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Alts’ Rally
The current crypto environment screams altseason. It all started after Donald Trump’s decisive victory in the US presidential elections, when DOGE, alongside BTC, skyrocketed to new multi-year peaks, perhaps due to the asset’s affiliation with Elon Musk.
Since then, bitcoin has stalled and is in consolidation mode, while DOGE has calmed. However, numerous other altcoins have started to pop up frequently. XRP was at the forefront of these rallies, surging by more than 420% within a month, charting a 7-year high, and becoming the third-largest cryptocurrency by market cap.
The past 24 hours have seen the rise of two other bright stars – Tron and Binance Coin. Both have blasted through their previous ATHs, especially the former. TRX shot up by more than 70% and jumped above $0.43 to mark a fresh peak.
Other noteworthy contenders include XLM, HBAR, DOT, and AVAX. Now, the community has started to speculate on which altcoin will be next.
Is PEPE Next?
The third-largest meme coin also soared in value after Trump’s win and marked a new all-time high on November 14 at $0.00002457 (CoinGecko data). This came after numerous listings on large exchanges and a growing hype within the community.
Similar to DOGE, though, it retraced in the following weeks and now sits below $0.000021 – or 15% away from its peak from last month. It has remained somewhat on the sidelines, with the focus going on many of the aforementioned assets.
However, it seems certain large investors, known as whales, are turning their attention back to it, which could suggest a further rally. Data from Lookonchain shows that a single whale had accumulated and withdrawn nearly $7 million worth of PEPE in the past 20 days. Such large purchases and withdrawals often precede price increases due to the declining available supply and immediate sell pressure.
Whales continue to accumulate $PEPE!
A whale has withdrawn 337.09B $PEPE ($6.92M) from #Binance in the past 20 days.
Will PEPE be the next in line?
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Conclusion
The current crypto environment is filled with altcoins that have popped up and registered massive gains. Will PEPE be the next in line? With whale activity suggesting a possible rally, it’s worth keeping an eye on this altcoin.
FAQs
Q: What is the current state of the crypto environment?
A: The current crypto environment is filled with altcoins that have popped up and registered massive gains.
Q: What is the current price of PEPE?
A: PEPE is currently priced at $0.000021, 15% away from its peak from last month.
Q: What is the purpose of the Lookonchain data?
A: The data from Lookonchain shows that a single whale had accumulated and withdrawn nearly $7 million worth of PEPE in the past 20 days, suggesting a possible rally.
Q: What is the limited offer for CryptoPotato readers at Bybit?
A: The limited offer is for CryptoPotato readers to register and open a $500 FREE position on any coin.
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