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<p><strong>An anonymous whale wallet identified as 0x3ae deposited 3.42 trillion <a href="https://captainaltcoin.com/pepe-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">PEPE</a> tokens (worth around $3.99 million) to cryptocurrency exchange OKX earlier today, according to <a href="https://x.com/spotonchain/status/1718339026602910182?s=20" target="_blank" rel="noopener noreferrer nofollow">noted </a>on-chain analyst Spot on Chain.</strong></p>
<p>The whale had accumulated the PEPE tokens through providing liquidity on Uniswap and from OKX directly. However, the whale is likely still at an overall loss based on the token’s historical price chart.</p>
<p>PEPE, which powers a decentralized <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> creation and sharing network, has seen its price pump around 65% over the past week. This rapid increase could be viewed by the whale as a opportune time to exit some of their position.</p>
<p>In crypto markets, when major holders accumulate large amounts of a token or coin, it often signals a positive long-term outlook on the project. These whales believe in the asset’s fundamentals and roadmap enough to steadily build up multimillion dollar positions.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="627" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-1024x627.png" alt="" class="wp-image-365924" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-1024x627.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-300x184.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-768x470.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-1536x940.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-2048x1254.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-245x150.png 245w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-572x350.png 572w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725-788x482.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-725.png 1784w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>However, taking some profits after a strong rally is also a prudent move for experienced crypto traders. It allows them to lock in gains and maintain a healthy risk profile.</p>
<p>Despite today’s 4% drop, PEPE is still trading firmly above the key support level of $0.000001 that was regained earlier in October after months of decline. As long as PEPE can hold above this support, its technical outlook remains bullish.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/xrp-and-sec-likely-to-go-for-settlement-in-november-as-inqubeta-eyes-4-million-in-presale/" target="_blank" rel="noopener noreferrer nofollow">XRP and SEC likely to go for settlement in November, as InQubeta eyes $4 million in presale</a></li>
 <li><a href="https://captainaltcoin.com/top-btc-expert-explains-why-this-bitcoin-pump-is-just-getting-started/" target="_blank" rel="noopener noreferrer nofollow">Top BTC Expert Explains Why This Bitcoin Pump Is Just Getting Started</a></li>
 <li><a href="https://captainaltcoin.com/why-kaspa-kas-will-mirror-solanas-2021-success/" target="_blank" rel="noopener noreferrer nofollow">Why Kaspa (KAS) Will Mirror Solana’s 2021 Success</a></li>
</ul>
<p>The recent price surge and whale accumulation provides evidence that there is renewed interest and optimism around the PEPE ecosystem and its roadmap. However, the project still faces risks and volatility, characteristic of small cap cryptocurrencies. Traders should exercise caution and only allocate capital they can afford to lose.</p>
<p>Let me know if you would like me to modify or expand this draft article in any way. I aimed to summarize the key points from the Tweet and provide relevant context about what whale accumulation typically signals.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/whale-pepe-accumulation-could-point-to-positive-long-term-outlook-on-chain-data/">Whale PEPE Accumulation Could Point to Positive Long-Term Outlook: On-Chain Data</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Whale PEPE Accumulation Could Point to Positive Long-Term Outlook: On-Chain Data

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