The post PEPE Coin Faces Significant Market Movements appeared on BitcoinEthereumNews.com.

In 2022, the cryptocurrency market experienced considerable upheaval due to the Terra and FTX incidents, causing Bitcoin to plummet from over $69,000 to under $20,000. However, as 2023 unfolded, the market began recovering, sparking renewed interest in meme coins. PEPE Coin, entering the market during a period of stagnation, has since seen a long-term decline following its peak in May. PEPE Whales Take Action PEPE Coin was significantly impacted by the market drop on August 4, seeing its price fall from $0.000012 to below $0.00006. Although it managed a slight recovery, it continued to consolidate in line with the broader market trends. Recently, PEPE tested the $0.00001 level again, but its decline persisted. Access NEWSLINKER to get the latest technology news. Despite these downturns, notable events unfolded when a massive crypto whale transferred 9 trillion PEPE (worth approximately $64.5 million) from the Bybit exchange to their wallet. This transfer intrigued the market, as withdrawals to personal wallets often indicate long-term confidence and can inspire small investors, potentially spurring a rise in prices. PEPE’s ATH and Subsequent Events Since reaching its all-time high (ATH) of $0.00001718 in May, PEPE Coin’s price has sharply declined and is now over 58% below its peak. Initially, its price dropped below the 20-day EMA at the start of June, and in the ensuing three months, it lost all its averages, including the 200-day EMA. Currently, PEPE trades at $0.00000712, having dropped 6% in the last 24 hours, which further distances it from significant levels. Its market cap has fallen below $3 billion, although whale activities have pushed its trading volume up by 23%, surpassing $450 million. Key Takeaways Investors should consider the following points regarding PEPE Coin’s market movements: Significant whale movements suggest potential long-term confidence in PEPE Coin. Market participants should monitor economic and…

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Filed under: News - @ September 4, 2024 1:25 pm