7,143,024,728,061 Pepe Price Skyrockets in minutes

Frog themed Meme Coin Pepe (Pepe) has attracted market attention, seeing a price rise of 42% over the past 24 hours.

A massive 7.14 trillion Pepe, nearly $78.8 million, was transferred between unknown wallets within minutes, according to Blockchain’s Data Tracker Whale Alert.

The Whale Alert recently reported that “7,143,024,728,061 Pepe (78,827,992 USD) has been transferred from an unknown wallet to an unknown wallet.”

The origin and destination of the Pepe token remains unknown, but the size of the transaction is spurring speculation. A whale movement of this scale could indicate accumulation, wallet reshuffling, or over-store (OTC) transactions that take place outside of cryptocurrency exchanges. However, as Pepe’s prices skyrocket, sentiment seems bullish now.

Pepe’s explosive price profits came even within the broader crypto market rally, which was settled in a short bet of over $800 million within 24 hours.

According to Coinglas, the $837 million short position has been wiped out in the Crypto Derivatives market in the last 24 hours, marking its biggest short liquidation since 2021.

Pepe Sky Rocket

Bitcoin has lifted the entire crypto market high above $104,000. Similarly, Pepe gained momentum and expanded its price surge to its last seen high at the start of February.

Pepe began rebounding on May 6th from its lowest price of $0.0000759. The rally gained momentum as prices surged during Thursday’s session.

Strong buying pressure was also revealed in the session early Friday, with Pepe prices surged to $0.00001397, effectively removing zero from Pepe prices.

At press time, Pepe rose 44% to $0.00001328 over the past 24 hours, up 52% ​​per week. With today closing on the green, we mark Pepe’s fourth consecutive day of profit since May 6th.

In addition to price increases, Pepe’s trading volume has risen 368% over the past 24 hours to $3.57 billion, according to CoinmarketCap data.