New Crypto Whale Accumulates $6.45M Worth of PEPE Tokens, Signaling a Potential 25% Rally

A new crypto whale, identified as 0x535, has made waves in the memecoin market by withdrawing an additional 150 billion PEPE tokens (worth $3.14 million) from KuCoin.

A new crypto whale has emerged in the memecoin market, making seven large onchain transactions in the past eight hours. This activity has seen a total of 309.6 billion PEPE tokens, valued at $6.45 million, being withdrawn from KuCoin.

The crypto whale's only other activity was paying 0.085 ETH ($284) in gas fees. Notably, this massive purchase was made at an average price of $0.00002082.

This new wallet was created 13 hours ago and has been withdrawing $PEPE from KuCoin at an average price of $0.00002082.

Track the whale live at https://t.co/W6LBhGQdkj pic.twitter.com/0y2BRvcUIQ

— Spot On Chain (@spotonchain) November 22, 2024

PEPE Price Surges on Exchange Outflow

This development comes as PEPE's price continues to surge, with a 12.56% increase in the past 24 hours. This price movement coincides with a broader trend of over $155 million worth of PEPE flowing from centralized exchanges to onchain wallets this week.

This outflow represents the highest among all Ethereum-based tokens, further highlighting the attention and interest being directed towards PEPE.

Over $155M worth of $PEPE moved from CEXs to onchain wallets this week - the highest outflow for any Ethereum token.

Even after hitting ATH last week, onchain accumulation is still going strong.

It only means one thing:

Show's not over yet anon 🐸 pic.twitter.com/XjceOk0eGT

— Alphanomics 💧 (@Alphanomics_io) November 22, 204

PEPE Breaks Upper Limit of Consolidation Pattern

The memecoin also recently broke through the upper limit of its consolidation pattern, signaling a potential 25% rally. This price movement could give PEPE a chance to hit a new all-time high, despite already peaking last week.

$PEPE Coin is set for a 25% rally after breaking through the upper limit of its consolidation pattern. Could this be another shot at a new all-time high, despite hitting a peak last week?

What do you think? Will PEPE continue to make history in the memecoin world?

— Crypto News (CoinGape) (@CoinGapeMedia) November 21, 2024

This new development in the crypto whale's activity is sure to impact the price of PEPE, especially considering the recent breakout from its consolidation pattern. With strong whale activity and bullish technical indicators, PEPE appears poised for further growth.

As the dust settles, all eyes will be on the next potential rally for the memecoin, aiming to solidify its place in the memecoin hall of fame.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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