- Several altcoins have seen massive price rallies recently, like XRP and TRX hitting new all-time highs.
- PEPE, currently the 28th largest cryptocurrency, is being speculated as the next altcoin to potentially explode in price.
- A crypto whale has accumulated nearly $7 million worth of PEPE tokens in the last 20 days, which could drive the price up due to reduced supply.
In the dynamic realm of cryptocurrencies, the spotlight has been on XRP and TRX recently. However, the meme coin PEPE is now gathering attention as a potential contender for the next big price explosion. Currently ranked the 28th largest cryptocurrency, PEPE has been revealing some promising signs of a possible surge.
A Rundown on the Recent Altcoin Rallies
Several altcoins have made headlines recently with their impressive double- and even triple-digit gains. The altseason seems to have been ignited following Donald Trump’s decisive victory in the U.S. presidential elections. DOGE, one of the coins associated with Elon Musk, soared to new multi-year peaks alongside Bitcoin.
However, as Bitcoin consolidated, other altcoins have started to take center stage. XRP led the charge with a massive 420% surge within a month, achieving a 7-year high and securing its position as the third-largest cryptocurrency by market cap. Tron and Binance Coin have also marked new highs, with TRX experiencing a significant 70% increase. Other coins such as XLM, HBAR, DOT, and AVAX have also drawn attention, prompting speculation about the next altcoin breakout.
source: coingecko
Is PEPE the Next Crypto Star?
PEPE, the third-largest meme coin, has also experienced a significant upswing in value, particularly following Trump’s win. The coin achieved a new all-time high on November 14, with CoinGecko data showing a significant increase after numerous listings on major exchanges and growing hype within the community.
Despite some retracement in the following weeks, PEPE has remained a significant player in the crypto scene. Data from Lookonchain indicates that a single whale has accumulated and withdrawn nearly $7 million worth of PEPE in the past 20 days. This type of whale activity often precedes price increases due to the decreasing available supply and immediate sell pressure, pointing towards a potential rally for PEPE.
Conclusion
The crypto environment is ever-changing, and PEPE appears to be a promising contender for the next altcoin price surge. With significant whale activity and a growing community interest, it may be worth keeping an eye on this coin. As always, potential investors are advised to conduct their own research and proceed with caution in the volatile crypto market.
