What happened?
Cryptocurrency “whales” have been accumulating PEPE on the recent price dip, banking on bullish price predictions for this meme coin. In just the past 24 hours, the top 100 PEPE wallets have added a staggering 430 billion PEPE, bringing their weekly inflows to 4.32 trillion. This accumulation is already showing signs of profit, as PEPE has already bounced back 10% from its Monday lows.
Who does this affect?
This affects current and potential investors in the PEPE cryptocurrency, especially large-scale operators known as whales. These moves are also closely aligned with the U.S. macro narrative, with anticipated interest rate cuts sparking a rotation into riskier investments like PEPE. Future interest rate reductions could lead these whales to expect even larger gains.
Why does this matter?
This matters significantly for the cryptocurrency markets. If the bullish sentiment continues, and especially if the forecasted interest rate reductions occur, we could see a surge in higher-risk investments like PEPE. It seems that these whales anticipate such a market response, which could result in considerable gains if their predictions prove accurate.