- Cryptocurrency influencer alleges Dogecoin whales use bots to spread FUD about PEPE token.
- PEPE’s price reaches a new all-time high, outperforming Dogecoin and Shiba Inu in trade volume.
- Large wallet investors continue to accumulate PEPE despite the alleged FUD campaign.
Amid the growing popularity of PEPE token, cryptocurrency influencer ExitLiquidity454.eth has accused Dogecoin whales of spreading fear, uncertainty, and doubt (FUD) about the new meme coin. The influencer shared screenshots of bot accounts on Twitter urging people to swap PEPE tokens for Dogecoin and even claiming that PEPE’s value will “tank” and investors won’t have a chance to liquidate their holdings. The influencer wrote:
Bullish desperation from the recently deceased dog coins. #FROGSOVERDOGS.
Despite the alleged FUD campaign, the PEPE community remains unfazed. Some users claim that the negative attention is actually beneficial for the meme coin. One such user states that PEPE has broken through the fourth wall of crypto and will supplant DOGE.
PEPE’s price recently reached a new all-time high of $0.0000010947, surpassing both Dogecoin and Shiba Inu in trade volume. PEPE now ranks third in the meme coin category, with its 24-hour trade volume almost double that of Shiba Inu.
Data from crypto intelligence tracker Santiment indicates that large wallet investors, or “whales,” holding upwards of 1,000,000 PEPE have consistently been accumulating the token since April 26. Whales holding between 10,000,000 to 100,000,000 PEPE, 100,000,000 to 1,000,000,000 coins, and 1,000,000 to 10,000,000 PEPE tokens have all consistently added to their portfolios.
However, not all whales are buying into the meme token. It was reported that a particular PEPE whale sold around 100 billion PEPE for 21 Ethereum (ETH), worth approximately $40k, when the coin was valued at about $0.0000004007. This same whale had previously purchased 5.9 trillion PEPE with 0.125 ETH just four days earlier. So far, the whale has sold about 800 billion PEPE, or 14% of all PEPE, receiving 117 ETH (worth $221.5k) at an average selling price of $0.0000002744.
In a related development, crypto exchange OKX announced on May 1 that it has listed PEPE token, adding to its growing visibility in the cryptocurrency market.