{"id":345158,"date":"2024-07-16T12:57:29","date_gmt":"2024-07-16T07:27:29","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=345158"},"modified":"2024-07-16T12:57:29","modified_gmt":"2024-07-16T07:27:29","slug":"pepe-coin-skyrockets-23-as-vc-buys-141-bln-pepe-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/pepe-coin-skyrockets-23-as-vc-buys-141-bln-pepe-whats-next-crypto-news\/","title":{"rendered":"Pepe Coin Skyrockets 23% As VC Buys 141 Bln PEPE, What’s Next? – Crypto News"},"content":{"rendered":"

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In an unprecedented turn of events, Pepe coin rallied nearly 23% today, July 16, against the backdrop of a VC\u2019s massive 141 billion PEPE accumulation. On-chain insights reveal that Nascent, a Venture Capital, heavily bagged Pepe coin amid its price upswing, primarily swapping its previous crypto holdings. This event has projected a ray of optimism on the frog-themed meme coin\u2019s future price movements. So, let\u2019s delve deeper into the current market statistics and what it means for the price action ahead.<\/p>\n

Nascent Swaps Holding For 141B Pepe Coin<\/h2>\n

As per on-chain insights offered by Lookonchain, Nascent swapped MKR positions for PEPE<\/a> and LDO tokens today. Notably, the VC shifted 1,215 MKR to Binance, worth $3.41 million. In turn, it accumulated 141.23 billion PEPE, worth $1.57 million, and 281K LDO, worth $503K, from the same crypto exchange.<\/p>\n

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With the abovementioned accumulation weighing in, Nascent currently holds a significant 608.85 billion PEPE, worth $7.49 million. The colossal holding underscored the VC\u2019s confidence in one of the top meme coin\u2019s<\/a> potential to offer further gains.<\/p>\n

It\u2019s worth noting that Pepe coin soared to an all-time high of $0.00001718 during this year\u2019s bull cycle. Despite recent market corrections that saw it drop to as low as $0.000007, the coin has shown remarkable resilience. Today, it once again gained significant upside momentum, ditching a zero to reach the $0.00001 price level.<\/p>\n

Also Read: Pepe Coin Whale Dumps 9T PEPE; Token Price Down By 14% WoW<\/a><\/strong><\/p>\n

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PEPE Price Rallies<\/h2>\n

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At press time, the PEPE price<\/a> rallied 23.42% to reach $0.00001201. The meme coin\u2019s 24-hour bottoms and tops were $0.000009399 and $0.00001251, respectively.<\/p>\n

Pepe coin\u2019s recent price upswing falls in line with the significant buying pressure brought upon the asset by Nascent. Also, the derivatives market data by Coinglass signaled a market uptrend for the meme coin.<\/p>\n

PEPE\u2019s futures OI<\/a> surged 23.19% to $144.78 million today, further accompanied by a derivatives volume upsurge of 178.66% to $3.24 billion. This data indicates increased investor interest in the asset, further adding an optimistic tint on future movements when coupled with today\u2019s massive accumulation.<\/p>\n

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Moreover, the RSI moved along the 58 mark, hinting at broader market neutrality for the asset with a slight bullish presence, paving the way for more potential buying. Should this happen, the frog-themed meme coin could witness further gains.<\/p>\n

However, crypto market enthusiasts continue to eye the token for further shifts, given the volatility of the crypto realm.<\/p>\n

Also Read: 3 Reasons Pepe, Dogwifhat on the Cusp of Leading Meme Coin Super Cycle<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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In an unprecedented turn of events, Pepe coin rallied nearly 23% today, July 16, against the backdrop of a VC\u2019s massive 141 billion PEPE accumulation. On-chain insights reveal that Nascent, a Venture Capital, heavily bagged Pepe coin amid its price upswing, primarily swapping its previous crypto holdings. This event has projected a ray of optimism […]<\/p>\n","protected":false},"author":2,"featured_media":297925,"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-345158","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\/345158","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=345158"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/345158\/revisions"}],"predecessor-version":[{"id":345165,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/345158\/revisions\/345165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/297925"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=345158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=345158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=345158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}