According to blockchain analytics firm Lookonchain, a single whale address has withdrawn 337.09 billion PEPE coin, valued at approximately $6.92 million, from Binance over the past 20 days.

This substantial withdrawal suggests strategic positioning by large investors anticipating future price appreciation.

PEPE’s recent performance metrics paint an impressive picture across all timeframes.

The token has gained 2.3% in the last 24 hours and 13.5% over the past week while maintaining a modest 2.9% appreciation over two weeks.

The most important metric remains its yearly return of 1,500%.

This shows sustained buyer interest throughout 2024. Currently trading at $0.00002091, PEPE coin sits just 15% below its all-time high of $0.00002457, achieved on November 14, 2024.

PEPE has the Potential to Go Higher

According to Bitcoin CEO Max’s comprehensive market analysis, PEPE’s current positioning mirrors historical patterns seen in previous bull markets, particularly drawing parallels to Dogecoin’s behavior during the last cycle.

Max emphasizes PEPE’s correlation with Ethereum price movements and seasonal patterns, suggesting the token could be entering its strongest period of the year.

The analyst highlights several key factors supporting potential price appreciation:

1. Strong correlation with Ethereum’s historically bullish Q1 performance
2. Sustained institutional accumulation during consolidation
3. Technical breakout patterns forming near all-time highs
4. Growing mainstream recognition and legitimacy

The market structure shows robust support levels established during recent consolidation, with whale accumulation providing additional price stability.

The consistent large-holder behavior, exemplified by the recent $6.92 million Binance withdrawal, indicates smart money positioning for anticipated upward movement.

PEPE Gains Attention on CNBC

PEPE coin’s legitimacy received validation through recent mainstream media coverage, with CNBC highlighting both PEPE and Solana’s CHILLGUY as “very good investments.”

This recognition from traditional finance marks a notable shift in institutional perception of meme tokens and could catalyze increased investment from conventional market participants.

The token’s sustained performance throughout 2024, culminating in a 1,500% yearly return, demonstrates resilience and growing market acceptance.

The current consolidation near all-time highs, supported by substantial whale accumulation, suggests potential for another significant leg up in price action.

Can PEPE Coin Hit its ATH Soon?

Market participants closely monitor several key metrics as PEPE approaches its all-time high:

• Continued whale accumulation patterns
• Institutional fund flows
• Technical breakout signals
• Correlation with Ethereum performance

The mix of strong technical indicators, sustained whale accumulation, and growing mainstream recognition creates a compelling case for PEPE’s potential to establish new price records.

The token’s ability to maintain prices near all-time highs while large holders continue accumulating suggests strong underlying demand and potential for further appreciation.

The broader market context, particularly Ethereum’s historically strong performance during early quarters, provides additional support for PEPE’s bullish outlook.

As the token maintains its position within striking distance of previous highs, the possibility of surpassing its November 2024 peak of $0.00002457 appears increasingly probable.

The post PEPE Whales Continue Accumulation: Can The Meme Coin Breach Its ATH? appeared first on The Coin Republic.