"Meme Coin Pepe (PEPE) Drops 6%... Rebound Hopes Amid Increased Whale Accumulation"
Summary
- Meme coin Pepe (PEPE) reportedly dropped about 6% in 24 hours.
- According to blockchain analytics firm Nansen, whale wallets now hold 70% of Pepe's total circulating supply, an increase of about 5% over the past month.
- While there is potential for a short-term rebound due to some buying interest, overall market volatility may remain high amid general instability.
Meme coin Pepe (PEPE) has fallen by about 6% over the past 24 hours, while recent observations indicate that large holders are actually increasing their purchases.
On the 4th (local time), cryptocurrency media outlet CoinDesk reported, "As uncertainty rises ahead of the implementation of tariffs by Trump, Pepe coin failed to break through the $0.0000106 resistance line and has shown weakness," but added, "Whale wallets continue to accumulate Pepe." According to blockchain analytics firm Nansen, the amount of Pepe (PEPE) held by whale wallets is estimated at $30 billion, accounting for about 70% of the total circulating supply. This represents an increase of about 5% in whale holdings over the past month. During the same period, the amount of Pepe held on major exchanges dropped to the lowest level in two years (approximately 24.72 trillion coins).
The outlet added that "PEPE has potential for a short-term rebound as some buying interest flows in," but also noted that "there is a possibility that market volatility will remain high amid overall market instability."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![Did it crash because of Trump?…The 'real reason' Bitcoin collapsed [Hankyung Koala]](https://media.bloomingbit.io/PROD/news/d8b4373a-6d9d-4fb9-8249-c3c80bbf2388.webp?w=250)
