Number of Wallets Holding PEPE Increases Rapidly, Will Pepe Coin Price Recover?

Bittime - The number of wallets holding PEPE reached a new high, i.e 360,900 addresses, surpassing the previous record in December 2024. Will the price of Pepe Coin ever recover? Check out the review here!

This increase occurred amidst great activity by whales who showed new interest in this popular memecoin. Is this trend enough to bring PEPE price to recover after the previous drastic decline? Keep following this article, come on.

The number of wallets holding PEPE is increasing rapidly

Source: The Coin Republic

According to the latest data, the number of wallets with PEPE balances has increased rapidly, rising from 335,660 addresses in December 2024 to be 360,900 addresses as of January 10, 2025. 

This spike shows that investors, both small and large, are taking advantage of the drop in PEPE prices to buy more.

Meanwhile, whale activity has also increased sharply. Between January 7 to 9, net flows from large holders surged from -242.39 billion PEPE become 4.36 billion PEPE. 

This was the second biggest spike since December, indicating massive accumulation which is usually a sign of the start of a bullish move.

Read also: PEPE vs APU: Differences and Potential of Both

Will PEPE Coin Price Recover?

In the last week, PEPE prices have decreased by approx 23% from its highest level. However, at the price level $0.00001696 (approximately Rp. 0.27), PEPE finds strong support. 

On Friday and Saturday, PEPE prices managed to rise again by 7%, reach $0.00001793 (approx. Rp. 0.29).

If you look at historical data, support at this price level previously triggered a price spike of 31% in December 2024. 

With demand continuing to increase, especially from the derivatives market, PEPE has the potential to experience a similar surge, with predictions of an increase of up to 20% from the current level.

However, it is important to note that memecoin price movements are often influenced by high volatility. If whales decide to take advantage and withdraw large funds from the market, PEPE prices could experience pressure again.

Read also: Can PEPE Become The Next Dogecoin in 2025?

Conclusion

The surge in the number of wallets holding PEPE and the large activity of whales shows that this memecoin is still attracting market interest. 

Although PEPE prices were under pressure for a while, there are strong signals that massive accumulation could drive price recovery in the near term. However, investors must remain careful, considering the high volatility in the memecoin market.

FAQ About PEPE

1. What is Pepe Coin (PEPE)?

Pepe Coin is a meme-based cryptocurrency that is attracting attention due to its active community and high volatility.

2. Why is the number of wallets holding PEPE important?

The number of wallets with PEPE balances reflects the level of investor interest and trust in this memecoin.

3. Is PEPE suitable for long term investment?

As a memecoin, PEPE has high risks. Investors should conduct in-depth research and consider their risk tolerance before investing.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference 

coinmarketcap, PEPE Coinmarketcap, accessed January 13, 2025.

The Coin Republic, PEPE Crypto Addresses Hit New ATH At 360,900, Whale Activity Spikes, accessed January 13, 2025.

Author: Y