š PEPE Coin Hits New Price Record
On Monday, PEPE Coin experienced a significant surge, outperforming other altcoins during a period ofĀ marketĀ stabilization. The leadingĀ meme tokenĀ saw itsĀ priceĀ climb by more than 15%, reaching an unprecedented high of $0.00001128.
šø PEPEās 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 PEPEās 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 initialĀ investment.
šø 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 thatĀ investorsĀ could be anticipating a larger movement or potential correction in PEPEās price. If overall supply restricts further gains, the support trend line will be vital for buyers aiming to maintain the recovery trend.
šŗ Key Takeaways for Investors
ā PEPE Coinās price reached an all-time high of $0.00001128.
ā Profit-taking activities by whales could signal upcoming market movements.
ā The support trend line is crucial for sustaining PEPEās upward momentum.
As the cryptocurrency market evolves, investors should closely monitor PEPEās price movements and whale activities to make informed decisions.