🚨 Alert for PEPE Holders: Whale Dumps 700B Tokens
In the current bearish market, top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) have seen significant declines. Amid this downturn, a whale wallet address, 0x837, sold 700 billion PEPE tokens worth $7.8 million to Binance, according to Lookonchain.
Despite this massive sale, the whale still holds 800 billion PEPE tokens valued at $9.23 million, with a loss of around $3.5 million due to the current lower prices. Surprisingly, the PEPE price surged 11% following the sale, reaching $0.0000116. Over the past week, PEPE's price jumped 12%, although it remains down by 21% over the last month.
Trading volume for PEPE increased by 77% to nearly $1 billion, and open interest (OI) rose by 20%, indicating strong investor interest and potential bullish momentum.
Technically, PEPE looks bullish as it moves above the 50 and 200 Exponential Moving Averages (EMA) on the daily chart. A strong daily close above $0.0000126 could trigger a 15% surge, potentially reaching $0.0000144.
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