Whales bought PEPE for $5.56 million amid market downturn

According to Spot On Chain, the whale with the address 0xa14 was particularly active, withdrawing 350.2 billion PEPE worth $2.93 million from Binance.

🇻🇨 Since March 14, they have made several transactions: first, transferring 1.449 trillion coins from the exchange at an average price of $0.000007496, then returning 789.26 billion PEPE to Binance. The investor now owns 660 billion tokens valued at $5.74 million.

Despite the prevailing bearish sentiment in the market, PEPE has shown resilience and quickly recovered, rising almost 7% from Friday’s low.

↗️ Additionally, the meme coin has broken out of an inverse "head and shoulders" pattern, which is considered a bullish formation. Technical analysis suggests that the price of PEPE could potentially soar to $0.00001330.