Pepe With a Major Surge After a Significant VC Purchase

Pepe coin experienced a significant 23% jump on July 16, driven by a substantial purchase from venture capital firm Nascent.

The firm bought 141 billion PEPE, worth approximately $1.57 million, after selling its MKR holdings. This move signals strong confidence in the meme coin’s potential.

Nascent’s recent actions involved trading 1,215 MKR tokens valued at $3.41 million for 141.23 billion PEPE and 281K LDO tokens through Binance.

This brings Nascent’s total PEPE holdings to 608.85 billion, valued at $7.49 million. This aggressive acquisition strategy highlights the firm’s belief in PEPE’s growth prospects.

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Following this acquisition, PEPE’s price surged to $0.00001201. The coin’s value fluctuated between $0.000009399 and $0.00001251 in the past 24 hours. Market analysis from Coinglass showed a 23.19% increase in futures open interest and a 178.66% rise in derivatives volume, indicating strong investor interest.

With the RSI at 58, the market shows a slight bullish trend, suggesting potential for further price increases. However, the volatile nature of the cryptocurrency market means investors remain cautious about future movements.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.