Crypto Whale Withdraws Over Half a Trillion Pepe (PEPE) as Memecoin Soars: On-Chain Data Reveals
The crypto world is abuzz with news of a massive withdrawal of over half a trillion Pepe (PEPE) tokens by a deep-pocketed crypto entity. According to on-chain data from Lookonchain, the whale withdrew 592 billion PEPE from Binance, worth nearly $8 million at the time of the transaction.
Pepe, currently trading at $0.0000137, has seen a significant surge in value, up 11.5% in the past 24 hours and a whopping 108% in the last month. This sudden spike has caught the attention of analysts, with some turning bullish on the meme coin.
Altcoin Sherpa, a pseudonymous crypto analyst, believes that Pepe is a good investment opportunity, citing its liquidity and strong volume. However, he also warns of potential downside risks, suggesting that the coin could retest lower trading ranges before rallying again.
On the other hand, analyst DonAlt is more cautious, warning that red-hot meme coins like Pepe could see a drastic drop in value of over 80% based on historical data. He predicts that new memes will emerge in the future, leading to similar discussions about their potential.
As the crypto market continues to be volatile, investors are advised to do their due diligence before making any high-risk investments. The future of meme coins like Pepe remains uncertain, but one thing is for sure – the crypto world is always full of surprises.
