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Despite the market being bearish and sideways for almost 2 months, at the current time, it looks like investors and crypto whales are massively accumulating, showing their strong interest and confidence. On May 11, 2024, an on-chain analytic firm, Lookonchain, made a post on X (previously Twitter) stating that crypto whales have accumulated a massive 649 billion Pepe (PEPE) tokens. Whales long on PEPE, buy 649 billion tokens 
This massiveaccumulation of PEPE has been directed by four crypto whales, all of whom withdrew PEPE from the world’s largest cryptocurrency exchange, Binance. 
The first whale, with the wallet address 0xa145, withdrew 350 billion PEPE worth around $3.44 million from Binance 10 hours ago. Looking at the historical data, it is found that this whale is good at swing trading PEPE, having gained a profit of approximately $2.66 million. The second whale, identified by the wallet address 0xa4Fd, spent $1.09 million USDC to buy a massive 123.66 billion PEPE at $0.00000881, and this transaction was executed 18 hours ago.
The third whale, with wallet address 0x895f, withdrew 101 billion PEPE ($885,000) from Binance 13 hours ago. Lastly, the fourth whale, with wallet address 0x24E3, invested $661K USDC to purchase 74.5 billion PEPE at $0.000008873, a transaction completed just 6 hours ago.
This massive accumulation of PEPE worth $6 million doesn’t create any impact on the price of PEPE. But it looks like these investors or crypto whales might have some insights about PEPE, which is the major reason behind this accumulation. PEPE technical analysis and key levels&nbsp; 
Currently, PEPE is trading near $0.0000087, and in the last 24 hours, the price of <a href="https://news.todayq.com/1-2-trillion-pepe-deposited-on-binance-whale-set-to-sell-off/" rel="noopener noreferrer nofollow">PEPE remained stable</a> and experienced a 0.72% positive move. If we look at the performance of PEPE over a longer period, in the last 7 days, the PEPE token experienced a decent 1% upside momentum. Whereas, in the last 30 days, despite lots of uncertainty across the globe, PEPE managed to surge more than 20%.
According to expert technical analysis, PEPE is looking bullish and currently trading near a strong resistance level of $0.0000089. However, the major reason for this bullish outlook is the breakout of the bullish flag and pole pattern on a daily timeframe. In the coming days, if PEPE on a daily candle gives a closing above $0.0000092, then there is a high chance that it will massively soar.

Whales go long on PEPE buy 649 billion tokens, Will price jump?

Todayq News

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