Ethereum Memecoin $PEPE Surges Amid Spot Ethereum ETF Buzz

The Ethereum-based memecoin $PEPE (@pepecoineth) is making waves in the crypto world, positioning itself as a top beta play with the anticipated launch of a spot Ethereum ETF.

Despite the broader market decline, $PEPE has seen record growth, surpassing 255,000 token holders, a testament to its increasing popularity and investor confidence.

JUST IN: Ethereum memecoin $PEPE (@pepecoineth) positioned as top beta play with upcoming spot Ethereum ETF.

— Whale Insider (@WhaleInsider) July 10, 2024

A significant recent transaction highlights the growing interest in $PEPE. Just five hours ago, Whale wallet 0x1e5c acquired 79.41 billion $PEPE tokens, valued at $733,000, at an average price of $0.0092.

This whale previously realized $175,000 in profits from $PEPE and now holds 115.44 billion $PEPE tokens, currently worth $1.08 million. This move underscores the bullish sentiment surrounding $PEPE, even amid market fluctuations.

Update on the $PEPE buying action by Smart Dex Traders

5 hours ago, Whale wallet 0x1e5c bought 79.41B $PEPE ($733K) at an average price of $0.0092.

Details about $PEPE: https://t.co/h3YNFdh7sA

Previously, the wallet had realized $175K in $PEPE profits, and is currently… https://t.co/CiV70MnDin pic.twitter.com/9Tmtxrxhk4

— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 11, 2024

Multiple Whales Continue Staking Trillions Of $PEPE Tokens 

In another noteworthy development, over the past two days, Whale wallet 0x2da staked 2 trillion $PEPE tokens, approximately $18.42 million, into @sophon. This whale accumulated these tokens last year for $2.33 million, now sitting on an unrealized profit of around $16.09 million. This substantial staking activity further indicates strong confidence in the long-term potential of $PEPE.

13 hours ago, a whale 0x2da staked 2T $PEPE (~$18.42M) into @sophon.

Last year, he accumulated those token for $2.33M and has unrealized profit ~$16.09M.

Address:https://t.co/uI0qln4b1z pic.twitter.com/xJLQkk2wPX

— The Data Nerd (@OnchainDataNerd) July 10, 2024

$PEPE’s rapid growth and strategic moves by significant holders position it as a prominent player in the memecoin market. The upcoming spot Ethereum ETF is expected to provide additional momentum, potentially driving $PEPE to new heights.

In summary, $PEPE’s remarkable performance amidst market challenges, combined with strategic investments by whale wallets, underscores its potential as a leading memecoin. As the market eagerly anticipates the spot Ethereum ETF, $PEPE is poised to continue its upward trajectory, making it a key asset to watch in the coming months.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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