The post PEPE: Evaluating if $3.74M whale action can spark a breakout appeared on BitcoinEthereumNews.com.

Whale accumulation and holder positioning suggest a potential bullish reversal is brewing. Technical breakout and rising NVT ratio hint at strong upside momentum building. A fresh whale wallet just withdrew 492 billion Pepe [PEPE] tokens, worth approximately $3.74 million, from Binance. At press time, PEPE was trading at $0.000057341, posting a mild 0.34% increase over the past 24 hours.  Despite this modest gain, the whale activity signals strong confidence in future price appreciation and likely long-term holding. Therefore, this strategic withdrawal may be setting the stage for a potential bullish reversal as technical and on-chain indicators begin to align. Are most PEPE holders underwater or… On-chain data shows that over 63% of PEPE holders are currently at a loss, while only 19.17% are in profit. Additionally, 17.15% of addresses are holding PEPE at breakeven levels. This indicates that a bullish push could lead to significant selling pressure from these holders. However, such selling pressure might also drive upward momentum if matched by continued whale accumulation and increased demand. As a result, price movement at these levels will play a crucial role in shaping overall market sentiment. Source: IntoTheBlock A reversal or a fakeout ahead? PEPE has formed a textbook inverse head and shoulders pattern on the daily timeframe, which often precedes a bullish breakout. The pattern is taking shape right beneath a long-standing descending trendline, suggesting a breakout is imminent.  Key resistance lies around $0.00000884, and a successful close above this level could send the price soaring toward $0.00001146. However, failure to break this neckline may lead to consolidation or a dip toward the $0.00000565 support zone. Source: TradingView Why the NVT ratio spike could matter more than you think Santiment data reveals a sharp increase in PEPE’s NVT ratio, reaching 321.77—a substantial rise from prior levels. This indicates that…

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Filed under: News - @ April 2, 2025 11:23 am