- Recent reports reveal a crypto whale withdrew $6.4 million worth of PEPE from KuCoin, sparking debate about the Frog-inspired cryptocurrency’s future.
- Despite a significant price increase, over 90% of PEPE investors are still confident in continued growth.
- PEPE has seen a 165% increase in November, positioning it just below its record high.
Recent reports of a crypto whale snapping 310 billion PEPE from crypto exchange Kucoin have ignited the debate about what the future holds for the Frog-inspired cryptocurrency. Blockchain analyst shared the information ‘The Data Nerd’ on Twitter. In the post, he disclosed how an unknown wallet “0x535” withdrew over $6.4 million worth of PEPE on November 22.
This development shed light on the stellar performance of the memecoin as of late. According to data from IntoTheBlock — over 90% of investors holding $PEPE are at a profit. Meanwhile, Pepe’s greed index remains neutral despite a substantial surge in price over the past month.
The data suggests that — despite a massive increase in value in November — holders are still somewhat confident that the memecoin will continue to gain value in the future. In truth, we are living in one of the most exciting times for cryptocurrencies, with the change in the U.S. Presidential cabinet in January promising to really shape things up in favor of digital assets.
As for Pepe — the memecoin is one of the month’s highest earners with a 161% increase since early November. Currently trident at $0.00002004, Pepe is just below its record-high of $0.00002339 on November 15th.
If the market experiences new periods of excitement over the next few months, particularly around the time Trump takes office and SEC Chair Gary Gensler steps down — PEPE could aim to retest this ATH zone.
As a new currency less than 2-years old, analyzing the historical price movements of Pepe might seem fruitless. However, the memecoin has proved in the past that its volatility can be extremely profitable during favorable times. The enthusiasm around PEPE, combined with the current bullish trends in the market, signals strong potential for further gains.
