Despite the market being in a downtrend and sideways for almost 2 months now, investors and crypto whales seem to be piling in massively, showing their strong interest and confidence. Today, Lookonchain, an analysis firm, reported that crypto whales have 649 billion assets in X. Pepe Coin He made a post stating that he was saving (PEPE).
Whales Bought 649 Billion Pepe Coins
This massive PEPE hoard is managed by four crypto whales who withdraw PEPE from Binance, the world’s largest cryptocurrency exchange. The first whale, with wallet address 0xa145, attracted 350 billion PEPE worth approximately $3.44 million. This whale appears to have had success trading PEPE in the past, making a profit of approximately $2.66 million.
The second whale used the wallet address 0xa4Fd and bought 123.66 billion PEPE by spending 1.09 million USDC 18 hours ago. The third whale has wallet address 0x895f and withdrew 101 billion PEPE from Binance (885,000 USD) 13 hours ago.
The fourth whale has the wallet address 0x24E3 and purchased 74.5 billion PEPE by depositing 661 thousand USDC just 6 hours ago.
These investors or crypto- whales are likely to have some insight into PEPE. However, it is noteworthy that this huge accumulation of PEPE has not yet had an impact on the price. Crypto markets generally have a complex and fast-changing structure. Therefore, the effects of accumulation may occur over time or interact with other factors. Investors often monitor the movements of big whales and evaluate the potential impact of such accumulations on the markets.
PEPE Technical Analysis and Key Levels
meme coin It is currently trading around $0.0000087. Additionally, it experienced a positive movement of 0.72% in the last 24 hours. While it showed a good upward momentum of 1% in the last 7 days, it increased by more than 20% in the last 30 days despite the uncertainties around the world.
According to expert technical analysis, PEPE is currently in an uptrend and trading near a strong resistance level at $0.0000089. One of the most important reasons for this bullish outlook is the breakout of the bullish flag and polar formation on the daily timeframe. In the coming days, if the daily candle closes above $0.0000092, there is a high probability that PEPE will rise substantially.
However, a close above the specified levels or confirmation of technical patterns should always be expected. It’s important to remember that since cryptocurrency markets are volatile, prices can change quickly. Investors should always do their own research and manage their risks.
