The token has been extensively accumulated by Pepe Coin whales, indicating an increase in market pressure for a 7x increase in the price of PEPE.
The persistent accumulation of the meme token with a frog motif by Pepe Coin whales during a bull cycle has generated an optimistic sentiment among investors worldwide.
On Wednesday, on-chain data suggested that a whale had proceeded to accumulate a total of 337.09 billion PEPE by acquiring the meme token.
Simultaneously, market aficionados throughout the crypto landscape are eagerly anticipating a potential 7x pump, as other statistics suggest heightened market interest in the asset.
Pepe Coin Whales Accumulation Is Optimistic, Crypto Market Is Bullish
The frog-themed meme token is still being accumulated by Pepe Coin Whales billionaires, as evidenced by data from Lookonchain, suggesting a rise in market interest.
It is important to note that the wallet addresses 0x160…b5B has purchased 337.09 billion PEPE, which is valued at $6.92 million, from Binance within the last 20 days.
This substantial accumulation, in turn, generated optimistic surges for the token, indicating an increase in buying pressure.
At the time of reporting, Etherscan data indicated a gradual increase in the number of asset proprietors.
Pepe Coin Whales was held by nearly 334,000 addresses, which generated optimism in the context of an optimistic Q4 crypto market, according to the data.
Additionally, it is important to note that this coin, which is considered one of the most popular memes, was recently included in the custody of Coinbase Prime.
This improved offering facilitates the inflow of capital into the token, thereby drawing a diverse array of investors.
Concurrently, the ongoing bull run of the frog-themed meme in the cryptocurrency market is indicative of market optimism in response to the increased purchasing and improved offerings.
Price Of PEPE Is Expected To Increase By Sevenfold
The price of PEPE was $0.00002065 at the time of reporting, representing a nearly 0.5% increase.
Its intraday low and high were $0.00001908 and $0.00002104, respectively. Additionally, the coin’s weekly and monthly data demonstrated gains of 12% and 154%, respectively.
Investors’ confidence in the meme token’s future growth has been reinforced by the favorable trajectory and subsequent surge in purchasing.
Intriguingly, a recent PEPE price analysis conducted by CoinGape indicated that the meme coin could experience a 7x increase in value, which would significantly increase its gains.
This favorable analysis is also supported by the increasing accumulation of Pepe Coin whale tokens, which were reported to be over 10 trillion.
In general, the aforementioned statistics present a highly optimistic outlook for the meme token with a frog motif, suggesting that additional gains may be feasible in response to the increasing market interest.
The coin continues to be observed by market observers, who are predominantly optimistic about its future movements.