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📈 PEPE Coin Hits New Price Record
On Monday, PEPE Coin experienced a significant surge, outperforming other altcoins during a period of market stabilization. The leading meme token saw its price climb by more than 15%, reaching an unprecedented high of $0.00001128.
🔸 PEPE’s Upward Momentum
The upward trajectory of PEPE Coin is supported by a trend line on the daily chart. From $0.00000393, the dynamic support climbed to $0.00001096 within a month, marking a 178.85% gain. This week, PEPE broke its previous high of $0.00001084, reaching a new peak at $0.00001128. However, a more sustained rise may require the daily candle to close above the broken level.
Additionally, analytics firm SpotOnChain noted significant profit-taking by whales following PEPE’s record surge. The first PEPE holder, known by the wallet address 0x647, deposited 250 billion PEPE tokens ($2.69 million) to Binance. This investor still holds 42.4 billion PEPE, valued at $424,000, achieving a profit of $3.96 million, an increase of 8,833% from the initial investment.
🔸 Whale Activity in PEPE
Another notable whale, linked to the 0xa4f wallet, moved 123.7 billion PEPE, exchanging it for $1.31 million in USDC, earning a 20.5% profit of $223,000 within three days. Such major transactions suggest that investors could be anticipating a larger movement or potential correction in PEPE’s price. If overall supply restricts further gains, the support trend line will be vital for buyers aiming to maintain the recovery trend.
🔺 Key Takeaways for Investors
– PEPE Coin’s price reached an all-time high of $0.00001128.
– Profit-taking activities by whales could signal upcoming market movements.
– The support trend line is crucial for sustaining PEPE’s upward momentum.
As the cryptocurrency market evolves, investors should closely monitor PEPE’s price movements and whale activities to make informed decisions.
