PEPE Price Set to Explode 60%, Whale Buys 310 Billion Tokens
PEPE, the world’s third-largest crypto memecoin, has made waves in the cryptocurrency space with its recent performance and is poised to continue its run. Potential reasons for PEPE’s bullish outlook include its current price action, significant whale interest, and current market sentiment.
Whale increases its holdings of 310 billion PEPE tokens
With all these bullish parameters in mind, today, November 22, 2024, the Whale Trade Tracker data junkie Posting on X (formerly Twitter), a whale acquired 309.6 billion PEPE meme tokens worth $6.42 million from KuCoin.
However, this acquisition comes as Meme coin breaks out of a bullish price action pattern, suggesting an excellent buying opportunity for the cryptocurrency community.
Whales rarely accumulate tokens when asset prices are near all-time highs (ATH). However, the current participation from whales and investors shows their confidence in the memecoin and points to further price gains.
In addition to these noteworthy acquisitions, data from on-chain analytics firms Enter the neighborhood It was revealed that whales and institutions have shown strong interest in PEPE. In the past 24 hours, meme currency large transaction volume surged 41.06%.
PEPE Technical Analysis and Upcoming Levels
According to expert technical analysis, PEPE has broken out of a bullish flag and extreme price action pattern and is now heading towards a new all-time high (ATH). Based on current price action and historical price momentum, if PEPE closes daily above the $0.000022 level, it has a high chance of surging 60% to $0.000035 levels in the coming days.
Currently, the meme coin is trading above the 200 exponential moving average (EMA) on the daily time frame, indicating that the asset is in an uptrend. Meanwhile, its relative strength index (RSI) suggests there is still room for price gains in the coming days.
Current Price Momentum
Despite bullish price action, PEPE It is currently trading close to $0.000020, with the price down 4% in the past 24 hours. Trading volume fell by 2.38% during the same period, indicating that traders and investors were less involved than the previous trading day.
