A deep-pocketed crypto entity has been seen suddenly withdrawing more than a half trillion Pepe (PEPE<\/a>) as the memecoin soars, on-chain data shows.<\/p>\n Blockchain tracking firm Lookonchain noticed<\/a> that the crypto whale withdrew 592 billion PEPE from Binance, the world\u2019s top crypto exchange, which was worth nearly $8 million at the time of the transaction.<\/p>\n \u201cA whale withdrew 592 billion PEPE ($7.95 million) from Binance [on May 22nd], most likely bought during the price increase over the past two days.\u201d<\/em><\/p>\n Pepe is trading for $0.0000137 at time of writing, up 11.5% in the past 24 hours and 108% in the last month.<\/p>\n Some analysts are suddenly turning bullish<\/a> on Pepe, including pseudonymous crypto analyst Altcoin Sherpa.<\/p>\n \u201cIf you\u2019re looking for a big cap meme to long, I think PEPE is a good one, good liquidity, strong volume. This one definitely catches up to the others a bit in my opinion \u2013 not saying it\u2019ll flip Doge or anything, but should go up more relatively. Long in the green boxes.\u201d<\/em><\/p>\n Looking at his chart, the analyst suggests Pepe could retest two trading ranges to the downside, including the range between $0.00001300 to $0.00001200 and $0.00001150 to $0.00001100, before rallying again.<\/p>\n However, another popular analyst DonAlt is warning<\/a> that red-hot memes like Pepe could see a sudden collapse in value of more than 80% based on data from previous cycles.<\/p>\n \u201cIf I\u2019m right, the popular memes we trade today will trade 80%+ lower. Then you\u2019ll have new memes come up that build new communities that run up. And we\u2019ll have the same discussions in a couple of years.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Featured Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A deep-pocketed crypto entity has been seen suddenly withdrawing more than a half trillion Pepe (PEPE) as the memecoin soars, on-chain data shows. Blockchain tracking firm Lookonchain noticed that the crypto whale withdrew 592 billion PEPE from Binance, the world\u2019s top crypto exchange, which was worth nearly $8 million at the time of the transaction. […]<\/p>\n","protected":false},"author":2,"featured_media":135311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-307819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=307819"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307819\/revisions"}],"predecessor-version":[{"id":307824,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307819\/revisions\/307824"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/135311"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=307819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=307819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=307819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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