PEPE whales sold off a huge amount, and 396 billion tokens caused market fluctuations-sell signal or new opportunity?
This morning, the chain analysis company Lookonchain released news that a PEPE whale sold up to 396 billion PEPE tokens on Binance, worth $3.4 million. The whale made a profit of more than $5.06 million in this transaction, with a return on investment of nearly 200%. Despite this, the whale's holdings have been cleared. Does this huge sell-off mean that the market is about to usher in a new decline?
Market reaction:
After the last large-scale whale sell-off, the price of PEPE plummeted by more than 16%. Although this sell-off did not trigger similar violent fluctuations, investors still need to be wary of potential price correction risks.
Price analysis and prediction:
The current PEPE price is stable at around $0.0000083, a slight increase of 2% in 24 hours. Despite the whale's shipments, the increase in trading volume shows that market participation is still active. From a technical point of view, PEPE has broken through the 200-day EMA and entered an upward trend. If the price can stay above the 200-day EMA in the next few days, it is expected to rise to $0.0000127.
Lao Lin posted: The big move by PEPE whales has undoubtedly focused the market's attention on this token again. Is it a panic sell-off or a hidden opportunity? Only by paying attention to market trends can you grasp the best trading opportunities. Continue to follow Lao Lin and bring you the latest market dynamics and in-depth analysis every day to help you move forward steadily in the volatility, seize market opportunities, and create considerable profits!
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