What You Should Know About Smart Money’s Shuffle Pepe Coin Addresses
A few on-chain analytics systems have made data available, indicating 250.40 billion PEPE exchanged in the last day alone. Interestingly, these transfers demonstrated savvy money traders’ accumulations and subsequent dumping of Pepe coins on the market. Reports indicated that 0x37, an intelligent money address, had been collecting 406.74 million PEPE from Binance, one of the top exchanges globally.
Conversely, a staggering 250 billion PEPE were offloaded to the same exchange by another smart money address, 0x647. Notably, just one day after the coin’s debut, the address 0x647 began to accumulate significant amounts of PEPE. To date, the address has sold 468 billion PEPE with a 2084x ROI after recording an accumulation of 475 billion PEPE with 0.51 ETH.
Interestingly, the investor still holds significant sums of PEPE valued at 7.25 billion coins in this address, suggesting anticipation of further price increases. On the other hand, acquiring PEPE during its bull run, 0x37’s actions increase confidence in future profits for savvy traders. Therefore, the movements of these intelligent money addresses provide valuable insights into market trends and investor confidence. Overall, these strategic trades highlight the dynamic nature of the cryptocurrency market and its potential for high returns.
PEPE’s Value Soars to All-Time High
As of this writing, the price of PEPE has increased by 19.68% over the last day to $0.00001005. The 24-hour high is $0.00001028, and the low is $0.00000831. The meme coin has exceptionally accomplished by removing a zero from its value. Still, questions about whether it can maintain this level need to be answered.
The recent surge in PEPE purchases has put much buying pressure on the meme token with a frog motif. However, the coin’s 24-hour trading volume surged to $2.11 billion, a 280.38% increase, putting the token in a positive state.
This optimism was reinforced by Coinglass data, which indicated a possible market uptrend scenario for Pepe currency. Open interest increased by 14.92% to $107.51 million, while the derivatives volume increased by 235.45% to $2.12 billion. At the time of publication, the data presented a positive picture of PEPE, despite rumors of an impending correction, mainly related to the RSI’s persistently high 70. They indicated that there may be an impending reversal or downturn and that the asset was overbought.
