Whales can drive the price movement for any crypto at any moment. That is a power they don’t necessarily take pride in, but they do possess it. This comes in the wake of PEPE experiencing a surge of 50% in the last 7 days. It has been credited to whales accumulating the meme coin in a large number. What makes it more interesting is the fact that they did so in 2 weeks. Placed 34th on the table in terms of Market Cap. PEPE now aims to sustain the momentum for a little while longer.
A jump in PEPE, whales take credit
The jump has slightly come down to 49.64% in the last 7 days at the time of writing. Nevertheless, it was more than 50% a few moments ago, depicting what whales did in 2 weeks. They reportedly accumulated more than 3.3 trillion tokens in just 14 days, worth $24.3 million at that time. The current valuation can be roughly translated to the listed value of $0.000007698.
Whales now hold approximately 46.96 trillion PEPE coins with them. Analysts estimate that the price could go higher to make 92 trillion PEPE tokens profitable. Thereby bolstering a rally that investors have been waiting for. An early resistance mark has been set at $0.00000890 to further seek a dance at around $0.00001.
It is only safe to assume for now that PEPE has escaped the descending trend around its token value. The community may still want to wait around for the meme coin to not lose support of $0.00000633, which will practically invalidate the bullish thesis.
What’s next for the meme coin segment?
A potential revolution by other meme coins is on the edge. DOGE is certainly entertaining the community with a 1-minute animated video wherein Elon Musk can be seen serving users with the option of crypto payments to Tesla and X. Needless to say, it has been made by a community member with no official endorsement at the time of press.
One of the meme coins emerging out from the shells is MAGA VP, alternatively known as MVP. The PolitiFi meme coin can be seen gaining a lot of recognition for its tokenomics. It has specifically allocated 0% for Transfer Tax and 2% for buy/sell tax that is used to support the token value. MAGA VP is listed at $0.1426 with a dip of 3.94%; however, there has been a massive surge of 112.98% in the last 7 days. This builds on top of an increase of 9.91% in 24-hour volume.
SHIB ideally remains the next best candidate to enter the top ten ranks of global cryptocurrencies. It is rallying at $0.00002579 with a jump of 3.51% while articulating this piece.
Whale-backed PEPE coin is rallying heavily by a surge of more than 50% in the last 7 days. This cannot be mistaken with the fact that the community fails to drive the ecosystem. Therefore, thorough research is highly recommended before fund allocation to any crypto or meme coin, to be more specific.
Buy MAGA VP now!
Disclaimer: The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets. Past returns do not always guarantee future profits.
