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PEPE Whales Go On Massive 720B Shopping Spree Amid Campaign For New ATHs, Is It Time To Get In?

Pepe (PEPE) has recently grabbed the headlines, having hit a new all-time high (ATH) this week. The meme coin has also drawn the attention of crypto whales who have accumulated the crypto token lately. Whales accumulating the meme coin will suggest that now might be a good time to buy PEPE, but that might not be the case. 

Crypto Whales Buy 720 Billion PEPE Tokens

On-chain analytics platform Lookonchain recently drew the crypto community’s attention to a whale who purchased 520 billion PEPE from the crypto exchange Binance. This move might, however, have been motivated by the fear of missing out (FOMO), as Lookonchain noted that this trader hasn’t always made the smartest investment moves, having lost $6.1 million so far. 

Meanwhile, on-chain data shows another whale who bought over 200 billion PEPE tokens through the trading firm Cumberland. Irrespective of their intention, crypto whales accumulating a crypto token usually paints a bullish outlook for the coin in question. Based on this, crypto investors will usually assume that this is an excellent time to buy the meme coin in expectation of further price surges. 

However, this might not be a good time to buy, as data from IntoTheBlock suggests that a price dump may be imminent for PEPE before it makes another move to the upside. The market intelligence platform revealed that 100% of PEPE holders were in profit thanks to the meme coin hitting a new ATH.

Given such development, many of these holders are expected to book profits from their PEPE investment, leading to a wave of sell-offs that could negatively impact the meme coin’s price. Therefore, those looking to invest in PEPE right now may be better off waiting for PEPE to bottom out from this selling pressure before purchasing the meme coin. 

Still Has Enough Bullish Momentum To Go

Crypto analyst and trader Rachid Crypto recently highlighted several factors that suggest that PEPE has yet to reach its peak. The analyst noted that the “mega meme cycle” and altcoin season are yet to begin. These are events that could still spark a further rally in the meme coin’s price. 

Furthermore, PEPE is yet to be listed on major crypto trading platforms like Coinbase and Robinhood. That means there is still a lot of liquidity that could flow into the meme coin’s ecosystem. PEPE’s price will likely enjoy an upward trend whenever these trading platforms decide to list the meme coin. 

Meanwhile, Rachid Crypto also stated that Ethereum will surpass its ATH, meaning that PEPE’s price will benefit from ETH’s run when this happens. PEPE’s price is known to have some correlation with Ethereum’s and will most likely enjoy a significant rally as Ethereum’s price picks up. 

At the time of writing, PEPE is trading at around $0.00001056, down over 5% in the last 24 hours, according to data from CoinMarketCap. 

PEPE price chart from Tradingview.com

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GameStop Stock And Wolverine Memecoins Explode As Roaring Kitty Returns To The Spotlight

GameStop, the video game retailer that took Wall Street by storm in 2021, has once again become the talk of the town as its share price surges 100%. 

Fueling this rally is the return of the influential social media figure Keith Gill’s “Roaring Kitty.” After a long hiatus, Roaring Kitty’s recent activity on social platforms, including an image and video, has ignited excitement among investors and triggered a renewed frenzy for GameStop’s meme stock and the emerging world of memecoins. 

GameStop Memestock Frenzy

The meme-stock phenomenon gained widespread attention in 2021 when cash-rich investors pumped up the stock market and bet against short-selling hedge funds. 

Keith Gill’s “TheRoaringKitty” account and the subreddit “WallStreetBets” played a pivotal role in the meme stock frenzy, driving stocks like GameStop and AMC Entertainment to surge over 1,000% by the end of the same year. 

While some early investors reaped rich returns, hedge funds such as Gabe Plotkin’s Melvin Capital Management suffered significant losses, leading to closures.

According to Bloomberg, short sellers betting against GameStop initially enjoyed gains in the year’s first four months. Still, the volatile nature of meme stocks quickly erased those paper gains. Per the report, “skeptics” were up an estimated $400 million from January to April before slipping into the red by Monday morning.

The percentage of GameStop shares sold short relative to those available for trading has remained at approximately 24%, a relatively high level for a typical company but significantly lower than the 140% levels witnessed during the 2021 mania. 

As GameStop’s shares gained momentum, the cost to bet against the company increased. Recent data from S3 indicates borrowing costs exceeding a 10% annual financing fee range.

Roaring Kitty’s Ripple Effect

Roaring Kitty’s influence extended beyond GameStop, as Wolverine-themed memecoins flooded various blockchains. In response to a social media post featuring a video of Marvel superhero Wolverine, more than 30 new tokens were launched on platforms like Ethereum and Solana, as data by Dextools shows. 

Notably, the newly minted “Roaring Wolverine” token on the Ethereum blockchain experienced an astonishing 80% surge within hours of its release.

Furthermore, the memecoin market has witnessed a notable resurgence, with tokens such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Floki Inu (FLOKI), and Bonk Inu (BONK) recording significant gains, according to CoinGecko data. 

For instance, PEPE, the market leader, surged by 15% in the past 24 hours, complementing its 20% uptrend over the previous week. It reached a new high of $0.00001077 during early Monday trading.

GameStop

Ultimately, GameStop’s meme stock resurgence, fueled by the return of Roaring Kitty, inflicted substantial losses on short sellers of the meme stock on Monday. 

The impact of Roaring Kitty’s social media presence has extended to the memecoin market, with several Wolverine-themed tokens experiencing significant surges. 

Featured image from Shutterstock, chart from TradingView.com

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Crypto Whale Spends $10.4 Million On PEPE, Do They Know Something You Don’t?

A crypto whale’s transaction involving the third-largest meme coin by market cap, PEPE, has drawn the crypto community’s attention. The magnitude of the transaction, coupled with some other whale transactions, suggests that it may be high time to pay more attention to PEPE. 

Crypto Whale Spends $10.4 Million On PEPE

On-chain analytics platform Spotonchain revealed a wallet (3eAaAC3C9) that had purchased 1.238 trillion PEPE from Binance at an average price of $0.000008424 ($10.4 million). This wallet then proceeded to withdraw the tokens in two transactions. On-chain data shows that the whale withdrew 322.5 billion PEPE in the first transaction and the remaining 915.85 billion PEPE in the second transaction. 

At the time of writing, the whale hasn’t moved the tokens, suggesting they may be looking to hold for the long term. Some notable smart traders look to have been accumulating the meme coin lately, most likely in anticipation of significant price moves from it. Spotonchain also recently revealed two whales that had withdrawn 660.7 billion PEPE from Binance and MEXC. 

The platform also mentioned another whale that withdrew 322.48 billion PEPE ($2.68 million) from Binance for the first time. More recently, Spotonchain drew the crypto community’s attention to a smart trader who has been profiting from the meme coin since last year. This trader is said to have completed 8 trades and realized a cumulative profit of $917,000. 

Seeing how PEPE has performed since the start of the year, these whales’ interest in the meme coin isn’t surprising. Data from CoinMarketCap shows that PEPE has made a year-to-date (YTD) gain of over 500%, and this bullish momentum looks to be far from over. Interestingly, many traders have yet to jump on the the wave, as just over 200,000 persons hold the meme coin. 

Price To Hit New All-time High (ATH) Soon

Crypto analyst Plazma recently suggested that PEPE could soon hit a new all-time high. PEPE’s current ATH is at $0.00001074, with the meme coin trading just 20% below this price level. Crypto analyst Yazan also hinted that meme coin would soon hit a new all-time high, asking his followers if they were ready for this to happen. 

PEPE is currently ranked as the thirtieth largest crypto token by market cap and is likely to climb higher if it eventually hits a new ATH. Crypto analyst and trader Murad believes that the meme coin could rise to the top 10 crypto tokens by market cap since he predicted that PEPE could flip Shiba Inu (SHIB) and possibly Dogecoin (DOGE).

At the time of writing, the meme coin is trading at around $0.000008615, down in the last 24 hours, according to data from CoinMarketCap.  

PEPE price chart from Tradingview.com

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PEPE Chart Heats Up: Crypto Analyst Calls It One Of The Most Attractive

Cold Blooded Shiller (@ColdBloodShill), a well-known figure in the crypto analysis community, recently shared a technical analysis of the PEPE/USDT pair on Binance, marking it as one of the most promising charts in the current market landscape. With his analysis, posted to his 272,000 followers on X, he describes the potential movements of PEPE, both bullish and bearish, as it approaches a critical juncture on its trading chart.

Why PEPE Is One Of The Most Attractive Crypto’s Right Now

The chart, set on a four-hour time frame, details PEPE’s price action and its interaction with significant technical levels. A key focal point of Shiller’s analysis is the resistance-turned-support zone between approximately $0.0000063 and $0.0000062. This level, highlighted in green, previously acted as a strong resistance zone, and its conversion to support suggests a foundational shift in market sentiment towards PEPE.

PEPE price analysis

Moreover, PEPE is currently approaching a crucial resistance marked by a descending trend line in red, indicating a potential breakout point. However, Shiller cautiously notes that while the asset is on the verge of breaking this downtrend, there’s a risk of what he terms a “fakeout.” This scenario could see the price initially breaking above the trend line only to retract back below it, potentially leading to a decline of about 13% towards the established support zone at $0.0047423.

Should this support hold against market volatility—a common challenge in the crypto trading sphere—it may serve as a springboard for PEPE. Shiller speculates a possible rally that could result in a 47.47% increase from the support level, targeting an upper price level of $0.000011. Such a movement would not only confirm the strength of the current support but also signify a strong bullish market phase for PEPE.

The analysis also pays close attention to the Relative Strength Index (RSI) hovering near the 50 mark, a neutral territory that indicates the asset is neither overbought nor oversold. This positioning suggests the potential for significant price movement in either direction, emphasizing the importance of the upcoming potential breakout or fakeout scenario.

Cold Blooded Shiller’s analysis concludes with a nod towards taking a chance on PEPE if it begins to show signs of a firm breakout. His detailed observation and the technical markers he highlights suggest that, despite potential risks, the reward could indeed be substantial should favorable conditions prevail.

“PEPE [is] one of the sexiest looking charts out there right now. Consolidating above it’s former significant level. Does it have the chance for lower and some fuckery with a fakeout? Yes. Is it worth the opportunity shot if it starts to breakout? Absolutely yes,” he stated.

At press time, PEPE was trading at $0.000006976. Thus, the meme coin is approaching the 200-EMA at $0.000006677. If this support does not hold, a retest of the red support zone seems plausible.

PEPE price

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PEPE Preparing For A 54% Move? Analyst Thinks So

An analyst has explained how a PEPE daily close outside of a certain price range could lead its value to go on a rally of 54%.

PEPE Symmetrical Triangle May Hint At The Next Move For The Memecoin

In a new post on X, analyst Ali discussed the recent trend forming in the PEPE price. According to the analyst, the memecoin is currently forming a symmetrical triangle pattern on its one-day chart.

The “symmetrical triangle” here refers to a pattern in technical analysis (TA) that, as its name suggests, looks like a triangle. In this pattern, there are two lines of interest between which the asset’s price consolidates for a period.

The upper line connects successive tops, while the lower one joins together bottoms. The main feature of the pattern is that these two lines approach each other at a roughly equal and opposite slope (hence the “symmetrical” in the name).

There are other triangle patterns in TA, but those have either differently angled lines (as is the case with wedges) or one line parallel to the time-axis (ascending and descending triangles).

Like other TA patterns that represent a consolidation phase, the lines of the symmetrical triangle also serve as a point of potential reversal for the price. The upper line usually offers resistance (meaning tops can occur), while the lower line may provide support (bottom formation).

When a break takes place from either of these lines, the price may likely see sustained momentum in that direction. This implies that a break above the triangle could be a bullish signal, while one below may be bearish.

The symmetrical triangle may be viewed as a phase of the market in which the bulls and bears are at a standstill, hence why the price is ranging sideways. During a break, one of these wins out, and price action follows in that direction.

Naturally, as the lines converge towards a center point in this pattern, a breakout becomes increasingly probable the closer to the apex of the triangle the asset’s price gets.

Now, here is the chart shared by Ali that highlights the symmetrical triangle pattern that PEPE has been trading inside recently:

PEPE Symmetrical Triangle

As is visible in the graph, the 1-day price of PEPE has been approaching the triangle’s apex recently, implying that a break in a direction may be coming for the memecoin.

“Watch out for a daily close outside of the $0.00000793 – $0.00000664 range, which could lead to a 54% move for PEPE,” explains the analyst. Given the pattern that has been forming, it now remains to be seen how the asset’s price will play out from here.

PEPE Price

At the time of writing, PEPE is trading around $0.000006868072, up 3% over the past week.

PEPE Price Chart

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PEPE Ready To Jump? Crypto Analyst Forecasts 65% Price Surge – Here’s How

The PEPE meme coin has somewhat struggled in the past few months, failing to capitalize on the current bull run. However, the token seems to be experiencing some form of recovery lately, with its value seeing a significant increase over the past week.

While PEPE has obviously grabbed the attention of some investors, it also seems to be a cryptocurrency of interest amongst the experts. For instance, a popular crypto pundit on the X platform has sounded a buy alarm for the meme coin.

PEPE’s Price To Reach $0.0000017?

In a recent post on X, prominent crypto analyst Ali Martinez put forward a bullish prognosis for the price of PEPE. According to the analyst, the cryptocurrency’s current setup suggests that it is primed for a bullish run to the upside.

This bullish forecast revolves around the formation of an inverse head-and-shoulders chart pattern on the three-day timeframe. Typically, the head and shoulders price pattern depicts a bullish-to-bearish trend reversal and suggests that an upward trend is coming to an end.

PEPE

An inverse head and shoulders pattern, on the other hand, is a bullish chart formation that indicates a potential reversal of a downward trend. According to Martinez, PEPE’s price is currently forming a right shoulder of the inverse head and shoulders pattern, meaning that upward price movement is on the horizon.

Furthermore, the crypto analyst mentioned that the TD (Tom Demark) Sequential indicator has gone off, sounding a buy alarm for the PEPE meme coin. With this positive signal and the bullish chart formation, Ali Martinez anticipates a bullish trajectory for the cryptocurrency in the long term.

It would be logical to wait for a break and sustained close above the neckline before confirming the bullish thesis. In this case, investors could see the price of PEPE reach as high as $0.0000017, representing a potential 65% rise from the current price point.

PEPE Price

As of this writing, PEPE’s price stands at about $0.000001015, reflecting an almost 1% decline in the past 24 hours. However, the meme coin has managed to retain most of its profit on the weekly timeframe.

According to data from CoinGecko, the PEPE token has witnessed a 10% increase in the last seven days. From a broader perspective, though, the cryptocurrency has struggled to hit the heights it once occupied.

Since the turn of the year, PEPE’s value has slumped by more than 22%. Nevertheless, the meme coin boasts a market capitalization of roughly $428 million.

PEPE

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PEPE Ready To Make A Comeback? On-chain Indicators Have The Answer

The PEPE meme coin has seemingly faded into the shadow as new and exciting meme coins make it to the fore. This can be attributed to the likes of BONK and other Solana ecosystem meme coins that have taken the attention away from the Ethereum ecosystem. However, as excitement around these new meme coins begins to wane, expectations fall back to the leaders of the market, one of which is PEPE, who could be getting ready to make a comeback.

What On-Chain Indicators Say About PEPE

On-chain indicators are one way to know if investor interest is turning toward a particular cryptocurrency, in this case, PEPE. These indicators include things like Weighted Sentiment, Transactions Volumes, New Holders, etc. In this case, the focus is on the Weighted Sentiment, which measures sentiment across social media platforms to figure out how crypto investors are viewing a coin.

This indicator can be useful, especially in times like these when there are no clear indicators of where the price of a coin could be headed next. So, by checking what investors are saying about PEPE on social media platforms such as X (formerly Twitter), one can get a good idea of where the price may be headed next.

According to the Weighted Sentiment by the on-chain analytics tracker Santiment, PEPE is looking quite bullish. The indicator takes into account the mentions of PEPE on social media platforms over the past week, and it shows that there has been a significant uptick in the positive sentiment that is associated with the meme coin.

 

 PEPE

While it is not the highest that the indicator has been since the year began, it is still sitting at a considerably high level, suggesting a turn in the average sentiment. This also coincides with a drastic rise in the holdings of the largest PEPE whales, showing a willingness to accumulate at the current levels.

Daily Trading Volume Sees A Significant Jump

The Weighted Sentiment is not the only PEPE metric that has seen a significant increase lately. In the same vein, the daily trading volume for the meme coin has been on the rise as well. As data from CoinMarketCap shows, the meme coin’s volume is up approximately 62% in the last day, bringing it to $89.8 million at the time of writing.

Such a rise in volume can either point to buying or selling, but seeing that the PEPE price has managed to hold steady over this time period, it suggests that there is more buying than selling. Given this, it could point to bulls finally establishing support and marking $0.0000009 as a buy level.  If this general bullish sentiment continues, then the meme coin could be looking toward a recovery to $0.000001, which would translate to a 10% move from here.

Due to its decline over the last month, PEPE has lost its position as the third-largest meme coin in the space. It is currently sitting at fifth position behind the likes of BONK and CorgiAI.

PEPE price chart from Tradingview.com

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Searching For Hope: 70% Of PEPE Investors Hit Hard – What Now?

Meme coin PEPE navigated a turbulent week, experiencing a 14% price drop but finding solace in rising bullish sentiment and technical indicators pointing towards a potential rebound.

Investor Woes, But Whale Appetite Grows

NewsBTC’s analysis, using data from IntoTheBlock, revealed over 70% of Pepe investors currently sitting on losses, suggesting a challenging week. However, whales saw opportunity in the dip, with Santiment data showing a sharp increase in Pepe holdings by top addresses.

Bullish Buzz Despite Price Slump

Sentiment around Pepe took an interesting turn, defying the price decline. The meme coin’s Weighted Sentiment, tracked since February 1st, witnessed a rise, indicating growing optimism within the community. This positive buzz was further fueled by consistent social media engagement, reflected in high Pepe Volume throughout the week.

Exchange Activity Signals Caution

While whales accumulated, broader market selling sentiment weighed on Pepe. NewsBTC observed a drop in Exchange Outflow, suggesting investors moving their holdings off exchanges for potential selling. Additionally, a drastic increase in Supply on Exchanges coupled with a decrease in Supply outside of Exchanges painted a picture of potential selling pressure in the near future.

Technicals Hint At Reversal

Despite the recent price struggles, Pepe’s daily chart offered some positive signals. The MACD indicator hinted at a potential bullish crossover, suggesting a shift in momentum. The Relative Strength Index (RSI) neared the oversold zone, potentially triggering buying pressure if it enters that territory. The Chaikin Money Flow (CMF) also displayed an uptick, further reinforcing the possibility of a price increase.

Bears are currently attempting to push the price below a crucial support level of $0.0000009. If this level breaks, significant losses could occur, potentially dragging the price down to lows of $0.0000006 seen in September/October 2023, representing a decline of over 30% from current levels.

Community Strength Endures

Despite the market fluctuations, Pepe boasts a strong community presence, with over 154,000 individual holders and active communities on platforms like X (formerly Twitter) and Telegram, exceeding 500,000 followers and 60,000 members respectively.

The outlook for Pepe remains cautiously optimistic. While recent price drops and selling pressure raise concerns, bullish sentiment, technical indicators, and a strong community suggest potential for a reversal.

However, investors should carefully consider both positive and negative factors before making any investment decisions, acknowledging the inherent volatility associated with meme coins.

Featured image from Adobe Stock, chart from TradingView

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PEPE Inks 46% Weekly Gain – Can It Leap To The $1 Jackpot?

Struggling to make significant upward strides, the PEPE price might touch $0.0000020 in the next few weeks, grappling with the challenge of surpassing this particular threshold.

Predicting the long-term trajectory remains elusive; achieving the $1 mark for PEPE requires an extraordinary surge from its present level, a feat that would position PEPE among the most lucrative meme coins in history.

Meme tokens, lacking robust fundamentals and utility, consistently face the looming threat of being overshadowed by newer, trendier counterparts.

Hence, while a modest increase to $0.0000020 in the near future appears plausible, surging beyond this may prove to be a formidable hurdle for the PEPE price.

Mastering Timing In Meme Token Investments

Investors are cautioned to tread carefully, as meme tokens like PEPE are prone to significant acquisitions by large investors, followed by subsequent dumping. Despite PEPE’s overall growth potential, substantial downturns are anticipated to be a recurring pattern.

Recognizing the pivotal role that timing plays in the realm of cryptocurrency investments, it becomes evident that the significance of choosing the opportune moment cannot be emphasized enough.

The dynamic and often unpredictable nature of the crypto markets amplifies the impact of timing on investment outcomes, presenting a delicate balance between seizing potential opportunities and navigating potential risks.

Meanwhile, data from Santiment sheds light on a significant milestone in the world of cryptocurrency. Specifically, the number of distinct addresses engaged in PEPE transfers has surged to an unprecedented all-time high, maintaining this elevated status for an impressive 25 consecutive days.

This surge in unique addresses participating in PEPE transfers not only underscores a heightened level of activity but also suggests a sustained and robust interest in the PEPE cryptocurrency ecosystem.

PEPE’s Strong Chart Signals Anticipate Bullish Surge

On another positive note, PEPE’s chart currently exudes strength, with indicators hinting at imminent gains. The convergence of PEPE’s 30-day moving average and its 200-day average is on the horizon, potentially signaling a ‘golden cross,’ a phenomenon often associated with breakouts.

Simultaneously, the Relative Strength Index (RSI) for PEPE hovers near 70, indicating sustained buying pressure that is likely to propel the altcoin’s value upward in the coming days.

Supporting this optimistic perspective is the consistent elevation in trading volume, a clear indication that significant market players are actively accumulating PEPE.

This heightened trading activity suggests a palpable anticipation among major investors, as they position themselves strategically to capitalize on anticipated future price surges.

Despite a recent indication of sluggishness, PEPE remains resilient, boasting a 46% increase over the past week and a solid 20% rise over the last four weeks.

People were shocked when PEPE reached a market cap of $1 billion only one month after it came out. During this time, the meme coin rose to its all-time high of $0.000004354. Because of this, it became famous and was added to well-known cryptocurrency exchanges like Binance.

Today, with a market cap surpassing $670 million, PEPE continues to attract attention, and its 24-hour trading volume, nearing $400 million, indicates the potential for further rallies in the days to come.

As PEPE demonstrates notable gains, the prospect of reaching the $1 jackpot adds an element of anticipation.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Shutterstock

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SHIB Will Lose Place To PEPE In New Bull Cycle, Analyst Makes The Case

The crypto market is constantly in motion; there is a potential shift in SHIB and its position in the nascent sector. An analyst presented a bullish case for PEPE, which could directly impact SHIB’s position in the meme coin market.

As of this writing, PEPE has considerably outperformed SHIB and other memecoins. PEPE records a 14% increase in the last 24 hours alone and a 90% increase over the past two weeks, while SHIB records an 18% profit over the same period.

Shiba Inu SHIB SHIBUSDT

SHIB Investors Should Fear PEPE’s Impact?

An analyst believes that PEPE’s current price action will extend beyond the early stages of the current Bull Cycle, following a successful break out beyond the 7730 and 8127; as seen in the chart below, the cryptocurrency hit a critical resistance level. The analyst stated:

$PEPE That was a quick move upon retaking the range. First target at 10800 reached but ultimately I am holding a spot bag of this for the cycle to come. Still stand by the idea that $PEPE will be this cycle’s $SHIB.

SHIB PEPE SHIBUSDT PEPEUSDT SHIB Price PEPE Price

However, the analyst believes that PEPE’s rally is barely starting. The cryptocurrency reclaimed an important area and could continue to climb beyond its all-time high and into uncharted territory during the bull cycle.

Altcoins To Watch In Upcoming Cycle

PEPE is one of the altcoins the analyst is keeping an eye on. In addition to the meme coin, the trader expects the NFT and staking sectors to bloom in the coming months.

Apecoin’s APE and LidoDAO’s LDO have been rallying due to the current bullish momentum in the market. LDO alone could hit the $2 target in the short term and continue its run higher into the $3 territory.

Other cryptocurrencies to watch if these sectors trend to the upside are ETH, DOGE, BLUR, and ORDI. On APE, the analyst stated:

APE So far so good. Pretty strong and about to test an important high timeframe resistance area. Clear this and I think we can look for ~$1.8 next. If NFTs bounce as well that would help this.

As of this writing, APE is trading at $1.3 with a 25% profit in the past two weeks.

SHIB price SHIBUSDT PEPE APE LDO

Cover image from Unsplash, chart from Tradingview

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PEPE Roars Ahead: Dominates SHIB And DOGE With Record-Breaking 6.9T Burn

In the ongoing frenzy surrounding meme coins that have captivated the cryptocurrency market throughout 2023, PEPE has experienced a significant resurgence. 

After a prolonged decline from July 14 to October 3, the memecoin halted its downtrend and entered an accumulation phase. Subsequently, it embarked on a renewed bullish uptrend starting on October 20, outperforming Ethereum-based altcoin Shiba Inu (SHIB) and Elon Musk-backed Dogecoin (DOGE) by a significant margin. 

As a result of this uptrend, PEPE has reclaimed its position in the top 100 list of cryptocurrencies, currently ranking 96th.

Bitcoin’s Surge Beyond $35,000 Sparks Market Uptrend

This surge in value has been largely influenced by the market leader, Bitcoin (BTC), which surpassed the $35,000 mark on Tuesday. 

For many, the current uptrend is driven by anticipation of the approval of a spot Bitcoin exchange-traded fund (ETF), which could potentially bring a new wave of capital into the market.

Furthermore, Dogecoin is among the five popular meme coins influenced by Bitcoin’s rise to $35,000. Shiba Inu also experienced a 5.9% gain and is currently trading at $0.00000765, following a similar pattern to DOGE.

In a significant development, the dev team behind PEPE announced on X (formerly Twitter) that approximately 6.9 trillion $PEPE tokens, worth around $6,000,000, have been burned. 

Additionally, a new team of advisors has been brought on board to guide the future direction of Pepe. The original team is exploring using the remaining 3.79 trillion tokens, attributed to the Centralized Exchange (CEX) multi-sig wallet, for strategic partnerships and marketing opportunities. 

The PEPE community can expect regular updates on future token burns, movements, or uses through Twitter and the official telegram channel.

PEPE Price Skyrockets By 25.83% In 24 Hours

As of today, the price of Pepe (PEPE) stands at US$0.000000930549, with a 24-hour trading volume of $455,035,042.79. This represents a significant price increase of 25.83% in the last 24 hours and a 43.63% increase over the past 7 days. 

With a circulating supply of 420 billion PEPE, Pepe currently holds a market capitalization of $398,014,904.

PEPE

On the other hand, SHIB is currently priced at $0.00000739, with a 24-hour trading volume of $314,695,140.13. 

Over the past 24 hours, SHIB has experienced a price increase of 2.72% and a 6.04% increase over the past 7 days. With a circulating supply of 590 billion SHIB, Shiba Inu has a market capitalization of US$4,348,847,496.

Meanwhile, DOGE is trading at $0.065989, with a 24-hour trading volume of $1,064,277,555.26. Over the past 24 hours, DOGE has seen a price increase of 3.02% and an 11.02% increase over the past 7 days. 

With a circulating supply of 140 billion DOGE, Dogecoin holds a market capitalization of US$9,327,269,145.

The recent price movements and market activities of these meme coins reflect the renewed confidence and interest in the cryptocurrency market. Furthermore, these numbers solidify PEPE’s position as the standout performer in the market.

Featured image from Shutterstock, chart from TradingView.com 

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What Is Behind The 16% PEPE Price Recovery And Will It Continue?

Over the last week, the PEPE price has emerged as one of the best performers in the crypto market. This followed a long period of drawdown that dragged the meme coin’s price almost 90% below its June 2023 all-time high. This prolonged bear period coupled with its declining momentum is why the price reversal has caught the market by surprise.

Social Discussions Around PEPE Rise

To figure out why the PEPE price has been on a rally at a time when the broader crypto market has suffered declines, let’s take a look at the social discussions around the token. In particular, a report from on-chain tracker Santiment shows the social media discussion trends of top meme coins.

Santiment’s report which was shared on X (formerly Twitter) points out that meme coins have not really been on the radar of traders, except for PEPE. As the chart shows, discussions around the PEPE meme token saw an uptick this week.

PEPE price recovery

It is the only meme coin whose social media discussions rose during the week with the likes of Dogecoin seeing their own metrics drop to 3-year lows. This uptick could present the reason behind the PEPE price recovery this week.

Usually, when investors start getting interested in a coin, they will often talk about it on social media platforms. Depending on whether investors are collectively bullish or bearish, it can cause a swing in the price toward either direction. In this case, the uptick in discussions coincides with the rise in price, suggesting a higher level of bullishness.

PEPE Price Rises 16% In One Week

PEPE’s double-digit surge this week saw the altcoin hit a local peak of $0.00000075 on Wednesday, resulting in one of its highest levels in September 2023. This rally has since lost momentum but the meme coin continues to maintain a good chunk of its gains.

The PEPE price is up more than 16% on the weekly chart and enjoying a 92% surge in its daily trading volume over the last 24 hours. This increase in trading volume also shines a light on the rising investor interest, which could suggest a continuation of the rally once the correction finds a bottom.

However, with most of the crypto market still deeply in the throes of the bear market, it’s unlikely that the rally would be able to continue for too long, presenting a hindrance. If the coin fails to establish support above $0.00000071, then all of this week’s gains could be wiped out by the time the weekend is over.

PEPE price chart from Tradingview.com

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Can Pepe Coin Bounce Back? Insights On Its Future Post-Critical Support Drop

Pepe Coin has been on a wild ride in early September, characterized by significant price volatility and a troubling dip in its performance. 

The price action of PEPE early this month followed a bearish pennant pattern, marked by two converging trendlines. This pattern typically signals indecision in the market, as buyers and sellers wrestle for control. However, the situation took a turn for the worse as the coin broke below its support trendline, increasing the pressure on the supply side.

As of the latest data from CoinGecko, the coin is trading at $0.00000067, showing a 3.9% loss in the past 24 hours and a substantial 14.4% decline over the past week. Most notably, PEPE has tumbled out of the coveted crypto top 100 list on CoinGecko.

PEPE Selling Pressure Intensifies

On September 10, PEPE suffered a bearish breakdown as it breached the support trendline. This development, coupled with a rising supply pressure across the altcoin landscape, resulted in a sharp decline in the value of PEPE. Investors and enthusiasts began to question the coin’s future as it struggled to maintain its position.

Adding to the concerns surrounding PEPE, a tweet from Lookonchain on September 11 drew attention to a peculiar event. Several investors opted to sell their PEPE holdings, swapping them for PNDC (Pandacoin). Three wallets collectively sold a staggering 1.38 trillion PEPE tokens for 600 ETH, equivalent to approximately $965,000. In a surprising twist, they reinvested 600 ETH to purchase 487 billion PNDC tokens.

On-Chain Metrics Paint A Grim Picture

A deeper look at PEPE’s on-chain metrics reinforced the growing unease within the crypto community. Buying pressure on the meme-inspired coin remained high, which, paradoxically, contributed to the bearish sentiment. Notably, PEPE’s supply on exchanges experienced a sharp increase over the past few days, indicating a surge in selling activity. 

What Lies Ahead For Pepe Coin?

This shift occurred simultaneously with a decrease in PEPE’s supply outside of exchanges, further highlighting the rising selling pressure. Moreover, PEPE’s exchange inflow witnessed a noticeable spike, while the total number of holders declined, painting a gloomy picture for the cryptocurrency.

PEPE’s early September performance has been nothing short of turbulent. Its journey from a bearish pennant pattern to a breakdown below support has left investors and enthusiasts concerned about its future. The notable wallet activity and on-chain metrics only serve to compound these concerns, leaving the crypto community with more questions than answers about the fate of PEPE in the coming days.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Massive PEPE Token Dump: Whale Unloads 762 Billion At Loss As Price Wobbles

PEPE, the meme coin that has garnered a cult following in the cryptocurrency world, made headlines once again as an anonymous whale, rumored to go by the name “Alleged Mattfurie,” executed a huge transaction. 

According to a new PEPE price update,  this enigmatic figure exchanged a staggering 726 billion PEPE tokens for approximately 345.7 Ethereum (ETH). What’s more, the acquired ETH swiftly found its way to the Coinbase exchange, adding intrigue to an already sensational move.

As of the latest data from CoinGecko, PEPE is currently valued at $0.00000078, with a 24-hour slump of 2.8% and a marginal seven-day loss of 0.1%. However, the impact of this whale behavior is sending ripples through the meme coin’s market dynamics.

PEPE’s price saw a brief 3.48% rise on September 7th, but it quickly dropped back to $0.0000007857. This likely indicates that a significant PEPE holder sold their 762 billion tokens at a loss.

PEPE Price Conundrum: Caught In A Triangle

PEPE’s journey in the world of cryptocurrencies has been nothing short of remarkable. It has not only become a symbol of internet culture but also a fascinating experiment in the world of decentralized finance. 

While the PEPE token continues to capture the imagination of traders, its price appears to be tightly ensnared within a converging triangular pattern. A separate report suggests that as long as this pattern remains intact, the coin’s price may persist in moving laterally over the coming days. This predicament leaves traders in a precarious position.

For traders with a bearish outlook on PEPE, the recent whale transaction may present an enticing opportunity. Some are considering the possibility of short-selling the coin, anticipating a potential breakdown. If this bearish sentiment takes hold, the report notes that PEPE’s price could tumble by as much as 10%, potentially retesting the psychological support level at $0.0000007.

Insights And Speculation Abound

The sudden influx of PEPE coins into the market has raised several questions about its potential impact. The cryptocurrency market, known for its unpredictability, continues to offer intrigue and speculation, with events like Alleged Mattfurie’s massive PEPE token exchange sparking intense discussions. 

While some view it as a simple profit-taking move, others see it as a signal of larger market shifts. The meme coin space, in particular, thrives on such dramatic twists, and PEPE enthusiasts remain divided on the implications of this whale’s actions.

In the world of cryptocurrency, where every move is scrutinized and analyzed, the PEPE whale’s exchange of 726 billion tokens for Ethereum serves as a reminder of the volatility and excitement that come with these digital assets.

As PEPE continues to occupy a unique niche in the crypto landscape, observers and traders alike eagerly await the next chapter in this ever-evolving story.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Pepe Coin September Challenge: Can It Reach $0.000001 Again?

Pepe Coin, the meme-inspired cryptocurrency, has faced a recent setback as it failed to sustain support at $0.00000078, casting doubts on its short-term rally prospects. The sellers’ inability to follow through on their downward pressure hints at some wavering in their conviction. The crucial question now is whether the uncertainty will pave the way for buyers to reclaim higher ground this month.

As of the latest data from CoinGecko, PEPE currently trades at $0.000000807186, reflecting a 2.8% increase in the past 24 hours. However, over the past seven days, the coin has experienced a 7.6% decline in value.

Price analysts suggest that if the daily candle manages to close above the critical level of 0.00000078, the recent breakdown could be deemed a “bear trap,” that might offer a glimmer of hope for PEPE enthusiasts.

A bear trap is a situation in trading where the price of an asset appears to be entering a bearish (downward) trend but then reverses and moves upwards instead. It “traps” or tricks traders who were expecting further price declines into selling their positions, only to see the price rise.

Challenges Ahead For PEPE

While the bullish momentum appears promising, PEPE’s recovery remains constrained within a falling channel pattern that has persisted for the past two months. To gain more confidence in the revival, buyers must breach the upper trendline of this channel. Such a breakout has the potential to catapult the meme coin past the coveted $0.000001 threshold.

In a separate report, worrying statistics emerge regarding the health of the PEPE network. Santiment’s latest data reveals an 83% drop in active addresses associated with Pepe (PEPE) over the past quarter. Additionally, both transaction volume and transaction count have experienced a significant downturn.

Despite the recent price rally and bullish sentiment, PEPE faces challenges ahead, primarily due to the persistent downward trend within the falling channel pattern. The failure to break free from this pattern could see the meme coin continue its downward trajectory.

User Exodus Spells Trouble For Pepe Coin

Date from Santiment cited in the report paints a bleak picture for PEPE as the network grapples with a sharp decline in active users. This alarming 83% decrease in active addresses highlights the waning interest in the cryptocurrency, possibly undermining its long-term viability. Moreover, the decrease in transaction volume and transaction count further compounds the network’s woes.

PEPE’s recent struggle to maintain support at $0.00000078 raises questions about its near-term prospects. While there is hope for a recovery, the coin remains trapped within a falling channel pattern. The critical breakout point lies ahead, and the crypto community watches eagerly to see if buyers can reclaim higher ground. 

Simultaneously, the exodus of active users and declining transaction metrics pose additional challenges for the future of PEPE, emphasizing the need for a sustained and robust recovery strategy.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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Crypto Currents: Can Whale Investors Bring PEPE Back In Action?

PEPE is garnering attention from major investors as the buzz surrounding the meme coin continues to grow. However, despite the increasing interest, these tokens are grappling with a persistently bearish sentiment, as their price performance remains lackluster.

In an interesting turn of events, a significant number of investors are beginning to cast their gaze upon PEPE. Lookonchain’s latest report reveals a notable occurrence – a user invested 27 ETH, equivalent to $45,000, to secure a staggering 50 billion of the frog-themed token.

More astonishingly, this same investor managed to acquire a jaw-dropping 5.9 trillion PEPE tokens for a mere 0.125 ETH, roughly valued at $251. 

This strategic move was followed by the sale of 3.95 trillion PEPE tokens, resulting in an impressive haul of 2,505 ETH, equivalent to $4.7 million.

Surge In PEPE Interest Amid Mixed Sentiment

Despite the glaring positivity in terms of investor activity, the overall sentiment surrounding PEPE tokens remains less than stellar. Lookonchain’s data cited in a price report indicates that social mentions related to the meme coin witnessed a solid 151.3% surge. 

Likewise, social engagements related to the coin also experienced a substantial uptick of 106.9% during the same period. This surge in interest could potentially pave the way for a more dynamic price movement for PEPE tokens in the future.

However, the buoyancy in social media activity was not mirrored in sentiment. Santiment, a prominent on-chain analytics firm, utilized a weighted sentiment indicator to gauge the general outlook of PEPE across various social media platforms.

This indicator painted a predominantly negative picture of the meme coin’s sentiment landscape, casting a shadow over the excitement surrounding the token.

Price Volatility On The Horizon

Santiment’s analysis also spotlighted a pivotal moment in PEPE’s journey – the transfer of a substantial 16 trillion Pepe tokens by the developers for sale on exchanges.

This move thrusts Pepecoin into the spotlight as the top trending crypto topic. However, Santiment’s cautionary note echoes concerns about heightened price volatility that may lie ahead for PEPE tokens, further complicating their price trajectory.

Meanwhile, PEPE is trading at a current price of $0.000000839460, with a 3.6% decline in the last 24 hours and a significant seven-day slump of 21.0%, as reported by CoinGecko.

As PEPE continues to captivate larger investors and experience a surge in social media interest, the prevailing negative sentiment and ongoing price struggles underscore the challenges facing this unique cryptocurrency.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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PEPE Price Spikes 10% Following Community Address On Rumored Rug Pull

The value of PEPE, one of the most promising assets in the second quarter of 2023, has been faltering in recent weeks. According to CoinGecko data, the meme coin has been in a 33.6% price decline in the last 14 days.

The PEPE price took a significant hit in the past week, tumbling by more than 20% in a matter of hours. This negative price action was triggered by the rumors of a rug pull orchestrated by the project deployers. 

On Thursday, August 24, about $16 million worth of Pepe tokens were moved from the developers’ multi-sig wallet to various crypto exchanges, spreading FUD (fear, uncertainty, and doubt) across the community.

The team behind the meme coin has now published an announcement, addressing the community on what happened in the past few days.

‘Three Rouge Ex-Team Members Responsible For $16 Million Withdrawal’

On Saturday, August 26, one of the anonymous developers behind the Pepe project shed more light on the mysterious $16 million withdrawal from the project’s multi-sig wallet via a post on the official X (formerly Twitter) account.

According to the team member, three ex-team members initiated a series of unexpected withdrawal transactions and transferred the “stolen” Pepe tokens to various crypto exchanges.

A part of the community address explained:

The multi-sig (wallet) was set up to require 3/4 signers present for an approval. Yesterday these 3 ex-team members came back behind my back, logged onto the multi-sig, stole 16 Trillion/ 60% of the 26 trillion multi-sig tokens, and sent them to exchanges to sale. They then removed themselves from the multi sig in an attempt to absolve any association to $PEPE, deleting all of their social accounts and leaving me behind nothing but a message stating “the multi-sig (wallet) has been updated, you are now in full control.”

The anonymous developer established that these former members have been difficult to work with since the inception of the Pepe project. “There has often been conflict, and the majority of the team involved in $PEPE creation started to distance themselves after the first week of project inception”, they said.

While apologizing for the inconvenience and losses caused by the “bad actors,” the project member claims that the remaining 10 trillion Pepe tokens in the multi-sig are “safe” and out of the reach of “nefarious” ex-team members.

Unsurprisingly, the online crypto community had mixed reactions to the project developer’s address. While some individuals seemed convinced by the team member’s account, others raised questions about the sincerity of the claims.

PEPE Jumps By Nearly 10% – Is A Recovery On?

The value of PEPE reacted positively to this address, surging by about 9.6% to reach $0.000000956641. Although it has experienced some correction, the meme coin’s price is still well (roughly 9%) above its seven-day low of $0.000000824545 reached in the early hours of Friday, August 25.

As inferred earlier, panic-induced selling was primarily responsible for the recent PEPE price crash. With confidence seemingly restored, investors will likely be banking on a price recovery.

Fortunately, the daily Relative Strength Index (RSI), an indicator that tracks the balance between the buying and selling pressure of a token, is in the oversold zone for the first time ever. When in the oversold region, the RSI often signals that a trend reversal is on the horizon.

According to CoinGecko data, PEPE currently trades at $0.000000898317, registering a 1.4% price jump in the last 24 hours. With a market cap of roughly $375.9, the meme coin is the 97th-largest cryptocurrency on the market.

PEPE

 

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PEPE Whale Exits After Making Over 54,000x Gain And $1.73 Million In Profit

One of PEPE’s early adopters is officially out after making over $1.7 million in profit, translating to a 54,725x gain in less than six months. In a tweet shared by Lookonchain on August 26, the meme coin trader bought 1.69 trillion tokens, spending roughly $36, minutes after the project was launched in late April 2023. However, by the time the trader exited, less than six months later, selling off all his tokens, he had realized a decent gain, raking in 1,001 ETH, or roughly $1.7 million at spot rates.

PEPE Whale Exits

Trackers reveal that the trader first sold 0.69 trillion before fully exiting and liquidating 1 trillion PEPE on August 26, pocketing $885,000 or 537 ETH, pushing his total haul to 1,001 ETH. Considering the pseudonymous nature of Ethereum from where PEPE started trading through Uniswap v3, the trader’s identity cannot be ascertained.

PEPE is one of the more successful meme coin projects in 2023. The token’s meteoritic rise–and crash–over the past couple of months illustrates its volatility. For the project’s early success and popularity, because of traders buying in and aiming to ride the trend mainly because of fear of missing out (FOMO), PEPE ended up being listed on several cryptocurrency exchanges, with support by Binance being the highlight.

Less than a week after being listed on Binance, PEPE soared 800% in early May before gradually falling as sentiment turned negative and holders began exiting, taking profits. The token peaked at $0.0000044839 and have since crashed 81% to $0.0000008674 as of August 26. This price level is an important reaction point marking June 2023 lows and is a primary support level. If bears press on, PEPE may fall to retest $0.0000004984, the opening price when the token began trading when it was listed on Binance on May 1.

PEPE price on August 26| Source: PEPEUSDT on Binance, TradingView

Meme Coin Trending, Team Transfers Tokens

While PEPE is a top-trending token on CoinMarketCap, a tracker owned by Binance, at the time of writing August 26, the whale opted to exit via Uniswap v3. Uniswap is a decentralized exchange (DEX) for trading multiple tokens, primarily those on Ethereum. It is the second last iteration of the DEX and uses concentrated liquidity. PEPE is also available on Uniswap v2, but most trading is concentrated on Binance and KuCoin, two of the world’s leading centralized cryptocurrency exchanges.

On August 25, the team transferred 16.045 trillion tokens (worth $16.85 million) from their multisig address to four exchanges, including Binance, leaving out only 10.697 trillion PEPE. The transfer also coincided with the multisig parameter changes. Only two signatories will be required to effect a transfer, down from five out of eight.