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PEPE Outpaces Memecoin Market as Whale Accumulation and Futures Interest Climb

PEPE, the meme-inspired cryptocurrency, experienced a price increase of 2.5% in the last 24 hours, outperforming both the broader memecoin sector and the overall cryptocurrency market. The price surged from $0.00000969 to a high of $0.00001027, with notable trading volumes exceeding 314 billion tokens during this rise. Contributing to this momentum is a significant uptick in whale accumulation; the top 100 PEPE addresses on the Ethereum network have collectively increased their holdings by 4.28% over the last month. Additionally, open interest in PEPE futures products has risen to approximately $645 million. This price movement is viewed as a sign of accumulation, suggesting that many investors are building positions rather than seeking quick profits, which indicates a bullish outlook for PEPE in the market.

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