After XRP and TRX, Is PEPE the Next Altcoin to Explode in Price?

TL:DR;

Several altcoins have emerged in recent weeks to post massive double- and even triple-digit gains at some point. Will PEPE be next? Some whale activities suggest so.

Rally of the Heights

The current crypto environment calls out for another season. It all started after Donald Trump’s decisive victory in the US presidential election when DOGE, along with BTC, soared to new multi-year highs, perhaps due to the asset’s affiliation with Elon Musk.

Since then, bitcoin has stagnated and is in consolidation mode, while DOGE has calmed down. However, many other altcoins have started to appear frequently. XRP was at the forefront of these rallies, rising more than 420% in one month, hitting a 7-year high and becoming the third largest cryptocurrency by market cap.

The last 24 hours have seen the rise of two other shining stars: Tron and Binance Coin. Both have blown their previous ATHs, especially the first one. TRX soared more than 70% and jumped above $0.43 to mark a new peak.

Other notable contenders include XLM, HBAR, DOT and AVAX. Now, the community has started speculating about which altcoin will be next.

Is PEPE next?

The third largest meme coin also increased in value after Trump’s victory, hitting a new all-time high on November 14 at $0.00002457 (CoinGecko data). This came after numerous listings on major exchanges and growing hype in the community.

Similar to DOGE, however, it rallied in the following weeks and is now below $0.000021, or 15% from its high last month. It has remained somewhat on the sidelines, focusing on many of the aforementioned assets.

However, some big investors, known as whales, seem to be turning their attention to it, which could suggest a new rally. Lookonchain data shows that a single whale had accumulated and withdrawn nearly $7 million in PEPE over the past 20 days. Such large purchases and withdrawals often precede price increases due to decreased available supply and immediate selling pressure.

The whales continue to accumulate $PEPE!

One whale withdrew 337.09B $PEPE($6.92 million) from #Binance in the last 20 days.https://t.co/65vbIQd2dd pic.twitter.com/79NauAQt8V

— Lookonchain (@lookonchain) December 4, 2024

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