Hi Guys,
It's Big & Big #alert About $PEPE Whales Shifting 4 Billion !!!
PEPE whale shifts 4B tokens: A signal for an upcoming rally?
Whales are showing increased interest in PEPE, which could be a precursor to an imminent rally.
Whale actions bring hope for PEPE
A recent report from Lookonchain revealed that in a significant transaction, a whaleâdefined as an investor holding a large number of tokensâhas transferred 4 billion PEPE, valued at approximately $29,868,000, from the centralized exchange
Bybit to a private wallet.
Such movements, from a centralized exchange to a private wallet, generally indicate that investors are gaining confidence in the asset, potentially leading to a supply squeeze.Â
A supply squeeze occurs when the available supply of a cryptocurrency becomes limited, often resulting in higher prices if demand continues unabated, as buyers compete for a shrinking pool of available coins.
Despite this optimistic activity, the immediate impact on PEPEâs price has been muted, with a decline of 3.93% in its daily candlestick movement. However, AMBCrypto suggests that a rally may be on the horizon.
Golden crossover and symmetrical pattern position PEPE favorably
PEPE is currently trading within a bullish symmetrical triangle, a pattern characterized by converging diagonal support and resistance lines that create a sloping structure.
In this formation, prices typically oscillate within these levels until a breakout occurs near the point of convergence.
PEPE is now at this critical juncture, having rebounded from the lower support lineâa key catalyst for movement. This rebound coincides closely with the convergence point.
Should a breakout occur, PEPE is set to revisit its peak at the patternâs apex, recorded in May at $0.00001725, with the potential for even higher gains.
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