Today, the price of Pepe Coin has increased by 3.5%, reaching $0.00001114. This rise comes amidst a slight 0.3% dip in the broader cryptocurrency market.
Over the past week, PEPE has surged impressively by 41%, and over the last 30 days, it has seen a remarkable 102% increase. Notably, yesterday, an early investor or insider took advantage of PEPE's movements by selling 255 billion tokens, resulting in a profit of $2.3 million.
However, this same investor still holds approximately 3.5 trillion PEPE tokens, representing a staggering overall profit of 15,718x.
With PEPE hitting new all-time highs, including a peak of $0.00001151 earlier today, it appears that its momentum will likely persist in the short and medium term.
Is It Time to Invest in PEPE Coin After Trader Makes 15,718x Profit?
Although this would often indicate an impending decline, PEPE's price is still showing extreme bullishness. We previously stated as much yesterday.
And what makes PEPE special is that it has exceeded its early March highs, in contrast to the majority of other top-100 coins.
This is due to two interconnected factors. The first is that in recent weeks, whales have been gathering and pumping PEPE.
Furthermore, it was reported this week that renowned meme-stock trader "Roaring Kitty" returned to X, raising the possibility that we are in for a meme season.
Similar market dynamics were observed following the GameStop rally of 2021, although there's no clear indication that Keith Gill, also known as Roaring Kitty, will initiate a similar event in the near future. Nevertheless, the market seems to be anticipating such a possibility.
PEPE has emerged as one of the primary beneficiaries of this market sentiment, benefiting from its popularity among whales and larger traders. As evidenced by the significant holdings of one prominent whale, holding 3.5 trillion PEPE tokens, there's a strong expectation for its continued upward trajectory in the medium to long term.
Given these factors, it's anticipated that PEPE will sustain its upward trend in the coming days, potentially reaching a new all-time high by the week's end.
Meme Coins That Are Newer Could Lead
While PEPE is undoubtedly one of the alts to keep an eye on right now, there are other intriguing coins available on the market as well, with a number of more recent meme tokens appearing certain to rise in the near future.
Actually, a few brand-new meme coins are having their presales right now; some of them have raised a sizable sum of money and created a lot of buzz.
Dogeverse (DOGEVERSE), a multi-chain token that has raised over $15 million in its token offering, is arguably the most fascinating one at the moment.
DOGEVERSE deviates from the original Dogecoin in two fundamental aspects. Firstly, it will operate on Ethereum, Polygon, BNB Chain, Solana, Avalanche, and Base.
The fact that DOGEVERSE exists on multiple chains enhances its potential for wider adoption, as the coin could be utilized across various applications and trading platforms, increasing its traction in the market.
Furthermore, DOGEVERSE operates as a deflationary meme coin, boasting a fixed supply of only 120 million tokens. This scarcity, coupled with potential increased demand, could drive the coin's price higher over time.
The ability to stake the token adds another dimension to its potential value proposition, as staking could result in a significant portion of the token supply being removed from circulation.
Overall, DOGEVERSE appears to be emerging as one of the standout meme coin listings of the year, as evidenced by its successful fundraising efforts.
For those interested in participating, newcomers can still acquire DOGEVERSE by visiting the official Dogeverse website, where 1 DOGEVERSE is priced at $0.00031.
May 2024, Cryptoniteuae