The frog-themed cryptocurrency PEPE, which records the money flowing into whale addresses, has had an astounding 4,479% increase in large holder inflows, according to IntoTheBlock.
Whale inflows might be a sign of confidence among major cryptocurrency investors and a bullish sign for the market. This confidence seems to have sparked a wave of inflows into PEPE, pushing its prices to all-time highs.
A 506 billion influx to Robinhood was recorded by Whale Alert in one such whale movement: “506,817,430,776 PEPE worth $11,405,224 transferred from Wintermute to Robinhood.”
This week, Robinhood listed PEPE, thus the move may be a sign of institutional buying.
PEPE hits all-time high
From its low of about $0.0000078 on November 5 to its record high of $0.0000258 on November 14, PEPE has increased by over 250%. PEPE has been in the green for nine of the eleven days since November 5.
PEPE fell after the price ran into opposition at its highest point ever, $0.0000258. After increasing 97% during the last seven days, PEPE is presently down 1.16% over the past day to $0.0000214.
The price of PEPE, which just soared to an all-time high of $0.0000258, will be the focus of attention in the days ahead. PEPE’s next objectives are $0.00003 and $0.00004. If there is a decline, support is anticipated at $0.000018.
PEPE scores new listings
PEPE’s success coincides with the meme coin’s listing on major cryptocurrency exchanges this week. Users in the United States may now trade Pepe alongside cryptocurrencies Solana, Cardano, and XRP, according to a Nov. 13 announcement from Robinhood Crypto.
The announcement by Coinbase that PEPE will be listed on its platform came shortly after Robinhood’s. By trading volume, Coinbase is the biggest cryptocurrency exchange in the US and the third-largest exchange worldwide, thus PEPE should benefit even more from a listing there.
On November 16, the biggest cryptocurrency exchange in South Korea, Upbit, also permitted trading of PEPE trading pairs.
