$PEPE Market Tremors! A Whale Sweeps Up $8.5 Million in 30 Hours!
Recently, something big happened in the PEPE market. A whale deposited 427 billion PEPE into the Kraken exchange in just 30 hours, equivalent to $8.5 million, causing waves in the market.
This whale holds an astonishing total of PEPE, reaching 1 trillion pieces, valued at $18.4 million. It has made a lot of money from PEPE, with the latest operation netting $2 million. Previously, it had accumulated profits of $11.7 million, clearly optimistic about the future of PEPE.
But looking at the current price of PEPE, it is $0.00001782 per piece, having dropped 10.18% in 24 hours.
Some might wonder if the whale’s actions mean a rebound is coming. Or is it that the resistance above is too strong, preventing any upward movement?
The price trend of PEPE is indeed gripping; it is testing a key support level, just around $0.00001701. If the price can stabilize, it might surge to the high of $0.00002196. But if too many people sell off, PEPE needs to be cautious about falling.
Regarding network growth, it has indeed been a bit slow lately, with user numbers and trading volume declining, which is usually a calm period after significant price fluctuations.
However, this is only temporary. In the long run, whether this whale's big moves can drive network growth and boost investor confidence is key to determining the price trend.
From a technical indicator perspective, the parabolic SAR indicates that the price is still rising, with the current trading price of PEPE at $0.00001781, showing decent momentum.
However, on the directional movement index, the bears still hold the advantage, although the trend strength is not strong. If buyers can put in more effort, the bulls might just turn the tide.
Whether it’s a rebound or a blockage depends on the buyers’ performance in the coming days.
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