The post Pepe Coin: Whales on the Move, Time to Buy? appeared on BitcoinEthereumNews.com.

Pepe ($PEPE) has seen significant cryptocurrency wallet acquisitions in the cryptocurrency market recently. Meanwhile, nine wallets, believed to be those of a single entity or “whale,” have independently sent $13.8 million worth of DAI stablecoin to acquire around 555 billion PEPE coins. Over two hours, the transactions took place at an average price of $0.000025 per token. Whales are buying $PEPE! 9 wallets(likely belonging to the same whale) spent 13.8M $DAI to buy 555B $PEPE in the past 2 hours, with an average buying price of $0.000025. Address:0xfb67ef6fe609edab1e0595e6815634e8e4db9cf70xb2f1956eae0817db73c4d542a4861ee485b7e7c6… pic.twitter.com/UDVTBxb2aq — Lookonchain (@lookonchain) December 10, 2024 The whale’s significant investment hasn’t been sure to protect Pepe from market volatility. Pepe price has taken quite a dip over the past day. It dropped 18%, as opposed to recent patterns of aggressive buying. Many casual observers will view this as a bearish signal. However, there is still a significant acquisition by known large holders. This could suggest a contrarian view and perhaps a cheap undervaluation or future positive things that aren’t public yet. Analyst Predicts Downturn for PEPE Coin, Eyes Short Position Comments made on Twitter by a prominent cryptocurrency analyst have gotten traders and enthusiasts debating. – Advertisement – The analyst thinks the meme coin has topped now, indicating a likely market value dropping of Pepe coin after some decisive actions. The expert also hints that Elon Musk could also react to the following price movements. While the attached technical analysis chart demonstrates the trading pattern of PEPE coin over the last few hours, there are a few more things to mention about the meme coin’s fundamentals. The cryptocurrency is forming a descending channel and has been experiencing price fluctuations. Often, this pattern is interpreted as a continuation signal to look for further downward movement. Technical Analysis: Understanding Pepe’s Market Movements Pepe…

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Filed under: News - @ December 12, 2024 7:26 pm