The meme coin Pepe (PEPE) is experiencing a phenomenal surge, climbing a whopping 58% in the past 24 hours. This rally is being driven by a confluence of factors, including whale accumulation and the highly anticipated listings on major exchanges like Coinbase and Robinhood.
Onchain data reveals that whales are actively scooping up Pepe tokens. Notably, one whale withdrew 197.39 billion PEPE (worth $4.8 million) from Binance following the Coinbase and Robinhood listings. Another wallet amassed a staggering 751.59 billion PEPE ($17.89 million). This massive buying pressure from institutional investors is a significant indicator of the growing confidence in Pepe’s potential.
Pepe has significantly outperformed its rivals Dogecoin (DOGE) and Shiba Inu (SHIB) this week, solidifying its position as the leading meme coin. Traders are buzzing with optimism, with some experts predicting that Pepe could reach the “SHIB/DOGE 2021 levels.” This suggests a potential 5-10x gain from current levels, potentially leading to a “generational top.”
The Robinhood listing is particularly noteworthy due to its reach extending beyond crypto-focused platforms. One trader observed, “Coinbase is just crypto, Robinhood is basically every dude under 40 in America.” This highlights the potential for mass adoption and exposure to Pepe that Robinhood brings, setting the stage for a significant influx of new investors.
The hype surrounding Pepe is reminiscent of Shiba Inu’s journey following its Coinbase listing. Analysts are drawing parallels, suggesting that Pepe could replicate Shiba Inu’s trajectory and potentially achieve a $50 billion market cap. The excitement is palpable, with many investors echoing the sentiment, “Why didn’t I buy it?”
Beyond the trading activity, Pepe is attracting a growing community. The meme coin has added 1,787 new holders in just a day, demonstrating the growing interest and adoption. Its daily trading volume has surpassed $18 billion, even eclipsing Solana in the process.
With single-day gains of around 58% and increasing volume, Pepe is currently leading the meme coin market. The recent announcement of Upbit Korea’s support for Pepe trading, effective November 14, further solidifies its growing global reach and potential for sustained growth.
The future of Pepe remains uncertain, but the current trajectory suggests that it is poised for a strong run. The combination of whale accumulation, exchange listings, and community enthusiasm creates a potent mix that could propel Pepe to new heights.
