Pepe Coin Price Set to Rise?
Analysis of data from IntoTheBlock shows that major holders of the $PEPE Coin have been steadily shedding their assets over the past few days. On August 28, there was a net outflow of $1.16 trillion ($8.96 million) from their wallets.
Coincidentally, the daily candle of the #PEPEâïž coin price on August 28 shows a struggle between buyers and sellers. A larger upper wick indicates the presence of aggressive selling.
đDonât Forget to Follow Us and Vote from Our Profile. Voters Will Also Get a Share of a Major Cryptođ
Looking at the exchange flows data from Coinglass, we can see a net positive PEPE inflow of $4.19 million yesterday. This suggests that whales are moving their cryptocurrency holdings to exchanges. This could mean that they are preparing to sell their assets, as exchanges are where trading usually takes place.
PEPE could find support around $0.00000700, representing a 10% drop from the current value. However, if this support fails, the price could fall another 22% to reach the August 5 lows around $0.00000585.
The ongoing whale selling and the increase in short positions are adding pressure and increasing the possibility that the $0.00000700 support level will fail to hold.
If the Pepe Coin price bounces off this support, holds at $0.00000700, and bounces back, it could be a signal of market strength and invalidate the current bearish thesis. The PEPE price could rally above $0.00000900 to form new monthly highs.
đ”đ”đ” Those Who Missed DOGS and Notcoin Telegram Bot Don't Be Sad, These May Be The Next Airdrops, Do It Before The Altcoin Bull Comes đ€đ€đ€
đ Frog: t.co/BcOb9Qok9e
đ Taman: t.co/GxklPOzv7r
đ Cats: t.co/nYGNUpWJKN
