đ„Pepe Could Make a 51% Jump as Crypto Whales Snap Up $5.56 Million Worth of Tokensđ
Big crypto players are making waves during the market downturn, scooping up loads of the meme coin Pepe to the tune of around $5.56 million.
This comes as the overall crypto market takes a dip.
Pepe's Potential 51% Jump
Spot On Chain, a platform analyzing blockchain activity, highlighted a major crypto whale known by the wallet address 0xa14, who's been quite active.
A whale recently moved 350.2 billion PEPE, worth $2.93 million, from Binance, marking their fourth such move. They've made an estimated profit of $1.63 million from these transactions, a solid 15% gain.
Since March 14, 2024, this whale has withdrawn 1.449 trillion PEPE from Binance, spending around $10.86 million. They've deposited back 789.26 billion PEPE, spending $6.74 million and currently holding 660 billion PEPE, valued at roughly $5.74 million.
Spot On Chain noted, "This whale has consistently profited, with a 100% win rate, totaling $955,000 from previous PEPE trading cycles." Other big traders are also joining the PEPE party. Lookonchain reported another investor, 0xa4F, buying 123.66 billion PEPE for $1.09 million.
Wallet address 0x895 withdrew 101 billion PEPE, worth around $885,000, from Binance, while 0x24E3 invested $661,000 USDC to get 74.5 billion PEPE at a rate of $0.000008873.
These moves come as $BTC dropped about 5% from $63,400 to $60,180 last Friday. Despite this, PEPE has shown resilience, bouncing back nearly 7% from Friday's low.
PEPE's recent recovery was boosted by a breakout on May 3. On May 8, the meme coin tested the pattern's neckline at $0.00000785 and jumped up by 11%.
Market analysis hints that based on the current pattern, PEPE could soar up to $0.00001330, marking a 51% increase from its current price.
Price Check on Pepe (PEPE)
Watch out for resistance at $0.00000890. If PEPE closes below $0.00000785, it might signal a downturn, so keep a close eye on the charts.
