Amidst PEPE's impressive price surge this year, climbing from $0.0000009 to $0.000008, the accumulation of Pepe Coin has been steadily increasing, hinting at potential further gains for the meme token featuring the popular frog character.

The ongoing trend of accumulating Pepe coin has been notable during this year's bullish run of the meme token. Today, on May 11, data from an analytics platform revealed a significant acquisition of 650 billion PEPE by investors in the crypto market, sparking optimism regarding the future price trajectory of this meme cryptocurrency.

Pepe coin's journey from a low of $0.0000009 to a high of $0.0000099 in March surprised many, leading to speculations of a possible correction. However, recent accumulations of PEPE, whether by large holders or investors, have reportedly reached trillions, adding an element of intrigue to the token's price movements ahead.

PEPE Accumulations - A Noteworthy Trend in Crypto

According to data provided by LookOnChain, investors snapped up 649.16 billion PEPE in the last 24 hours, with significant amounts being acquired by four undisclosed addresses, particularly withdrawing substantial sums from exchanges. Address 0xa145 withdrew 350 billion PEPE, valued at $3.44 million, from Binance, a prominent cryptocurrency exchange.

This address, known for its adept swing trading, has shown a profit of $2.66 million with Pepe coin. Additionally, the address holds 67 different tokens, with Shiba Inu and Pepe coin ranking as the top assets in the wallet.

Furthermore, address 0xa4Fd purchased 123.66 billion PEPE with 1.09 million USDC, while addresses 0x895f and 0x24E3 acquired 101 billion and 74.5 billion PEPE, respectively.

These substantial accumulations amidst PEPE's upward momentum have fueled optimism about the token's potential for further growth. However, recent price action for PEPE has shown significant volatility over the past 24 hours.

Price Fluctuations of Pepe Coin

At present, PEPE's price has dipped by 0.27% to reach $0.00000867, with the token's trading chart displaying fluctuations between red and green zones. The 24-hour trading range indicates lows of $0.000008219 and highs of $0.000008906, suggesting a period of sideways movement.

Despite consolidation, a recent report highlighted a whale acquiring around 350 billion PEPE, contributing to the positive outlook on Pepe coin's future price movements. Market data also indicates a rise in PEPE's open interest by 1.64% to $98.81 million, while derivatives volume decreased by 0.32% to $822.18 million, potentially influencing short-term volatility. With the significant accumulations and anticipation of a post-BTC halving rally, market sentiment remains optimistic about the long-term prospects of Pepe coin.