Crypto Wiki
June 29, 2024

BlockTower Capital Transfers PEPE Tokens, Records 25% Price Surge

PEPE crypto coin found itself at the epicenter of a retail investing frenzy. With a surge of over 25 percent in just 24 hours, PEPE crypto managed to leapfrog dogwifhat (WIF).

Metaverse Post notes that data speaks for itself: Dogecoin (DOGE), with a daily trading volume of a comparatively modest $2.58 billion, is dwarfed by PEPE, whose incredible $3 billion daily trade volume has surged to.

It is necessary to examine the complex dynamics of the meme coin market in order to comprehend the factors that have contributed to PEPE’s explosive rise. This industry, which is sometimes written off as a fleeting craze, is presently undergoing a resurgence, with its total value rising to an astounding $62 billion and an average daily trading volume of over $10 billion.

A number of important variables have contributed to PEPE’s success. The most important of these is the large liquidity of about $60 million in WETH, which makes it possible for whale and retail traders to swap PEPE tokens without running into problems with liquidity.

Early PEPE investors have been quite active in the last few weeks, and Lookonchain’s on-chain experts have noticed significant liquidations. One trader made a significant investment into the Bybit exchange in a single day, worth over 201 billion PEPE tokens, or over $2.83 million.

On the exact same day, another early investor created headlines when he deposited over 182 billion PEPE tokens into Binance, turning a $462 original investment into an astounding $3.4 million gain. The investment firm company BlockTower Capital, however, made the biggest move.

When the company bought 202 billion PEPE via Cumberland a week ago and made a profit of more than half a million dollars, BlockTower Capital news made headlines. This calculated action highlighted the large profits that might be made in this erratic market niche.

The recent price increase can be attributed to the $2.8 million sale of 202 billion PEPE tokens by BlockTower Capital to Cumberland. In just six days, this purchase not only brought in a 26% profit for the company, but it also sparked a surge of fresh interest in the meme currency.

According to PEPE crypto price prediction models, the meme currency may keep going higher, aiming for milestones at $0.00001650 and possibly even hitting new heights at $0.00002.

The technical study of the price behavior of PEPE provides additional support for this confidence. A rising channel pattern on the token’s price history is a positive indicator of a long-term rising trend. PEPE is well-positioned to benefit from the increased interest in meme currencies and the Fear of Missing Out (FOMO) that frequently accompanies such rallies, especially in light of the larger momentum in the Ethereum network.

Even while PEPE Crypto has taken center stage, there are other meme coins that are becoming popular. Another Ethereum-based meme coin, Floki, has also had a notable upswing, rising by over 15% and overcoming a critical resistance stage. Due to Floki’s outstanding performance, investor interest and speculation have increased as it moves closer to the next resistance zone.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

He's a seasoned writer known for crafting compelling narratives that engage audiences and drive brand growth. With a keen eye for detail and a passion for storytelling, Kenth excels at turning complex ideas into eye-catching marketing messages.

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Kenth Bennett
Kenth Bennett

He's a seasoned writer known for crafting compelling narratives that engage audiences and drive brand growth. With a keen eye for detail and a passion for storytelling, Kenth excels at turning complex ideas into eye-catching marketing messages.

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