PEPE explodes 20% daily to a new all-time high

TL:DR;

PEPE has resumed its bullish rally that began at the beginning of November, rising 20% ​​in the last 24 hours to mark a new peak of over $0.000026. This comes after recent reports of whales amassing substantial portions of the third largest meme currency.

CryptoPotato reported on November 13th the impressive increase in PEPE that pushed the asset north by 100% within a week and 50% daily at the time. This was due to some listings on major exchanges like Coinbase and Robinhood.

In the following weeks, PEPE, along with many other meme coins, calmed down and recovered up to 25%. However, this did not deter investors.

On the contrary, data from the chain showed that whales continued to accumulate the asset with several large purchases in a few days. These acquisitions generally precede price increases in the underlying asset due to a decrease in available supply.

In fact, this increase came just days after we reported on the whale purchases. In the last 24 hours alone, PEPE went on the offensive strongly, rising 20% ​​and surpassing its all-time high of November 13th. The last peak was a few minutes ago at $0.00002622, according to data from CoinGecko.

Thus, PEPE has consolidated its position as the third largest meme currency. It has also risen to the 23rd position overall among all cryptocurrencies, with a market capitalization of over $11 billion.

The ever-loud PEPE community was quick to celebrate the move and some even predicted a bigger increase that could help it overtake SHIB to become the second biggest in its realm.

$PEPE JUST UP NEW ALL TIME HIGH!!!!!
WE ARE DISCOVERING PRICES

I $PEPE HE’S ABOUT TO COME BACK $SHIB!!!!! https://t.co/HxKYd1Zcps pic.twitter.com/j7qZPsm4t7

— Crypto Bratan (@cryptobratan1) December 7, 2024

SHIB’s current market cap is $19 billion, which means PEPE is around $8 billion. While that seems like a substantial difference, this bull cycle has marked numerous mind-blowing rallies, so anything is possible these days.

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