Why is PEPE price up by double digits today?

PEPE price has jumped nearly 12% over the past 24 hours to approximately $0.0000048 on October 28, as reports of substantial holdings linked to Tron founder Justin Sun attract traders while derivatives activity and exchange withdrawals pick up. PEPE price gained nearly 12% as Arkham identified $51.25 million in holdings linked to Justin Sun. Sun-linked wallets reportedly control 2.82% of PEPE's supply, increasing attention to large-holder activity. Santiment recorded 4.77 trillion PEPE leaving exchanges on October 16, followed by partial reversals. CoinGlass data showed rising futures activity, alongside a reported $1.39 million in spot outflows.

Also reported by Coincu.

Source: crypto.news