Pepe Coin Price Soar: $2 Million In Profits For Traders

Last updated: 2024-02-29

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In the past four days, the price of Pepe coin has increased by almost 180% and is heading toward its all-time high.

The price of Pepe coins has increased further, rising by 50% in only one day and by almost 200% over the previous week. Why, therefore, has Pepe Coin’s value increased so much?

The crypto market, including Pepe Coin, has performed better as a result of the fear and greed index indicating an extreme in the market.

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Pepe Coin Price Analysis

The idea of rewarding users for trading in Pepe, a meme coin with a frog theme, is what made it popular. With a trading volume of $1,935,321,545, it has experienced a day climb of around 45% and is now trading at $0.000003241. Pepe began making this jump on February 26th and has been steadily climbing toward the top value ever since.

This is reminiscent of the pattern seen in May of last year, just after Pepe Coin was launched. The price of PEPE hit a record high of $0.000004354 in May 2023 before quickly declining. Because investors made a ton of money during that time and are still hoping for another price spike, it wasn’t a little increase.

Pepe Coin Price Analysis

According to the On-Chain data, the number of active PEPE wallet addresses has increased. This has led to a 200% increase in the value of the meme coin over the past week. In addition, there was an uptick in whale transactions involving PEPE valued $50,000 to $100,000.

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Traders Gained $2 Million

Lookonchain, a well-known crypto analytics firm, found that many people have been able to profit from this increase. Throughout this time, six wallets made a combined profit of $2 million by selling 1.98 trillion Pepe coins, which is equivalent to $4.3 million.

A wallet with the address “0xa145” has sent $1.4 million in $PEPE to the Binance exchange, out of the six. The individual achieved a remarkable 97% gain, or $515,000, in just six hours.

Someone who deposited $1.5 trillion $PEPE, or about $3.3 million, to Binance is believed to be associated with all five wallets. The individual gained $1.49 million, an increase of 82%.

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Conclusion

A new all-time high has been reached in the price of Pepe Coin. Assuming it maintains its current rate of growth, the community will witness the new ATH. This PEPE rise is a result of the current market conditions and the increased whale activity for meme coins.

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