- Pepe Coin (PEPE) has seen a surge in demand in the crypto market in the past week and has reached a new all-time high.
- A crypto whale exchanged all of his cryptocurrency holdings for PEPE, resulting in over $1 million worth of profits.
PEPE Coin sees massive demand
Pepe Coin (PEPE) has recently gained popularity in the crypto market, with several exchanges listing many meme coins, resulting in a surge in demand. A Pepe Coin (PEPE) whale accumulated the coin in large volumes in exchange for all of his cryptocurrency holdings, resulting in over $1 million worth of profits. The buying price of PEPE for the whale was around $0.0000005533, and the current diluted market cap of PEPE is $696 million.
PEPE Coin aims for stabilization
As with any other digital currency, the growth of PEPE to its all-time high is not sustainable, and the next move is for the token to undergo a major price reversal as some of the early buyers take profit. However, as PEPE seeks to stabilize its price volatility, it may focus on trackable protocol utilities in the near future. As one of the newest memecoins in the industry, PEPE can learn from pioneers such as Dogecoin (DOGE) and Shiba Inu (SHIB), which have attained the right level of stability and market capitalization running into billions, with the integration of several utilities.
In addition to the PEPE whale exchange, the crypto market has also seen a recovery after the US Federal Reserve announced a 25 bps target rate on expected lines. The Bitcoin price rose by over 2% in the last 24 hours, giving rise to hopes of a jump above the $30,000 level. While the hype surrounding the PEPE memecoin is high, the token’s price growth is backed by a verifiable uptick in the trading volume on exchanges, with over $407 million worth of PEPE tokens being traded at the time of writing. However, the volatility surrounding the PEPE memecoin remains high.