Has PEPE’s Recent Bullish Turn Propelled This Dormant Whale?

• A dormant PEPE whale showed activity for the first time after nearly 600 days.
• PEPE has factored in a 14.18% price increase over the past week as per CMC data.

This weekend has not entered into slumber, as Bitcoin spurs into bullish runs. The cryptocurrency surged to the $102K level in the past day. This has stirred some activity in the market, and the altcoin sector has shown mixed signals toward the bullish run. Meanwhile, a particular PEPE whale has caught market attention.

According to LookOnChain reports, a dormant PEPE whale, a few hours ago moved all of his 2.1 trillion PEPE holdings to a new address. The whale showed activity after a dormancy period of 600 days (1.6 years). This particular individual spent 0.0135 ETH worth $27 to buy the PEPE. His current holdings are valued at approximately $52 million.

A $PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE($52M) to a new address.

This whale initially only spent 0.0135 $ETH($27) to buy 2.1T $PEPE and has held it until now.

From $27 to $52M—an extraordinary 1,900,000x return!https://t.co/Et442zxUGk pic.twitter.com/35sp0Iu46E

— Lookonchain (@lookonchain) December 14, 2024

Furthermore, etherscan data shows that this whale’s wallet address – “0x1Ce” transferred the 2.1 trillion tokens to another anonymous wallet with the address “0xcbC”. Moreover, the PEPE price’s overall upward movement has rendered a profit percentage of approximately, 192,000,000% for the individual.

Meanwhile, in the past few days, the crypto market has seen a sharp increase in whale activity. WhaleAlert reports suggest several BTC whale movements, particularly with the price action of the past day. In the last 24 hours, a total of 5,086 Bitcoin tokens were moved amid different entities.

PEPE Price Overview

In the past day, frog-based memecoin PEPE has seen a 3.20% price increase. This price cycle initiated from the $0.00002349 to current levels at $0.000024. Moreover, the cryptocurrency, at the time of writing was trading at $0.00002424 as per CMC data.

Zooming out, over the past week, PEPE is one of the few tokens that remained bullish despite the market crash. Its weekly chart depicts a significant 14.18% increase. At the week’s beginning, it was trading at a low of $0.00002117 before climbing upwards.

On the other hand, the memecoin’s monthly performance remains mildly bearish owing to the notable dips it experienced earlier. However, the recent turn of events has instigated the dormant whale activity and suggests a continuing upward trend.

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