PEPE Whale Gobbles $4.36M in Meme Coins as Price Surges 9.5%—$0.00001 Target In Sight?

Crypto’s favorite amphibian token leaps again as a deep-pocketed investor snaps up PEPE worth millions. The 9.5% rally sparks chatter of a run toward $0.00001—because nothing says ’sound investment’ like meme-driven price predictions.

Whales keep betting big on speculative assets while traditional finance analysts clutch their pearls. Will this gamble pay off, or is it just another pump before the dump?

Cryptocurrencies Rally Into The Green Zone

The whale’s big purchase comes amid a market-wide resurgence. Bitcoin (BTC) is testing the $99,000 mark. The global crypto market cap has risen by 1.3% in the last 24 hours to $3.18 trillion. PEPE follows a similar trend as well. The frog-themed memecoin is up 9.5% in the daily charts, 2.7% in the 14-day charts, 39.6% over the previous month, and 11.7% since May 2024. Despite the turnaround, the memecoin is down 1.7% over the last week.

PEPE’s rally is likely due to Bitcoin (BTC) briefly breaching the $99,000 mark. Investor confidence seems to have taken a boost. The rally could be due to the Arizona Governor signing a Bitcoin reserve fund bill into law. The move is especially welcomed because Florida recently withdrew two crypto-related bills.

Can PEPE Hit $0.00001 Next?

According to CoinCodex, Pepe may continue its upward momentum over the coming weeks. The platform anticipates the memecoin to reclaim the $0.00001 mark on May 12. CoinCodex does not expect the memecoin to stop just there. The platform anticipates PEPE to rise to a new all-time high of $0.00002969 on June 5. The memecoin’s price will rally by 237.7% if it hits the $0.00002969 target.

There is a possibility that the cryptocurrency market will continue its rally. The Federal Reserve may cut interest rates in its next meeting. A rate cut could lead to investors taking on more risks. PEPE and other risky assets could see a surge under such conditions.