Benzinga - Pepe Coin (CRYPTO: PEPE) is up 6%, outperforming Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in the last 24 hours.
What Happened: At the time of writing, PEPE was trading at $0.000001288, which means owning $1.29 can make someone a PEPE millionaire, with $1 worth of PEPE equivalent to 775,795.19
Dogecoin and Shiba Inu were up 1.18% and 1.64% respectively in the past 24 hours.
The frog-themed meme coin is up nearly 2% in the last seven days. The monthly losses mounted to 15%.
PEPE has garnered attention in the market due to a recent transaction involving a smart money investor. Last week, an investor acquired 677 billion PEPE tokens from Binance at a buying price of $0.000001385, resulting in a transaction worth $901,000 at the current value.
A SmartMoney deposited 500 $ETH ($937K) to #Binance and withdraw 677B $PEPE ($941K) an hour ago, the buying price is $0.000001385.He spent 100 $ETH ($187K) to buy 134B $PEPE on May 1 and withdrew 122B $PEPE ($130K) from #OKX 12 hours before #Binance announced listing $PEPE. pic.twitter.com/rbWlxECAZc
— Lookonchain (@lookonchain) July 27, 2023
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: Data from Santiment shows that major PEPE token holders capitalized on the recent price dip by increasing their holdings. This trend is particularly evident among non-exchange addresses, which saw a significant divergence from the price action of PEPE in the past week.
Read Next: Bitcoin, Ethereum, Dogecoin Spike Amid Microstrategy Plans To Bag More BTC: Analyst Says Meme Coins About To Be Flushed By King Crypto
Photo Courtesy: Shutterstock.com
Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.