7 times?
At the time of reporting, PEPE Price was up almost 0.5% and trading at $0.00002065. Its intraday lows and highs were $0.00001908 and $0.00002104, respectively. Additionally, the coin’s weekly and monthly charts showed gains worth 12% and 154%, respectively. Overall, the upward trajectory, followed by increased buying, has solidified investor optimism for further gains for the meme token.
Interestingly, a recent PEPE price analysis by CoinGape pointed out that the meme coin could rise another 7x, extending the gains phenomenally. This bullish analysis also relies on the growing accumulation of Pepe Coin whales, as over 10 trillion tokens have reportedly been accumulated.
Overall, the statistics mentioned above paint a very optimistic scenario for the frog-themed meme token, indicating that more gains are possible in light of growing market interest. Market watchers continue to watch the coin, mostly reflecting bullish sentiments about future moves.
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Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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