PEPE Price Prediction for December 28: Rally Imminent?
Amid continued uncertainty in the market, PEPE, the world’s third-largest crypto meme coin, is receiving significant attention from whales and traders. As of December 28, 2024, the entire cryptocurrency market appears to be in trouble, including major assets such as Bitcoin, Ethereum, Solana, and PEPE.
PEPE Whale bought 1.42 trillion Meme coins
Despite these difficulties, whales and traders have begun to show interest and confidence in the token, reported on-chain analytics firm Coinglass and whale transaction tracker Lookonchain.
Recently, Lookonchain posted on X (formerly Twitter) that the crypto whale, which had previously sold all of its PEPE holdings for a profit of $11.7 million, bought back 1.42 trillion PEPE worth $24.5 million during the market decline.
However, this massive meme coin accumulation has occurred for six days, marking an ideal dip-buying opportunity. In addition to this whale acquisition, PEPE spot inflow/outflow data shows that the exchange also witnessed a significant outflow of PEPE worth $40.86 million. This indicates that long-term holders are withdrawing their tokens from exchanges.
Outflow is a On-chain indicators This shows long-term holders withdrawing funds from the exchange and usually signals underlying upside momentum and increasing buying pressure.
PEPE Technical Analysis and Upcoming Levels
According to expert technical analysis, PEPE It has been consolidating within a tight range between $0.0000167 and $0.0000195 for the past ten days. However, a breakthrough in this integration could give memecoins a significant boost.
PEPE Price Forecast
Based on the recent price action, if PEPE breaks out of this consolidation area and closes the daily bar above the $0.000020 level, there is a high chance that it could surge 40% to reach the $0.0000278 mark in the future.
The bullish thesis for PEPE is only valid if the daily candle closes above the $0.000020 level; otherwise, upward momentum may not be gained.
Current Price Momentum
At press time, PEPE is trading close to the $0.000018 mark and has seen price gains of over 4.5% in the past 24 hours. Over the same period, its trading volume fell slightly by 3.2%, indicating less participation from traders and investors as market sentiment shifted.
