The Crypto market created a stir when an old and long calm Whale transferred around 1.79 trillion pepe token to a new wallet. The total cost of these tokans is around $ 22.23 million (about ₹ 185 crore). After this activity, the pepe value saw a decline of about 10%.
not long ago Whales dumped 41 trillion pepe coinSales of large amounts of tokens by Whales are often indicated by a possible decline in the market. When these big investors sell their holdings, it usually happens for two reasons, either they want to secure the profits already made or they feel that the market may soon have a slowdown, which prefer to get out of time to avoid damage.
Whale’s return: Big move after 2 years of silence
According to Blockchain Analyst Platform Lokonchain, this ‘Whale’ was absolutely inactive for the last two years. Now it created a new wallet on Etreum by making three big transactions from Binance.
-
The biggest transfer: 1.1 trillion pepe token
-
Second transfer: 633 billion pepes
-
Third and shortest: 9.8 million pepes
Along with this, 3 ets (about ₹ 6 lakh) were also sent to this wallet, which is probably kept for gas fees or future swaps.
History of old wallet
The first wallet of this whale conducted transactions of People, Eth, UNI and USDT TOKEN in large quantities on platforms like Uniswap, Metamask and 0x Alternate. But after that this wallet was completely calm. Now this sudden return can be a big sign for the market.
PEPE price declines but hope remains
Soon after this whale movement Pepe value I fell about 10%. However, many experts believe that this decline may be temporary as the heavy purchases of Whale and the growing interest in the market indicate that the pepe may soon return.
Technical Analysis: What will happen next
Pepe Coin is trading with stability between $ $ 0.000028 to $ 0.0000052 from the past several months and its price is around $ 0.00001285 till the news is written. Recently it has been rejected twice (May 12 and 13) from the resistance level of $ 0.000015047.
RSI (Relative Energy Index) has now gone below 50, indicating that the market may currently be a bearish (fall). Apart from this, the speed that came earlier, was also made an imbalance between buyers and vendors.
Potential price movement
If it improves market imbalance, the price of pepe may fall to the first $ 0.000006646. But after that it is expected to boom rapidly. If it breaks the resistance of $ 0.000015047, the price can increase by about 85% to $ 0.000038798. This pattern matches a chronic rally rally in May 2024.
What will happen next in Pepe Coin?
A few days to come can be extremely important for pepe token. When a whale is suddenly active in this way, he is either preparing for big shopping or plans to book the profit. So for the next few days, it will be important to see that it holds, transfer or sells Whale Pepe.
If the price goes up with support from this level, then it can be a strong bullish reversal. PEPE is a mimkin and its movement depends on social media trends many times. If Elon Musk or any big influential person said something about Pepe or a new exchange listing or burning event, it can suddenly push the price up rapidly.
You have to be alert but ready
Pepe coin stands at a significant turn.
-
If the price falls and takes support then it can become a good purchase opportunity.
-
At the same time, if this support breaks, it is possible to decline further.
Do your research before investing and keep an eye on trends. The upcoming 7-10 days can decide the direction of pepe. Will this meemkoin will be viral again or will it fade slowly? Will tell the time.
Conclusion
Whale’s return has created a stir in the market, but the incident also indicates the interest of new investors in PEPE and potentially boom. If you want to invest in pepes, the current decline may also be an opportunity but it is necessary to take into account the right research and risk before any decision.
Also read:Blum co-founder vladimir smerkis arrest, know what next
