Pepe Coin, the popular frog-themed meme cryptocurrency, has defied market expectations, soaring by 12% despite a significant 702.9 billion token dump by market maker Wintermute. This move, which saw nearly 703 billion PEPE offloaded to Binance, initially sparked bearish concerns but ultimately didn't hinder the coin's upward momentum.
Wintermute's Massive Dump On July 9, Wintermute transferred 702.9 billion PEPE, valued at $6.59 million, to Binance, causing a temporary 3.4% drop in PEPE's price. However, the token quickly rebounded, demonstrating resilience and sparking renewed investor interest. Bullish Signals and Market Dynamics
Key factors contributing to PEPE's rally include: Smart Money Moves: An address known for its successful PEPE trades, holding 512 billion coins, chose to hold rather than sell, signaling confidence in the token's future.
Whale Accumulation: Whale Alert reported a significant buy of 9 trillion PEPE, worth $83.25 million, adding substantial buying pressure.
Market Trends: PEPE's price rose 12.45% to $0.000009364, with 24-hour highs and lows of $0.000009555 and $0.000008238, respectively. Futures OI increased by 4.14%, and derivatives volume surged by 40.67%, indicating a strong market uptrend.
Positive Technical Indicators: PEPE traded above the 200-day SMA, and the number of holders grew by 5.76% in the past month, suggesting that investors are buying the dip.
Conclusion Despite Wintermute's massive sell-off, Pepe Coin's impressive 12% rise highlights its potential and resilience in the crypto market. With strong investor confidence, significant whale activity, and favorable technical indicators, PEPE continues to capture attention and optimism among traders. #PepeCoinToTheMoon#PEOPLEbullish#PEOPLEpump#pepe⚡#BinanceTurns7
BTC Price Action: A Rebound Amid Market Turbulence
After Thursday's heavy selling pressure, Bitcoin has bounced back impressively. As of now, $BTC has surged 4.5% from its low of $53,500 to $56,500, boasting a market cap of $1.114 trillion. This rebound is driven by robust inflows into spot Bitcoin ETFs on Friday. Following minor outflows earlier in the week, Bitcoin ETFs saw $143 million in inflows, led by Fidelity.
This indicates strong institutional interest despite the recent market dip.
The big question: Can Bitcoin bulls push the price beyond $61,000, or will the bears retain control? The next few days will be crucial for BTC's trajectory.
In the past week, the price of the popular altcoin Shiba Inu ($SHIB ) has surged over 10%, driven by the burning of approximately 360 million SHIB tokens. This notable event has had a significant positive impact on the altcoin’s market dynamics.
Sharp Increase in Weekly Token Burn Rate According to Shibburn, a platform that monitors SHIB token burns, a total of 360.35 million $SHIB tokens were burned over the past seven days, resulting in a 418% increase in the weekly token burn rate. This dramatic rise has fueled positive market sentiment, contributing to the upward movement in SHIB’s price.
Currently, the total supply of SHIB is estimated to be around 589.27 trillion tokens. Additionally, another 3.84 million tokens were burned today. Although Shiba Inu’s price trend had shown signs of weakening recently, the increase in the token burn rate and signs of market recovery have positively influenced its price.
Market Recovery for Shiba Inu
Shiba Inu is now trading in the green zone, having recovered from recent losses. In the last 24 hours, SHIB’s price has increased by 17.30%, reaching $0.00001539. The intraday low and high were recorded at $0.00001296 and $0.00001546, respectively.
Mixed Signals Ahead
Despite the positive price movement, there are mixed signals for Shiba Inu. The open interest in $SHIB futures has risen by 8.45% to $34.53 million, indicating growing investor interest. However, the trading volume in derivatives for the altcoin has decreased by 28.62% to $213.20 million.
The Relative Strength Index (RSI), a key technical indicator, is currently at 30, suggesting downward pressure on the altcoin. These mixed indicators suggest that the future price movement of SHIB remains uncertain. #shiba⚡
Massive Dogecoin Transaction Alert: 90 Million $DOGE Transferred from Binance! A major transaction has just been detected involving Dogecoin ($DOGE). A staggering 90,000,000 $DOGE, valued at approximately $10,000,124 USD, has been transferred from the cryptocurrency exchange Binance to the address DGmzv39riELTuigZCUD6sWoHEHPdSbxdUB. Key Details: • Amount Transferred: 90,000,000 $DOGE • Current Value: $10,000,124 USD • Sending Address: Binance • Receiving Address: DGmzv39riELTuigZCUD6sWoHEHPdSbxdUB Stay tuned for more updates on this significant transaction and its potential impact on the market. Does this meet your requirements, or would you like any adjustments?