PEPE Price Spikes 80+% After Whale Purchases 1T+ Tokens

• Lookonchain reported that a whale bought trillions of PEPE yesterday.
• This same whale also performed a losing trade on SHB yesterday.
• At press time, PEPE is worth about $0.000001041 after a price increase of 87.52% over the last 24 hours.

The blockchain tracking page Lookonchain tweeted yesterday that a crypto whale had bought 1.23 trillion Pepe (PEPE) with 250 Ethereum (ETH), worth approximately $476k at the time the purchase was made. The tweet also added that the average buying price for this PEPE purchase was $0.000000366.

The same whale then went and traded SkyHub Coin (SHB) shortly after its PEPE purchase. However, the whale lost approximately 25 ETH, estimated to be worth $79K, in this trade.

Data from CoinMarketCap indicates that things have been going exceptionally well for PEPE over the last 24 hours following the huge purchase by the aforementioned whale. At press time, PEPE is worth about $0.000001041 after a price increase of 87.52% over the last 24 hours alone.

This allowed the meme coin to also strengthen against the market leaders Bitcoin (BTC) and Ethereum (ETH). PEPE outperformed BTC by 98.02% over the last day while it bested ETH by about 99.39% over the same time period. The 24-hour trading volume for PEPE now stands at $339,477,037 after an increase of just under 180% since yesterday.

Some of the other time frames for PEPE are also currently drenched in green today. The meme coin experienced a price increase of more than 2% over the last hour as well. The crypto’s weekly performance, however, takes the cake as PEPE is up around 249.92% over the last seven days.

PEPE’s market cap is estimated to be around $437,894,444. This means that PEPE is now ranked as the 2,613th biggest cryptocurrency in terms of market capitalization.

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