Key Insights:
- Two whales made significant PEPE purchases worth a combined $8.7 Million.Â
- One wallet withdrew 500 billion PEPE ($4.3M) from Binance, while the other bought 699 billion PEPE.
- PEPE coin price rebounded from a historical support zone, forming a double-bottom reversal pattern.Â
PEPE coin price recently witnessed whale actions of enormity. A newly created wallet for Binance sent 500 billion PEPE. The value of these coins was $4.3 Million.
This was followed by another whale accumulating 699 billion PEPE, immediately valued at $4.4 Million. It made the total amount of $8.7 Million, then withdrawn.
The exchange withdrawal resulted in massive PEPE piling, reducing market liquidity. This resulted in an 8.66% increase in its market value.
The limited supply of PEPE tokens probably led to a price increase. That resulted in a 1.509% gain in an hour that was wiped later.
These low levels of market capital raised concern because investors could react by quickly dumping their assets once sentiments shifted.
Analysts and crypto enthusiasts had mixed sentiments regarding the PEPE coin since. Some anticipated huge returns due to demand. At the same time, others were afraid of market volatility.
Pepe Coin Price Daily Performance
At press time, the previous 24 hours saw PEPE coin price demonstrate fresh strength even after closing 2.30% lower. The memecoin had recovered from an intraday low of around $0.00000800.
Going forward, it formed higher lows and regained ground above $0.000008300. PEPE could return around $0.0000114 due to continued whale buying pressure.
Bear market conditions dominated, fearing liquidation. Given the impending bearish signals, this could send the PEPE coin price down to $0.0000070 in a panic sell.
The market frenzy highlighted PEPE’s highly volatile nature. Its future growth depends on whether whale buying waves sustain bullish momentum or trigger a broader industry downturn.
PEPE Price Prediction
PEPE price had been trading at just below minor resistance at $0.00000880, with increasing volume showing bullish support, though still failing to breach major levels.
The token’s price continued its ascent from a vital support area marked by the circled area. This area may have developed into a two-bottom reversal pattern.
The high demand level at this price point showed that market participants stepped in to maintain stability. As a result, there is more indication of increasing bullish buying interest.
PEPE coin price movement matched historical reversal patterns that introduced prolonged uptrends.
The prospects of price recovery toward resistance areas became more likely since PEPE stayed above its essential support layer. PEPE’s rebound at the price level of $0.00000800 validated the technical significance of the price level as a support area.
The price level of $0.00002384 is the initial target for a potential price move. It has previously acted as a significant turning point in past price movements.
If PEPE breaks through this level, the next stop would be $0.00002965. $0.00002965 stands as a historically sensitive price barrier for upward continuation.
A continuous rise in PEPE price values could lead to $0.00003466 as its next destination after exceeding $0.00002384. Not enough support enables PEPE to revisit $0.00000800 before breaking down and reaching $0.00000600.
The present market status indicates a potential early-stage reversal. However, lasting and strong buying momentum must be developed to achieve additional upward moves.