Pepe Price Soars 25% as Whales Return with Strong Demand
Pepe's price has surged by 25% this week, including a combined 22% advance over the previous two days. The surge in demand is led by whales, with seven transactions worth more than $1 million each occurring on Thursday, the highest number since March 16.
The increase in high-value transfers indicates renewed activity among large investors, and changes in wallet balances suggest that major holders are accumulating tokens while the amount of Pepe available on exchanges declines. The supply of PEPE held on cryptocurrency exchanges has fallen by 1.45 trillion tokens from August 12, reducing the amount immediately available for trading.
Meanwhile, leading non-exchange addresses have increased their combined holdings to 84.04 trillion PEPE, representing an increase of 3.54 trillion tokens over the same period. This reinforces signs of fresh demand from large-wallet investors and suggests that influential holders expect a recovery.