- Whales have increased their accumulation of PEPE as the price rebounds near key support levels.
- Binance.US listing has added to buying pressure, raising the possibility of a meme coin surge.
Pepe (PEPE) has seen a dramatic price rise amid bullish momentum. The surge in whale activity, however, points to growing long-term positioning, suggesting bulls could be setting up for another significant move.
Market data shows that on December 3, holders of this meme coin recorded net inflows of 580 billion PEPE and outflows of 534 billion PEPE. The trend of Pepe whale accumulation indicates potential price impact as buying pressure intensifies.
PEPE Whale Activity
According to Lookonchain, PEPE whales continue to accumulate the meme coin even as some long-term holders take profits. One whale deposited 356.2 billion tokens (about $7.3 million) to Kraken after realizing a 31x gain, while other large holders were buying heavily from the market.
Over the past 20 days, a single whale focused on accumulation. Lookonchain’s data shared on X revealed that the whale withdrew roughly 337.09 billion PEPE (about $6.92 million at the time) from Binance. This occurred as PEPE’s price surged alongside a broad rally in the meme coin sector, a move that was partly driven by the so-called “Trump trade” narrative.
Whales continue to accumulate $PEPE!
A whale has withdrawn 337.09B $PEPE($6.92M) from #Binance in the past 20 days.https://t.co/65vbIQd2dd pic.twitter.com/79NauAQt8V
— Lookonchain (@lookonchain) December 4, 2024
Data from IntoTheBlock shows the number of large transactions for Pepe fell by 3% over the past week. However, the share of addresses in profit climbed sharply to 83%, while addresses not in profit dropped to just 1%. Currently, over 54,800 addresses are in profit, representing 15.6% of total holders.
PEPE Turns Bullish Following Binance.US Listing
Binance.US opened deposits for PEPE on December 5 and announced trading for the PEPE/USDT pair would begin the same day. This listing coincided with a price reversal for the meme coin, amplifying bullish sentiment.
Deposits for $PEPE are now open on https://t.co/AZwoBOh0gq!
Trading on the PEPE/USDT pair will begin on December 5 at 6 a.m. EST.@pepecoineth is a meme coin based on the popular internet character, Pepe the Frog.
Read more: https://t.co/dJB9QYaGvm pic.twitter.com/Q3Aww1DnD2
— Binance.US 🇺🇸 (@BinanceUS) December 4, 2024
From a price perspective, PEPE has been trading in a consolidation range between $0.00001919 and $0.00002109 over the past 24 hours. The token’s value has risen roughly 14% in the last week, about 152% over the past month, and more than 1,500% year-to-date. Ranked third by market capitalization among meme coins after Shiba Inu and Dogecoin, PEPE’s market cap stands at approximately $869 million. Daily trading volume has increased by 9%, topping $4.2 billion.