Pepe Coin

Pepe

Pepe Coin Price Analysis: The Frog-themed <a href="https://coingape.com/trending/3-meme-coins-that-can-make-you-millionaire/" rel="noopener noreferrer nofollow">meme cryptocurrency</a> PEPE has seen a bullish streak since last Friday, the day when the Bitcoin network completed its fourth halving. The event has sparked fresh relief across the broader market, uplifting the PEPE price 66% within six days to currently trade at $0.000007. This rally coinciding with a bullish chart pattern and whale accumulation hints at a potential prolonged recovery trend in the near future.&nbsp;
Also Read: <a href="https://coingape.com/markets/pepe-coin-price-eyes-0-00001-high-as-chart-pattern-end-of/" rel="noopener noreferrer nofollow">Pepe Coin Price Eyes $0.00001 High As Chart Pattern Hints End-of-Correction Trend</a>
<h2 id="strong-pepe-price-escapes-correction-trend-with-channel-breakout-strong">Pepe Price Escapes Correction Trend With Channel Breakout</h2>
<img decoding="async" src="https://s3.tradingview.com/snapshots/p/PUmqFdXJ.png" alt="BINANCE:PEPEUSDT Chart Image by sahilmahadik07">
The last correction trend in the <a href="https://coingape.com/blog/current-market-performance-of-pepe-coin-price/" rel="noopener noreferrer nofollow">Pepe coin</a> was easily traced through a falling channel pattern which tumbled the asset price from $0.0000108 to $0.00000393. However, with the recent Bitcoin halving, the PEPE price managed to find a bottom support at $0.00000463 resulting in an immediate reversal in the daily chart.
Moreover, the Spot On Chain has highlighted a notable on-chain event where a whale, linked to “rekdtophin.eth”, accumulated 211.6B <a href="https://coingape.com/pepe-coin-price-rallies-ahead-coinbase-futures-listing/" rel="noopener noreferrer nofollow">PEPE</a> tokens, valued at $1.72M. The whale’s purchases were made on <a href="https://coingape.com/binance-adds-support-omni-pepe-others-prices-surge/" rel="noopener noreferrer nofollow">Binance</a>, Gate.io, and Uniswap, with an estimated initial expenditure of $1.54M. Presently, the whale’s PEPE holdings have resulted in an 11% unrealized profit of $173K.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Whale 0x803 (linked to “rektdolphin.eth”) has been steadily accumulating 211.6B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> (now $1.72M) in the past 24 hours, as the price surged back by 17%!
 Notably, the whale: • accumulated PEPE from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a>, <a href="https://twitter.com/hashtag/Gateio?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Gateio</a>, and <a href="https://twitter.com/hashtag/Uniswap?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Uniswap</a> at ~$0.000007291 (est. cost: $1.54M), now making… <a href="https://t.co/1mcZAIi8F2" rel="noopener noreferrer nofollow">pic.twitter.com/1mcZAIi8F2</a>
 — Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1782951147021779335?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 24, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
This recent rally backed by whale buying gave a decisive breakout from the resistance trendline of the channel pattern. A successful breakout signals a change in market dynamics favoring buyers for a high rally.
The post-breakout recovery could asset <a href="https://coingape.com/price/pepe-coin/" rel="noopener noreferrer nofollow">PEPE price</a> to hit overhead resistances of $0.0000092, followed by $0.0000108.&nbsp;
<h2 id="span-style-font-weight-400-technical-indicator-span">Technical Indicator</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: The MACD and the signal line in bullish crossover state highs the recovery sentiment returning to the PEPE coin.</li>
 <li style="font-weight: 400;" aria-level="1">BB Indicator: The coin price challenging the upper boundary of Bollinger Band is a sign of buyers’ dominance to lead the direction trend.</li>
</ul>
The post <a href="https://coingape.com/markets/pepe-coin-price-analysis-whales-1-72m-buy-breakout-0-00001/" rel="noopener noreferrer nofollow">Pepe Coin Price Analysis: Whale’s $1.72M Buy Spurring Breakout Potential to $0.00001</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Pepe Coin Price Analysis: Whale’s $1.72M Buy Spurring Breakout Potential to $0.00001

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