bullish

PEPE

<p>The post <a href="https://coinpedia.org/price-analysis/pepe-whale-offloads-396-bln-tokens-sell-signal-or-what/">PEPE Whale Offloads 396 billion Tokens, Sell Signal or What?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Today on August 9, 2024, the on-chain analytic firm Lookonchain made a post on X (previously Twitter) that has gathered widespread attention from the crypto community. In the post, Lookonchain shared that a <a href="https://coinpedia.org/price-analysis/pepe-price-could-surge-50-key-factors-to-watch/" target="_blank" rel="noreferrer noopener">Pepe (PEPE)</a> whale recently deposited a significant 395.92 billion tokens worth $3.4 million on Binance.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-pepe-whale-dumped-396-billion-tokens"><strong>PEPE Whale dumped 396 billion tokens</strong></h2> 
<p>However, whale dumped this significant amount of tokens during the ongoing market recovery and the recent bullish breakout in PEPE. Despite this dump, this whale has made a total profit of over $5.06 million and generated nearly 200% return on its investment.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The whale deposited all the remaining 395.92B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>($3.4M) into <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> 4 hours ago.<br><br>The whale made a total profit of $5.06M(+199%) on <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>.<a href="https://t.co/JAcApqwZV6">https://t.co/JAcApqwZV6</a> <a href="https://t.co/zmGhctMv4Q">pic.twitter.com/zmGhctMv4Q</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1821932799827530021?ref_src=twsrc%5Etfw">August 9, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>With the dump, this whale’s PEPE holding went zero. According to Lookonchain, the whale withdrew nearly 795.92 billion PEPE tokens worth $2.55 million from Binance on March 1, 2024. However, he sold 400 billion PEPE for $4.22 million on August 1, 2024, and 395.92 billion tokens worth $3.4 million today.</p> 
<p>However, the last time the whale dumped tokens, PEPE experienced a price drop of over 16%. This time price didn’t react much, but we may see a slight drop as per historical data.</p> 
<h3 class="wp-block-heading" id="h-pepe-price-analysis"><strong>PEPE price analysis</strong></h3> 
<p>At press time, <a href="https://markets.coinpedia.org/pepe/" target="_blank" rel="noreferrer noopener">PEPE</a> is trading near $0.0000083 and has experienced a price surge of over 2% in the last 24 hours. Meanwhile, its trading volume has also increased by 10% during the same period. This increase in trading volume indicates a higher participation from investors.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-pepe-price-prediction"><strong>PEPE Price Prediction&nbsp;</strong></h2> 
<p>According to expert technical analysis, PEPE is looking bullish as it moves above the 200 Exponential Moving Average (EMA) on a daily time frame. The price of assets above the 200 EMA signals that the assets are in the uptrend.&nbsp;</p> 
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/08/10002032/PEPEUSDT_2024-08-10_00-20-17-1024x448.png"><img decoding="async" width="1024" height="448" src="https://image.coinpedia.org/wp-content/uploads/2024/08/10002032/PEPEUSDT_2024-08-10_00-20-17-1024x448.png" alt="" class="wp-image-336648" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/10002032/PEPEUSDT_2024-08-10_00-20-17-1024x448.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/10002032/PEPEUSDT_2024-08-10_00-20-17-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/10002032/PEPEUSDT_2024-08-10_00-20-17-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/10002032/PEPEUSDT_2024-08-10_00-20-17-1536x672.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/10002032/PEPEUSDT_2024-08-10_00-20-17-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/10002032/PEPEUSDT_2024-08-10_00-20-17.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
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</figure> 
<p>Apart from this, PEPE has recently experienced a breakout of the consolidation zone and it is currently retesting that level. However, the last time when PEPE gave a breakout of the consolidation zone it experienced a price surge of 180%, in 37 days. This time there is a similar expectation traders and investors are expecting from PEPE.&nbsp;</p> 
<p>In the coming days, if PEPE manages to hold itself above the 200 EMA, there is a high chance it could soar 50% to the $0.0000127 level.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-analysis/top-altcoins-to-book-massive-profits-this-august/" target="_blank" rel="noreferrer noopener">Top Altcoins To Book Massive Profits This August!</a></p>

PEPE Whale Offloads 396 billion Tokens, Sell Signal or What?

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