Pepe Coin (PEPE) Price Fluctuations Affected by Whale Transactions

Bittime - The crypto world is once again marked by significant price spikes and drops in the popular meme coin, Pepe Coin (PEPE). Although the value of Pepe Coin is currently at $0.000008 (IDR 0.120) and has decreased by 6.52% in the past day with a total trading volume of $592,502,001 (IDR 8.9 trillion).

However, in the past week the coin has actually increased by 26.62%. This price fluctuation made Pepe Coin's market capitalization drop to $3.32 billion (Rp 49.8 trillion).

PEPE Major Transactions

Citing the latest data from various leading crypto sources such as CoinDesk, CoinMarketCap, and CoinGecko, there are currently 420.69 trillion Pepe Coins in circulation with the maximum supply capped at 420.69 trillion coins. However, what attracts attention is the existence of large Pepe Coin transactions worth around $21 million (Rp 315 billion) involving large volumes of coins.

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Whale Transactions

The first transaction recorded the movement of 1,238,332,920,144 Pepe Coin worth about $10.5 million (Rp 157.5 billion) at the time from an unknown wallet to the leading crypto exchange Binance. The movement of funds to exchanges like this is often considered a sign of potential selling pressure.

Not long after, a second transaction took place in which an amount of 1,241,850,000,000 Pepe Coin equivalent to the previous amount flowed out of Binance towards an unknown wallet. Outflows like these are generally viewed as positive indicators, suggesting that investors are choosing to move their assets to personal wallets for long-term investment purposes.

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PEPE Price Today

As of writing on 10/05/2024, PEPE memecoin is trading at IDR 0.1390 per token. PEPE's price performance has increased by 6.84% in the last 24 hours. The daily low price of PEPE was at the level of Rp0.1278 per token and the daily highest price reached Rp0.1413 per token as data from Bittime.

Kapitalisasi Pasar PEPE Turun

Kapitalisasi pasar Pepe Coin mengalami penurunan 6,46%, sementara volume perdagangan merosot 32,73%, mengisyaratkan sentimen bearish yang semakin menguat di kalangan trader. Namun, mengutip analis dari Decrypt, penurunan harga ini dianggap sebagai "koreksi yang sehat" setelah kenaikan pesat beberapa waktu terakhir. 

"Pepe Coin masih berada dalam tren positif jangka menengah dan jangka panjang, didorong oleh adopsi yang terus meningkat dan perkembangan teknologi di balik koin ini," ungkap analis tersebut.

Kesimpulan

Thus, Pepe Coin investors and traders are encouraged to constantly monitor price movements and follow the latest developments of the project. Given the high volatility in the crypto market, caution and in-depth analysis remain key in taking informed investment decisions.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the Complete Guide on How to Buy Crypto on Bittime.

Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Pepe (PEPE): Will This Meme Coin Moonbag and Reach ATH

Pantera Capital Raises Big Funds for Blockchain TON Telegram

Polkadot (DOT) Price Prediction After Decline: Will It Reach $10?

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.