Coinspeaker Fresh Whale Just Makes Big Bet on Ondo and PEPE
Despite Bitcoin BTC $103 761 24h volatility: 1.1% Market cap: $2.06 T Vol. 24h: $92.56 B price creating a new all-time high, the broader market has had a slow start to this week. The meme coin and DeFi market cap witnessed a sharp pulldown amid the dropping momentum. This slowdown reflects a lack of immediate bullish triggers in the broader market.
The DeFi crypto market cap has lost 4.73% over the last few days and is now $131.87 billion. Meanwhile, the meme coin market cap has slipped from its peak of $137.06 billion to $116.86 billion over the past week. This decline highlights the volatility often associated with these markets.
New Whale Adds Ondo Finance and PEPE
Despite the sudden drop in DeFi and meme tokens, two blue-chip tokens have recorded a fresh whale entry. The whale has purchased PEPE PEPE $0.000023 24h volatility: 1.9% Market cap: $9.66 B Vol. 24h: $2.62 B and Ondo ONDO $2.00 24h volatility: 10.4% Market cap: $2.88 B Vol. 24h: $918.31 M in a newly created wallet address on the BingX exchange. Such large-scale purchases by whales often signal strategic accumulation.
In the past few hours, the whale has acquired 519.34 billion PEPE tokens worth $12.16 million and 5,825,243 Ondo tokens worth $11.93 million. The whale’s fresh entry into Ondo and PEPE reflects growing support despite short-term hiccups in the crypto market. These transactions reinforce confidence in specific tokens.
In recent news, Donald Trump’s World Liberty Finance has purchased $250,000 worth of Ondo tokens. This reflects Donald Trump-backed WLF’s growing support for DeFi tokens. Such developments add a layer of institutional interest to the ongoing DeFi narrative.
Ondo Price Targets $3 amid Bull Run Chances
In the 4-hour chart, the Ondo price action showcases a bullish breakout of a falling channel pattern. The breakout rally now accounts for a price jump of 55.67%, from the low of $1.29 to the current market price of $2.01. This strong recovery signals renewed investor confidence.
Creating an all-time high of $2.14, the Ondo token is sustaining dominance over the $2.00 psychological mark. With the ongoing breakout rally gaining momentum, the trend-based Fibonacci levels paint the price target at $2.42 or the 100% Fibonacci level. If the rally continues, higher targets seem achievable.
Furthermore, the $1.618 Fibonacci level highlights the $3.00 psychological mark as a potential target by the end of December if the broader market recovers. The positive trend in the MACD and signal lines, with fresh bullish histograms, supports the possibility of a bullish trend. These technical indicators strengthen the bullish outlook.
Pepe Coin in a Triangle Trap Eyes a 28% Breakout Run
In the 4-hour chart, the PEPE price action showcases a new negative cycle within the descending triangle pattern. Approaching the 100-day moving average line, the meme coin has dropped by 2.55% over the past four hours. The bearish pressure remains evident in the short term.
PEPE is trading at $0.00002317 and inching closer to the local support trend line. The price drop has resulted in a bearish crossover in the MACD and signal lines, threatening a bearish continuation. However, there are signs of potential recovery.
The 4-hour RSI line reflects a bullish divergence at $0.00002970. If the broader market recovers, the chances of an uptrend continuation increase. Such divergences often serve as early signs of trend reversals.
Based on the Fibonacci levels, the triangle breakout rally could result in a new all-time high at $0.00002970. In a bearish continuation, the crucial support levels are $0.00002240 and $0.00002129. These levels will play a key role in determining the short-term direction.
Conclusion
In conclusion, with the fresh entry of a large whale in PEPE and Ondo, the price action reflects underlying optimism. With Ondo creating a new all-time high, PEPE is preparing for a breakout rally if market conditions improve. Such movements are often precursors to larger market trends.
Until then, the whales will likely acquire Blue Chip, meme, and DeFi tokens at cheaper rates in preparation for the next rally. This period may provide opportunities for strategic investors.
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Fresh Whale Just Makes Big Bet on Ondo and PEPE
