After XRP and TRX, is PEPE the next altcoin to explode in price?

TL:DR;

• Over the past few weeks, several altcoins have emerged that have seen massive double and even triple-digit gains at some point.
• Will PEPE be next in line? Some whale activity suggests this.

Alts Rally

The current crypto environment is crying out for a peak season. It all started after Donald Trump’s decisive victory in the US presidential election, when DOGE, along with BTC, shot to new multi-year highs, possibly due to the asset’s connection to Elon Musk.

Since then, Bitcoin has stalled and is in consolidation mode, while DOGE has calmed down. However, numerous other altcoins appear frequently. XRP has been at the forefront of these rallies, rising more than 420% in a month, hitting a 7-year high and becoming the third-largest cryptocurrency by market capitalization.

Two more bright stars have risen in the last 24 hours – Tron and Binance Coin. Both have broken their previous ATHs, especially the former. TRX shot up more than 70% and jumped above $0.43 to set a new high.

Other notable competitors include XLM, HBAR, DOT and AVAX. Now the community has started speculating about which altcoin will be next.

Is PEPE next?

The third-largest meme coin also skyrocketed after Trump’s victory, setting a new all-time high of $0.00002457 on November 14 (CoinGecko data). This came after numerous listings on major exchanges and growing hype within the community.

However, similar to DOGE, it declined in the following weeks and is now below $0.000021 – or 15% from its peak last month. It has remained more on the sidelines, focusing on many of the assets mentioned above.

However, it appears that certain large investors, known as whales, are turning their attention back, which could portend another rally. Data from Lookonchain shows that a single whale has accumulated and withdrawn nearly $7 million worth of PEPE over the past 20 days. Such large purchases and redemptions often precede price increases due to declining available supply and immediate selling pressure.

The number of whales continues to increase $PEPE!

A whale has withdrawn 337.09B $PEPE($6.92 million). #Binance in the last 20 days.https://t.co/65vbIQd2dd pic.twitter.com/79NauAQt8V

– Lookonchain (@lookonchain) December 4, 2024