PEPE’s eyes dart between the Binance.US listing, the stock of whales.
PEPE is seeing an increase in whale stocks as prices rise at key levels. More buy-side pressure for meme coin could explode as Binance.US lists tokens.
Pepe (PEPE) recorded a significant price increase amid high momentum. However, the bulls could see another big move as the increase in whale activity signals a long-term position.
According to market data, the Mem Coin holder composition had a net 580 billion PEPE inflow and 534 billion PEPE in Dec.3. It had a flow. As market trends point to Pepe Well's stock, this view shows the potential impact on prices as pressure buying increases.
PEPE whale activity
According to Lookonchain, PEPE whales continue to accumulate meme coins. This comes as some long-term holders take profits.
While one whale staked 356.2 billion tokens worth $7.3 million for Kraken, recording a 31x profit, others quickly pulled meme coins out of the market.
In the last 20 days, a whale has gone into storage. Per Lookonchain data shared on X, the whale has withdrawn approximately $337 billion worth of Pepe tokens from Binance during the period. This happened as the price of PEPE jumped alongside the broader meme market. The sector is one of the few that has ridden the “Trump business” narrative to prominence.
Whales continue to accumulate $PEPE!
A whale has withdrawn 337.09B $PEPE ($6.92M) from #Binance in the last 20 days. pic.twitter.com/79NauAQt8V
— Lookonchain (@lookonchain) December 4, 2024
According to IntoTheBlock data, the number of large transactions in Pepe last week decreased by 3%. However, the number of addresses in profit has increased to 83%, they are only 1% of the money. Holders of the fund currently account for more than 54.8 thousand addresses or 15.6% of total holders.
Among the Binance list, the eyes of the price of Pepe are flipped
Binance.US will list PEPE for trading on December 5th. The news was linked to a change in the price of Mem Coin. Here is the announcement of the exchange.
The $PEPE deposit is now open.
Trading on the PEPE/USDT pair will begin on December 5th at 6 am EST.@pepecoineth is a meme coin based on the popular internet character Pepe the Frog.
Read more: pic.twitter.com/Q3Aww1DnD2
— Binance.US 🇺🇸 (@BinanceUS) December 4, 2024
In terms of value, PEPE has maintained a strengthening range of $0.00001919 – $0.00002109 over the past 24 hours. The token's price has jumped 14% in the past week, 152% in the past month, and more than 1,500% in the past year.
After Shiba Inu and Dogecoin, Memecoin is the third largest in the market with a market cap of $8.69 billion. 24-hour trading volume rose 9 percent to $4.2 billion.
