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10 December 2024
Обновлено 11 December
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PEPE Reaches $10.5 Billion Market Cap with Increased Whale Investments

PEPE Cryptocurrency Achieves $10 Billion Market Valuation

PEPE, a meme-inspired cryptocurrency, recently surpassed a market valuation of $10 billion, with its price increasing over 22% in the last week. This growth is attributed to several factors, including exchange listings, whale accumulation, and overall bullish market sentiment following major events.

Exchange Listings Boost Adoption

High-profile exchange listings on platforms such as Binance.US, Coinbase, and Robinhood have expanded PEPE's reach, enhancing liquidity and interest among traders and investors. This increased accessibility has placed PEPE prominently within the cryptocurrency community.

The market's positive momentum coincided with Bitcoin surpassing $100,000 after the US presidential election results, further benefiting altcoins like PEPE.

Whale Investors Shape The Market

Whale activity significantly contributed to PEPE's rise, with large investors acquiring $1.14 billion in tokens in one day. Wallets holding $10 million or more increased their balances, indicating a transfer from smaller holders to larger investors. Data shows that midrange and large-tier wallets increased their holdings by up to 120%, suggesting potential long-term gains.

Bullish Forecasts And Market Dynamics

Analysts predict a potential 254% increase for PEPE within three months, driven by strong investor interest and favorable market conditions. The addition of 13,000 new wallets in the past month indicates organic demand supporting this growth. Long-term projections suggest a possible 1720% gain within a year, fueled by optimism regarding Ethereum ETFs and regulatory clarity. Analysts believe that maintaining crucial support levels will enable PEPE to overcome resistance and continue rising.

A Leader In Meme Coins

PEPE, currently priced at $0.00002549, illustrates the growing importance of meme currencies in the cryptocurrency sector. Its rapid ascent highlights the speculative nature of these assets while solidifying its position among the top memecoins, reflecting the dynamic and unpredictable characteristics of cryptocurrency markets.

Featured image from Rolling Stone, chart from TradingView