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Whales can drive the price action of any crypto at any time. It's a power they're not necessarily proud of, but they possess it. This follows PEPE which saw a 50% increase in the last 7 days. It has been attributed to whales that accumulate large numbers of coins. What makes it more interesting is the fact that they did it in 2 weeks. Placed 34th on the table in terms of market capitalization. The PEPE now aims to maintain this momentum for a little longer.
A jump in the PEPE, the whales take the credit
The jump is down slightly to 49.64% over the last 7 days at the time of writing. However, just moments ago it was over 50%, which is a testament to what the whales have done in 2 weeks. They reportedly accumulated over 3.3 trillion tokens in just 14 days, worth $24.3 million at the time. The current valuation can be roughly translated into the listed value of $0.000007698.
Whales now hold approximately 46.96 trillion PEPE coins. Analysts estimate that the price could increase to make 92 trillion PEPE tokens profitable. Thus strengthening a rally that investors were waiting for. An initial resistance line was set at $0.00000890 to continue looking for a dance around $0.00001.
For now, we can only assume that PEPE has escaped the downward trend around its token value. The community may still want to wait until the meme coin does not lose support at $0.00000633, which would practically invalidate the bullish thesis.
What’s next for the meme coin segment?
A potential revolution by other meme coins is about to happen. DOGE is certainly entertaining the community with a minute-long animated video in which Elon Musk can be seen offering users the option of crypto payments to Tesla and X. Needless to say, it was made by a community member without official approval at the site level. time of going to press.
One of the meme coins emerging from the shells is MAGA VP, also known as MVP. It can be seen that the PolitiFi meme coin is gaining recognition for its tokenomics. It specifically allocated 0% for transfer tax and 2% for buy/sell tax which is used to support the value of the token. MAGA VP is listed at $0.1426 with a decline of 3.94%; however, there has been a massive increase of 112.98% in the last 7 days. This comes on top of a 9.91% increase in 24-hour volume.
SHIB ideally remains the second best candidate to enter the top ten global cryptocurrencies. It bounced back to $0.00002579 with a 3.51% jump at the articulation of this coin.
Whale-backed PEPE coin is seeing a sharp rise of over 50% in the last 7 days. This cannot be confused with the community failing to lead the ecosystem. Therefore, thorough research is highly recommended before allocating funds to any crypto coin or meme, to be more precise.
Buy MAGA Vice President NOW!
Disclaimer: The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered investment advice. Always do your own research before deciding to buy, sell or transfer crypto assets. Past returns do not always guarantee future profits.
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