PEPE Explodes 20% Daily to New All-Time High | BinanX News

TL:DR;

• PEPE has resumed its bullish rally that began in early November by skyrocketing 20% ​​in the last 24 hours to reach a new peak of over $0.000026.
• This comes after recent reports of whales accumulating substantial portions of the third largest meme coin.

CryptoPotato reported on November 13 about the impressive PEPE surge that drove the asset north by 100% in the span of a week and 50% daily at that time. This was due to some listings on large exchanges like Coinbase and Robinhood.

In the following weeks, PEPE, along with many other meme coins, calmed down and retreated by as much as 25%. However, this did not deter investors.

Quite the contrary, on-chain data showed that whales continued to accumulate assets with several large purchases in a matter of days. These acquisitions typically precede price rallies in the underlying asset due to decreased available supply.

In fact, this increase came just days after we reported on the whale purchases. In the last 24 hours alone, PEPE launched a tough offensive, rising 20% ​​and surpassing its all-time high of November 13. The last peak occurred just a few minutes ago at $0.00002622, according to data from CoinGecko.

Thus, PEPE has solidified its position as the third largest meme coin. It has also risen to 23rd position among all cryptocurrencies, with a market capitalization of over $11 billion.

The always vocal PEPE community was quick to celebrate the move, with some even predicting a larger increase that could help it overtake SHIB and become the second largest in its realm.

$PEPE HE JUST REACHED THE NEW ALL-TIME HIGH!!!!!
WE ARE IN PRICE DISCOVERY

AND $PEPE IT’S ABOUT TO COME BACK $SHIB!!!!!!! pic.twitter.com/j7qZPsm4t7

– Crypto Bratan (@cryptobratan1) December 7, 2024

SHIB’s current market capitalization is $19 billion, which means PEPE is about $8 billion away. Although it may seem like a substantial difference, this bull cycle has marked numerous mind-blowing rallies so anything is possible these days.