CandleFocus

PEPE continues its rally despite whale selloff

Author: Content Editor
Pepe, a cryptocurrency token inspired by the meme "Pepe the Frog," experienced a substantial sell-off by large holders, but the asset continued to rise in value. Pepe reached an all-time high of $0.000027, marking a nearly 2000% increase since the beginning of the year. The token's market cap exceeded $11.37 billion, with monthly gains of 157%. Despite the sell-off, Pepe recorded a 27.3% price surge over the past week. The token gained popularity after being mentioned as a good investment on Fox News and following its listing on Coinbase and Robinhood. Short-term holders and open interest in Pepe have also increased, reflecting the growing interest. Analysts predict a further rally in Pepe's price as bullish patterns have emerged on its chart. However, there may also be some selling pressure as 97.6% of Pepe holders are now in profit.

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