The PEPE meme cryptocurrency has reached a new all-time high of $0.00002716, marking it as the first significant meme coin to hit such a milestone during the current bull cycle. This ascent is attributed to a surge in whale activity and strategic accumulation, which have bolstered its bullish momentum.
Crypto analyst Ali Martinez shared insights revealing that PEPE whales recently expanded their holdings by $1.14 billion, raising the whale-controlled amount to $7.56 billion. Such substantial whale activity has driven a bullish weekend surge, propelling PEPE’s market cap beyond $10 billion for the first time. Currently, the market cap stands at approximately $11.17 billion, with whales commanding around 67% of it.
On-chain data suggests that the whale accumulation was not a spontaneous event. IntoTheBlock’s Balance By Holdings In USD metric recorded a 147.81% increase in 30-day holdings among addresses owning over $10 million in PEPE tokens. Notably, a significant $1.14 billion purchase occurred on December 7. Other investor groups have mirrored this trend.
Holdings between $1 million and $10 million jumped by 119%, while addresses with $100,000 to $1 million saw a 108% rise. Mid-tier investors, managing between $10,000 and $100,000, experienced an 84.25% growth in their positions. Smaller holders, with $1,000 to $10,000 in PEPE, boosted their holdings by 55.29%.
Collectively, this broad accumulation pattern has amplified buying pressure on PEPE, enabling a 150% value increase in the past month.
PEPE’s record-setting performance is further fueled by its expanding accessibility via major crypto exchanges. Recent listings on platforms such as Coinbase, Robinhood, and Binance US have significantly heightened its exposure to both retail and institutional investors across the United States. These additions have facilitated broader trading and investment opportunities for the meme-based cryptocurrency.
Such exchange listings have had a profound impact, especially in the current bullish market. As of now, PEPE trades at $0.00002616, translating to a 3.5% gain in the last 24 hours. With ongoing whale and retail investor accumulation, PEPE's bullish trajectory seems poised for further extension.