PEPE Coin the Next Altcoin to Explode thi Altcoin Season?

The crypto market continued its rapid expansion, as several altcoins set new all time high prices. Among them, the meme coin PEPE coin has attracted attention after the listing of large exchanges and rising whale transactions.

After the strong rallies of altcoins like XRP and TRX, many are thinking that PEPE might be the next altcoin to explode.

PEPE Coin Recent Surge and Whale Activity

PEPE has shown impressive growth recently, marking a new all-time high. This surge came after multiple major exchange listings and increasing hype within the meme coin community. The meme coin is also garnering significant attention from whales, large investors who also have a massive influence on the price movement of crypto assets. The recent listing was that Binance announced on December 4.

In the recent past, a single whale has withdrawn nearly $7 million worth of PEPE from Binance, according to blockchain data from Lookonchain. Suggesting that the sell-off pressure is reducing.

PEPE is trading at $0.00002135 in the past 24 hours with a 4% price surge.

Increased Adoption and Market Sentiment

One of the indications that PEPE coin could be preparing to emerge and move to the next level could be the growing number of wallets holding the token.

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Using Etherscan statistics, the demand for PEPE has attracted new market investment as the holder base increases to a total of 334,000 wallet addresses. This increased number of holders means that retail and institutional investors are now taking PEPE coin seriously as a meme coin.

Also, PEPE was integrated into Coinbase Prime custody and its listing on platforms like Coinbase and Robinhood has boosted the credibility of the coin. These listings increase PEPE’s liquidity as it becomes reachable by more investors as well as increasing its ability to attract new potential buyers.

The Altseason and PEPE Coin’s Position in the Market

The cryptocurrency market is currently in the middle of altseason where capital flows out of BTC and into other coins. Ever since Bitcoin stopped growing and even moved sideways, most altcoins have started gaining investors’ interest.

XRP, for example, saw a massive rally, surging by more than 400% in the month of November. Tron (TRX) has also experienced significant growth, recently pushing past its previous all-time highs with a 70% increase in value.

For instance, XRP rose more than 420%, touching a seven-year high in a month. Tron (TRX) has also gained more than 70% to surpass past all-time high price point levels.

PEPE is also part of other meme coins that surged in price following the recent U.S. presidential election. With increasing attention from both whales and smaller investors alike, PEPE appears to be riding the wave of capital shifting toward altcoins. However, the altcoin season may not unfold as easily as in the past.

CryptoQuant’s Insights on the Altseason

CryptoQuant’s CEO, Ki Young Ju, has warned that this altseason might not play out as many traders expect. According to him, while sentiment in the market is strong, there is no new liquidity entering the market, which could pose a challenge for most altcoins under typical growth conditions. During this period, only a few cryptocurrencies are likely to gain significantly.

The altcoin market is facing challenges, as the correlation between Bitcoin and other altcoins that previously helped drive their growth is weakening. The lack of new liquidity and a shift towards Bitcoin’s paper-based layer-2 solutions could lead to a fragmented market, where only a few assets stand out.

Despite these challenges, PEPE appears well-positioned to capitalize on the current trend. With strong whale activity and increasing adoption, the meme coin could be one of the chosen assets that experience further growth, potentially mirroring the success of altcoins like XRP and TRX.