Pepe Coin whales’ continued accumulation of the frog-themed meme coin project amid the bull cycle has sparked a wave of optimism among investors globally. On Wednesday, on-chain data showed that a whale continued to package the meme token, accumulating a total of 337.09 billion PEPE to date. Simultaneously, a potential 7x pump is being anticipated by market enthusiasts in the crypto space, along with other statistics showing the growing market interest in the asset.
Pepe Coin whale accumulation optimistic, crypto market bullish
According to Lookonchain data, Pepe Coin whales continue to accumulate the frog-themed meme token, indicating growing interest in the market. Notably, wallet address 0x160…b5B purchased 20 billion PEPE worth $6.92 million worth $337.09 billion on Binance in the last 337.09 days. This massive accumulation signaled increased buying pressure, creating waves of optimism for the token. Simultaneously, Etherscan data showed a gradual increase in holders of the asset at the time of reporting. According to the data, around 339,000 addresses held Pepe Coin, leading to optimism amid the Q4 crypto market rally.
It is also worth noting that one of these most popular meme coins was recently acquired on Coinbase Prime. This enhanced offering is attracting a wide range of investors, paving the way for money to flow into the token. At the same time, the ongoing bull run of the frog-themed meme crypto reflects the market bullishness following increased buying and enhanced offerings.
Will meme coin PEPE make 7x?
At the time of reporting, PEPE price was up about 0.5% and traded at $0.00002065. Its intraday low and high were $0.00001908 and $0.00002104, respectively. Moreover, the weekly and monthly charts for the meme coin exhibited gains of 12 percent and 154 percent, respectively. In total, the bullish trajectory and subsequent increased buying has solidified investors’ optimism surrounding further gains for the meme token.
Interestingly, a recent PEPE price analysis by CoinGape analysts pointed out that the meme coin could rise 7 times higher, boosting gains phenomenally. This bullish analysis also points to the rising Pepe Coin whale accumulations, as more than 10 trillion tokens have reportedly accumulated. Overall, the aforementioned statistics paint a highly bullish scenario for the frog-themed meme token and suggest that further gains are possible in light of the burgeoning market interest. Market observers continue to monitor the coin, primarily reflecting bullish sentiments on future movements.
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