Pepe Coin Price Could 7X as Whales Accumulate 10 Trillion PEPE
As December unfolds, the Pepe Coin price draws attention with its recent impressive performance. The meme-inspired token has surged to its highest levels in months, sparking optimism among investors. Fueled by increasing accumulation from crypto whales, the PEPE price could rally up to 7x. Notably, 10 trillion tokens have been acquired, signaling a bullish outlook. Market observers are now closely monitoring its trajectory, with expectations of further gains in the coming weeks.
Pepe Coin Price Explosion Likely as Whales Accumulate 10 Trillion PEPE
The whale activity surrounding Pepe Coin price has sparked optimism among investors, pointing toward bullish momentum. The santiment data reveals a sharp decline in the supply of PEPE on exchanges. This decrease indicates reduced selling pressure as holders transfer tokens to private wallets. The number of non-exchange addresses holding Pepe coin has surged, signaling increased interest from whales, whose market influence can often drive substantial price shifts.
Large investors have accumulated nearly 10 trillion PEPE tokens, suggesting long-term confidence in the asset’s potential. This accumulation trend aligns with historical patterns before price rallies as tokens moved off exchanges.
Santiment
With an overview of the exchange supply and rising whale involvement, analysts predict a potential upward trajectory for PEPE.
PEPE Price Prediction: Can This Meme Coin 7x?
The value of PEPE surged past $0.00002, hitting a significant milestone after breaking its prior all-time high of $0.00002524 on November 14, 2024. This remarkable rally represents a 120% increase in value over the month. Currently, Pepe is trading at $0.00002032, reflecting a minor pullback of 3% from recent highs.
The weekly price chart highlights the formation of a bullish engulfing pattern, signaling a continuation of upward momentum for Pepe Coin price.
The bullish pennant measures approximately 1,858%. Applying this percentage projection from the breakout point sets a target of $0.000151.
If the bullish pennant confirms, the top meme coin is expected to aim for $0.00015100, representing a potential 658% gain from the breakout point.
The bullish outlook would be invalidated if the Pepe Coin price falls below the pennant’s lower trendline, closing decisively below $0.00001650. Such a move could indicate a shift in market sentiment, leading to potential downside risk.
Pepe Price chart By TradingView
In conclusion, The broader market surges, with the Bitcoin price eyeing the $100k value, Pepe Coin price shows strong bullish potential. Whale accumulation of 10 trillion PEPE suggests confidence in sustained growth. The bullish pennant projection targets a 7x price increase.
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Filed under: News - @ December 2, 2024 12:13 pm