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Is PEPE's New ATH High Record a Sign of Memecoin Revival?

source-logo  thenewscrypto.com 14 May 2024 07:34, UTC
  • PEPE Whales Cash In as Memecoins Take Center Stage.
  • FLOKI saw a 10% surge in the past 24 hours.

Memecoins are once again capturing the attention of traders and investors, with PEPE and FLOKI leading the charge. PEPE, in particular, has reached a new all-time high (ATH) of $0.00001101, marking a significant milestone.

PEPE is currently trading at $0.00001073, boasting a surge of 22%. This surge is reflected in the trading volume, which has soared to $2 billion, marking a staggering increase of 298.18%. Additionally, the market capitalization of PEPE has seen a surge of 22%. Over the last 24 hours, the price of PEPE has climbed from $0.000008713 to its current ATH, indicating strong bullish momentum.

PEPE Price Chart, Source: TradingView

PEPE Whales Makes Profit

However, amidst the euphoria of PEPE’s new high, whales have taken the opportunity to realize profits. One notable early holder, identified by their wallet address as 0x647, deposited 250 billion PEPE tokens, equivalent to $2.69 million, to Binance approximately 12 hours ago. Following this deposit, the whale now holds 42.4 billion tokens, representing a total profit of $3.96 million, reflecting an impressive surge of 8,833%.

Similarly, another whale, identified as 0xa4f, sold 123.7 billion tokens for 1.31 million USDC roughly 13 hours ago. This transaction resulted in a profit of $223,000, equivalent to a notable increase of 20.5% within just three days.

Meanwhile, the overall trading volume of memecoins has surged by 144%, underscoring the renewed interest in this segment of the cryptocurrency market. FLOKI, another prominent memecoin, has witnessed a surge of 10.33% and reached a 10-day high of $0.0001972, further contributing to the bullish sentiment surrounding memecoins.

With whales strategically capitalizing on price movements, the dynamics of these memecoins remain dynamic, capturing the attention of traders.