PRESS RELEASE. The world of meme coins has been dominated by Pepe (PEPE) for quite some time. However, a new contender, Mpeppe (MPEPE), is rapidly gaining traction, posing a significant challenge to Pepe (PEPE)’s supremacy. As Mpeppe (MPEPE) continues to attract a growing number of investors, the question arises: is this the end of the […]
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PEPE Bullish Signal: Whale Withdraws $14.7 Million Stack From Binance
On-chain data shows a PEPE whale has withdrawn a large amount of the memecoin from Binance today, a sign that could be bullish for its price.
PEPE Whale Has Made A Large Outflow From Binance In The Past Day
According to data from the cryptocurrency transaction tracker service Whale Alert, a massive Pepe transaction has been spotted on the blockchain during the last 24 hours.
The transfer involved the movement of 1,286,733,285,955 tokens on the network, worth more than .7 million when the transaction went through.
Given this large scale, it’s likely that a whale entity was responsible for the move. Whales are humongous investors who carry large amounts in their wallets. As they can make huge single-transaction movements like this latest one, they are considered influential beings on the market.
Therefore, their moves can be worth keeping an eye on, as they may have implications for the price. Generally, though, it’s hard to say how exactly a move might reflect on the market, but sometimes, the addresses involved can provide some hints.
Below are the address details for the latest Pepe whale transaction.
As is visible, the sending address for this PEPE transaction was one attached to the cryptocurrency exchange Binance. Conversely, the receiver wasn’t affiliated with any centralized platform, suggesting that it was likely an investor’s self-custodial wallet.
Transfers that move from exchanges to personal addresses are called “exchange outflows.” Generally, investors make outflows from these platforms when they plan to hold in the long term, so these transfers can potentially carry bullish benefits for the cryptocurrency.
The whale may have made this latest transfer out of Binance for a similar purpose. It could also be that these coins were just freshly purchased by this large investor, thus making a move even more positive for the memecoin.
However, there also exists a bearish scenario where the whale has taken out their PEPE stack to sell through an over-the-counter (OTC) desk instead. As it’s impossible to say with any certainty which of these scenarios this transaction follows, it only remains to be seen what effects this transfer ends up having on the coin’s price, if any.
PEPE Price
Pepe had recently recovered towards the .0000121 level, but the asset has since seen a plunge of almost 5% as its price is now back at around .0000115. The chart below shows what the memecoin’s performance has looked like over the last few days.
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The crypto market is heating up in July – and meme coins are leading the way. Let’s examine the prospects of Pepe, Brett, and PlayDoge, three joke tokens that might be set for big things this month. July Could Be Make or Break Month for PEPE First up is Pepe (PEPE). The token has been […]
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This New Layer-2 Meme Coin Has Raised Over $1.5M in Just 15 Days – Could Pepe Unchained Explode?
Pepe Unchained (PEPU) is the latest meme coin to catch the attention of retail traders. PEPU’s creators aim to develop their own layer-2 network targeted at joke tokens. And with over .5 million in presale funding raised in just 15 days, the appetite for this ambitious project is strong. Pepe Unchained’s Ambitious Layer-2 Network for […]
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Pepe-Inspired Smidge Token Pumps Over 150% in 24 Hours – Could Pepe Unchained Explode Next?
Pepe-themed meme coin Smidge is exploding today with its price up over 150% in the last 24 hours. Meanwhile, a Pepe-focused layer 2 cryptocurrency, Pepe Unchained, is turning heads after raising almost M through the first week of its presale. Let’s dive into these two meme coins and see what’s behind their rapid rises. Smidge […]
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Could this be the Next Breakout Meme Coin? Pepe Unchained Presale Begins with a Bang
Forget the old meme coins: a new frog-themed token is turning heads. Pepe Unchained (PEPU) has burst onto the scene this week with its presale, raising 0k and promising to be more than just another speculative crypto asset. This layer-2 solution aims to solve some of the key issues plaguing the meme coin space – […]
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PEPE Has 80% Of Holders In Profit: How It Compares To DOGE & BTC
On-chain data shows the memecoin Pepe currently has 80% of its holders in profit. Here’s how Dogecoin, Bitcoin, and other top coins compare.
PEPE Is Among The Coins With The Highest Profitability Ratio Right Now
In a new post on X, the market intelligence platform IntoTheBlock has shared a chart that shows how the various top cryptocurrencies compare against each other regarding the percentage of holders carrying a net unrealized profit currently.
The analytics firm has determined these percentages using on-chain data; the transaction history of each address on a given network can reveal at what price it received and how many coins it received, based on which an average cost basis can be calculated.
Naturally, the addresses or holders with this cost basis below the current spot price are in the green. They would contribute towards the holders in profit metric for the blockchain.
Now, here is the chart posted by IntoTheBlock, which shows how this metric is looking at the moment for various assets in the sector:
As is visible above, Bitcoin (BTC) currently has the highest profitability ratio among the top coins, with more than 89% of its holders carrying gains. Ethereum (ETH), the second largest cryptocurrency by market cap, is also second on this list, with over 83% of the addresses in the green.
The gap between these two isn’t much right now, and the analytics firm thinks the Ethereum spot exchange-traded funds (ETFs) could push the asset to reach new highs.
The third cryptocurrency on the list is Tron (TRX), with around 82% of investors in profit. Interestingly, two memecoins make up for the rest of the top 5, but none are Dogecoin (DOGE), the original and largest meme-based token.
The two memecoins in question are Pepe (PEPE) and Floki (FLOKI), with around 80% and 77% holders above water, respectively. DOGE is further down the list, with the metric at 75%.
IntoTheBlock notes that this indicator data implies profitability is currently skewed towards large-caps and memecoins, with other altcoins waiting for breakthroughs.
Now, what’s the significance behind holders in profit for any cryptocurrency? Generally, the investors holding gains are more likely to sell their coins. As such, the probability of a mass selloff increases as more holders come into profits.
Because of this, corrections can become more probable when the percentage of addresses in the green increases. In this view, the top coins with lower profitability, like Dogecoin or Pepe, may have more room to run before hitting a wall than an asset like Bitcoin.
PEPE Price
Pepe is trading around .00001126 at the time of writing, down more than 8% in the last seven days.
BitMEX Co-founder Backs Meme Coins: A Boon For Dogecoin, Shiba Inu, PEPE?
Meme coins, the once-dismissed “joke” tokens, are rapidly solidifying their position in the multi-trillion-dollar scene.
According to CoinMarketCap, meme coins now command a cumulative market cap of over billion. Interestingly, they are on an upward trajectory as thousands of meme coins are minted predominantly on top platforms like Solana, Ethereum, and Base.
Analysts and investors are taking notice as meme coins like BOME, PEPE, and Dogecoin boom. Most predict this subset of crypto will expand and become a core part of the industry in the coming years.
Arthur Hayes Backs Meme Coins
In a recent interview, Arthur Hayes, the BitMEX co-founder, joined the growing list of meme coin supporters. Hayes backed meme coins, stating that these tokens are increasingly gaining traction because of their simplicity.
Unlike complex decentralized finance (DeFi) protocols or AI, they require no technical knowledge. Therefore, this feature and accessibility continue to broaden their appeal.
This position also seems to resonate with Raoul Pal, who, in the same interview, added that meme coins are rising because of the cultural connection these tokens tag. As constructed, meme coins are meant to ride on internet hype and cultural relevance.
Therefore, their playful nature and relatable themes resonate with a global audience. In turn, this helps forge a strong connection with the trend, as evidenced by the popularity of the viral BODEN meme coin.
More analysts are coming out to back these tokens. Earlier, one analyst said at least three of these tokens would each command at least 0 billion in market cap in the next crypto bull run.
Dogecoin is the most valuable meme coin, with a market cap exceeding billion. If Dogecoin, for example, rallies to command a 0 billion market cap, DOGE holders will massively benefit.
As of mid-June, only Bitcoin, Ethereum, and USDT, a stablecoin, have market caps exceeding 0 billion. Despite its sharp expansion, even Solana is still perched at fourth, boasting a slightly over billion market cap.
Aptos To Take Over From Solana: A Meme Coin Host
While Hayes backed meme coins, he predicted that Aptos would flip Solana to become the second largest and most active layer-1 platform after Ethereum within three years. Interestingly, this clashes with the current trend and Hayes’ position.
Because of Solana’s high scalability and low fees, the platform is emerging as a home of meme coins, taking over from Ethereum. Even so, Hayes didn’t provide any explanation, saying all details will be made public in September.
Earlier on, the BitMEX co-founder downplayed the threat posed by Solana on Ethereum’s lead. In his view, the first smart contracts platform has strength in its developer community and anchors decentralized finance (DeFi).
What are PolitiFi Tokens? Are they better investments than PEPE, DOGE and SHIB?
The cryptocurrency landscape has continually evolved, with new niches and innovative tokens emerging to cater to specific interests and communities. One such niche gaining traction is the PolitiFi token sector, which blends political engagement with the dynamic world of crypto. Among these tokens, MAGA VP ($MVP) stands out, capturing the interest of both political enthusiasts and crypto investors.
Understanding PolitiFi Tokens
PolitiFi tokens are designed to integrate political themes and movements into the cryptocurrency ecosystem, offering unique opportunities for engagement and investment. These tokens often align with specific political ideologies or figures, creating a community-driven platform that supports political campaigns, movements, and causes.
Beyond Hype: Real-World Utilities and Engagement
While some might view PolitiFi tokens as just another trend, they offer more than just hype. They provide tangible utilities and foster deeper political engagement through various innovative features:
- Donation Mechanisms: PolitiFi tokens can directly support political campaigns. For instance, tokens like MAGA VP facilitate donations to the Trump campaign, linking political support with financial contributions.
- Voting Applications: MAGA VP has developed a Voting DApp, allowing token holders to participate in selecting Trump’s Vice Presidential pick. This not only engages the community in the political process but also rewards participants, fostering a sense of involvement and incentivizing engagement.
The Unique Appeal of PolitiFi Tokens
PolitiFi tokens represent a genuine movement and support base, distinguishing themselves from tokens that primarily gain traction through hype and memes:
- Community Engagement: The deep attachment to the political cause ensures a highly engaged and active community. This engagement goes beyond financial speculation, as members feel part of a larger movement, driving real-world political action and support.
- Long-Term Vision: PolitiFi tokens often embody a long-term narrative, aligning with broader political goals and timelines. For example, the MAGA VP token is designed to support the MAGA movement over the long term, with plans for continuous engagement and utility expansion.
PEPE Shows Persistent Bullish Strength As Market Optimism Grows
PEPE has been on a remarkable upward trajectory, showcasing significant bullish momentum that has caught the attention of traders and investors alike. This sustained uptrend suggests strong market confidence and growing optimism about the prospects of PEPE.
As the cryptocurrency continues to climb, market analysts are closely monitoring key indicators and trends to gauge how long this bullish phase might last and what potential heights PEPE could reach. In this analysis, we will dive into PEPE’s price prospects with the help of some technical indicators.
As of the time of writing, PEPE’s price was trading at around .00001531 and was up by 3.33% with a market capitalization of over .3 billion and a 24-hour trading volume of over .5 billion. Its market capitalization and trading volume are down by 3.51% and 26.3% respectively in the last 24 hours.
Technical View Of PEPE Price With Indicators
From the 4-hour time frame, the price of PEPE is still actively trading below the 100-day Simple Moving Average (SMA), which is a clear indication that it might be poised for a more bullish movement.
The 4-hour Moving Average Convergence Divergence (MACD) also signals that PEPE might move bullishly as the MACD histograms show signs of moving above the MACD zero line. In addition, although the MACD line and the MACD signal line are trending below the zero line, the MACD signal line is seen attempting to cross above the MACD line, suggesting that the price of PEPE might still move upward.
In the 1-day time frame, it can be observed that PEPE, after making a pullback is showing signs of undergoing a rally as it is dropping a daily bullish candlestick.
Although the 1-day MACD is giving a bearish signal as the MACD histograms have dropped below the MACD zero line and both the MACD line and the MACD signal line have crossed while still above the zero line, there is the possibility that the development might turn bullish again based on the price action in the 4-hour timeframe.
Future Prospects For The Meme Coin
Based on the previous price action of PEPE, it can be observed that a high of .00001731 and lows of .00001313, .00001152, and .00000888 have been created which are key points in determining its next destination.
If PEPE continues to move upward to the resistance level of .0001731 and breaks above it, it therefore means that it will move higher to create a new high.
However, if it fails to break above this resistance level, it will begin a downward move toward the .00001313 support level. Should the price break below this support level, it might move even further to test the .00001152 level and probably other levels on the chart.