Whale Activity Shows Contrasting 7-Day and 30-Day Trends
The post Whale Activity Shows Contrasting 7-Day and 30-Day Trends appeared on BitcoinEthereumNews.com.
TLDR PEPE coin recently formed a bullish inverse head and shoulders pattern, suggesting a potential 23% price surge to $0.000012 While 30-day whale accumulation increased by 103.64%, the 7-day trend showed a -45.77% decline, indicating mixed large investor sentiment Network activity metrics show declining participation, with new addresses down 31.72% and active addresses dropping 50.72% The meme coin recently gave up all November 2024 gains with over $7 million in spot outflows Current market cap stands at over $3.7 million, placing PEPE among the larger meme coins despite recent challenges PEPE coin has formed a notable inverse head and shoulders pattern on its price charts, suggesting a potential 23% price increase to $0.000012. The technical formation, widely recognized as a bullish reversal structure, comes at a time when the token faces mixed signals from various market metrics. The pattern’s structure shows increasing buying momentum through higher lows in the left and right shoulders, while the head marks the pattern’s lowest point. A breakthrough above the $0.00001 neckline has confirmed the bullish setup, establishing a clear target for potential price movement. Recent price action reveals PEPE testing crucial support and resistance levels that could determine its next directional move. The immediate resistance level stands at $0.000012, where previous selling pressure has emerged in past trading sessions. The support zone currently rests at $0.000008, an area that has previously demonstrated strong buying interest. An intermediate support level at $0.0000095 could provide a buffer zone if the price experiences a pullback before testing lower levels. Data from market intelligence platform IntoTheBlock reveals fluctuating activity among large PEPE holders. The 7-day whale accumulation trend has decreased by 45.77%, indicating reduced buying pressure from major investors in the short term. However, the 30-day accumulation metric shows a 103.64% increase, suggesting stronger buying activity during the…
Filed under: News - @ February 12, 2025 11:25 am