The PEPE price recently achieved a groundbreaking milestone, reaching a new all-time high (ATH) of $0.00002716. This marks the first instance of a major meme cryptocurrency attaining such heights during the current bullish cycle. The impressive surge to this new PEPE ATH was significantly influenced by heightened activity and accumulation from cryptocurrency whales.
Whale Accumulation: A Core Catalyst for PEPE’s Bullish Surge
Insightful data from renowned crypto analyst Ali Martinez points out that PEPE whales have recently increased their holdings by a staggering $1.14 billion, elevating the total amount controlled by whales to $7.56 billion. This strategic accumulation played a crucial role in the cryptocurrency’s bullish momentum over the weekend, with PEPE’s market capitalization breaching the $10 billion mark for the first time. As of now, PEPE boasts a market cap of approximately $11.17 billion, with these whale investors holding about 67% of the total market cap.
Expanding Whale Holdings
The surge in whale accumulation is not a recent phenomenon. According to IntoTheBlock’s Balance By Holdings In USD metric, there has been a 30-day increase of 147.81% in the holdings of addresses owning more than $10 million worth of PEPE tokens. This accumulation trend includes a massive purchase of $1.14 billion on December 7 alone. Other investor groups have also expanded their positions in the last month. Addresses holding between $1 million and $10 million in PEPE saw a 119% increase, while those holding between $100,000 and $1 million experienced a 108% rise. Meanwhile, mid-tier investors with holdings between $10,000 and $100,000 registered an 84.25% growth, and smaller holders with investments ranging from $1,000 to $10,000 increased their holdings by 55.29%.
Broader Accumulation Impact
This widespread accumulation across all investor categories has intensified the buying pressure on PEPE, propelling the meme cryptocurrency’s value by an impressive 150% in the past 30 days.
Exchange Listings Elevate PEPE’s Market Presence
An additional significant factor contributing to PEPE’s remarkable performance is its enhanced accessibility through listings on major crypto exchanges. Recently, PEPE has been listed on prominent platforms such as Coinbase, Robinhood, and Binance US, considerably boosting its visibility to both retail and institutional investors in the United States. These strategic listings have facilitated easier trading and investment in the meme cryptocurrency for a wider audience.
Growing Market Accessibility
The impact of these exchange listings has been substantial, particularly during the current bull phase in the cryptocurrency market. At present, PEPE is trading at $0.00002616, reflecting a 3.5% increase over the past 24 hours. As whale and retail accumulation persist, PEPE’s upward trajectory appears poised to continue its momentum.
In conclusion, the recent developments surrounding PEPE highlight the growing influence of whale activity and strategic exchange listings in driving the cryptocurrency’s value. As the market continues to evolve, PEPE’s position within the meme cryptocurrency landscape remains one to watch closely.
