PEPE Price Analysis: Whales Amp Up PEPE Holdings as Price and Trading Volume Surge

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After trading successfully on several exchanges in the past three months, digital asset Pepe (PEPE) has maintained the third-largest meme coin by trading volume and market valuation. The Ethereum-based meme coin has seen its liquidity steadily improve on various decentralized financial platforms like Uniswap.

According to market aggregate data provided by dex screener, Pepe has a liquidity of about $6.5 million on Uniswap V3 via WETH. Additionally, the meme coin had total liquidity of approximately $4.2 million via Uniswap V3 with MATIC token.

As a result of the significant Pepe liquidity, crypto whales have shown increased interest in the meme coin.

Pepe (PEPE) Interest on the Rise

As the altcoin market continues to exude a more bullish outlook amid Bitcoin price recovery, Pepe coin has attracted significant attention from investors. According to on-chain data provided by Lookonchain, a crypto whale converted $1 million worth of USDT into PEPE on Wednesday as the price gained about 3.3 percent. 

Notably, Pepe token’s daily traded volume increased by about 10 percent in the past 24 hours to approximately $163 million. Essentially, an increase in traded volume is perceived as heightened demand, which is often followed by price gains.

Pepe Price Analysis

Pepe price rebounded from a crucial support/resistance level in the last two days. According to a respected trader and analyst Crypto Tony, Pepe price could continue in a bullish recovery in the coming days if the support level around $0.0000011 holds.