According to CoinMarketCap, Pepe Coin (PEPE) has made an impressive gain of 16% today, surpassing other popular meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB).
This upward momentum can be attributed to a significant whale transfer involving PEPE tokens. The recent surge in price has sparked curiosity among investors, prompting the question: how many tokens would it take to become a PEPE millionaire?
As PEPE is valued at $0.000001426 at the time of press, which means owning $1.426 can make someone a PEPE millionaire, with $1 equivalent to 701,262.27 PEPE.
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The Notable Whale Transfer
As reported by Lookonchain, a whale in the Pepe Coin market recently initiated a substantial withdrawal of 2 trillion PEPE tokens from Binance. This transfer alone amounts to an estimated value of approximately $3 million.
This particular whale has made headlines before with similar transactions. In the past, they withdrew 3.94 trillion PEPE tokens, equivalent to $6.46 million, on two separate occasions: June 27 and July 5. Interestingly, on July 14, the whale also deposited 3.94 trillion PEPE tokens, valued at $7.06 million at that time, resulting in a profit of approximately $600,000.
A whale withdrew 2T $PEPE ($3M) from #Binance 30 mins ago.
The whale withdrew 3.94T $PEPE ($6.46M at that time) from #Binance on Jun 27 and Jul 5.
Then deposited 3.94T $PEPE ($7.06M at that time) to #Binance on Jul 14, the profit is ~$600K.https://t.co/lcyPKweum9 pic.twitter.com/KOYeFhdhHz
— Lookonchain (@lookonchain) July 23, 2023
The recent withdrawal by the Pepe Whale suggests a sense of confidence in the long-term prospects of Pepe Coin. This move could potentially influence other investors, leading to an increase in demand for PEPE tokens and subsequently driving up its price. Investors might be rushing to secure their positions in anticipation of an imminent price surge.
Read Also: Purchasing PepeCoin (PEPE) Made Simple in 2023: Details
Outlook for Pepe Coin
It remains uncertain how much higher PEPE would rise. However, the actions of the notable whale indicate a bullish sentiment surrounding the token.
If the bullish trend continues, it is possible that Pepe Coin could reach a new all-time high in the near future. Investors will be closely monitoring the market to gauge whether the price surge will extend beyond its current gains.
As the market unfolds, investors will eagerly await further developments in their quest to join the ranks of PEPE millionaires.
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