Pepe

PEPE

Billion

<p>The post <a href="https://coinpedia.org/news/pepe-whale-buys-173-billion-tokens-after-20-dip-bull-run-incoming/">PEPE Whale Buys 173 Billion Tokens After 20% Dip, Bull Run Incoming?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After experiencing a price drop of 20% in the last three days, Pepe (PEPE) the popular and third-biggest meme coin is getting significant attention from the crypto community. On August 29, 2024, a profitable PEPE trader made a big bet on PEPE once again as its price declined significantly in recent days.</p> 
<h2 class="wp-block-heading" id="h-pepe-whale-turns-the-sentiment-bullish"><strong>PEPE Whale Turns the Sentiment Bullish&nbsp;</strong></h2> 
<p>According to the on-chain analytic firm Eyeonchain, the PEPE whale wallet address “0x612e” has spent 1.34 million USDC to purchase 173 billion tokens in the last 24 hours. In October 2023, he bought 170 billion tokens and sold them in July 2024. In less than a year, he has made over $1.77 million of profit and generated over 886% of return on investment.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">PEPE Trader Makes a Major Move! <br><br>After making a staggering $1.77M profit (+886%) by holding 170B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> from October 2023 to July 2024, a savvy trader has just spent 1.34M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy 173B <a href="https://twitter.com/hashtag/PEPE?src=hash&amp;ref_src=twsrc%5Etfw">#PEPE</a> in the last 14 hours! <br><br>Address: 0x612e198B406e6932599790F9FFA33c084559061b <a href="https://t.co/bF0U3Z3t52">pic.twitter.com/bF0U3Z3t52</a></p>— EyeOnChain (@EyeOnChain) <a href="https://twitter.com/EyeOnChain/status/1829042394953555980?ref_src=twsrc%5Etfw">August 29, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>However, this time investors and traders are expecting a similar rally following the whales’ recent investment.</p> 
<h2 class="wp-block-heading" id="h-pepe-daily-and-weekly-analysis-nbsp"><strong>PEPE Daily and Weekly Analysis&nbsp;</strong></h2> 
<p>According to the expert technical analysis, PEPE looks bullish as it has recently taken support from the rising trendline and is now heading to break the previous day’s high. However, PEPE’s Relative Strength Index (RSI) signals a potential price reversal as it is in an oversold zone.</p> 
<p>With this bullish outlook, based on the price action and historical price momentum, there is a high possibility that PEPE could soar by 23% to the $0.0000099 level.&nbsp;</p> 
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/08/29213554/PEPEUSDT_2024-08-29_21-35-32.png"><img decoding="async" width="1024" height="449" src="https://image.coinpedia.org/wp-content/uploads/2024/08/29213554/PEPEUSDT_2024-08-29_21-35-32-1024x449.png" alt="" class="wp-image-344521" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/29213554/PEPEUSDT_2024-08-29_21-35-32-1024x449.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/29213554/PEPEUSDT_2024-08-29_21-35-32-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/29213554/PEPEUSDT_2024-08-29_21-35-32-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/29213554/PEPEUSDT_2024-08-29_21-35-32-1536x673.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/29213554/PEPEUSDT_2024-08-29_21-35-32-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/29213554/PEPEUSDT_2024-08-29_21-35-32.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure> 
<p>Additionally, PEPE is moving in a <a href="https://coinpedia.org/news/pepe-price-analysis-can-the-meme-coin-surge-to-new-heights/">symmetrical triangle pattern</a> on a weekly time frame and is now approaching the breakout area. If market sentiment remains bullish and PEPE closes a weekly candle above the $0.0000102 level, we may see a significant upside rally of 65% in the coming days.</p> 
<h3 class="wp-block-heading" id="h-rising-open-interest-and-price-analysis"><strong>Rising Open Interest and Price Analysis</strong></h3> 
<p>At press time, <a href="https://www.coinglass.com/BitcoinOpenInterest" target="_blank" rel="noreferrer noopener nofollow">PEPE’s open interest </a>has increased by over 3.5% in the last four hours, according to the on-chain analytics firm CoinGlass. This indicates growing interest from investors and traders amid the recent price drop.</p> 
<p>Whereas, PEPE is currently trading near the $0.0000081 level and has experienced an upside momentum of over 66.5% in the last 24 hours. Meanwhile, its trading volume has declined by 27%, indicating lower participation from traders.</p>

PEPE Whale Buys 173 Billion Tokens After 20% Dip, Bull Run Incoming?

Table of Contents

CoinPedia News

Other articles published on Aug 29, 2024

Parafi Capital Raises $120 Million from Investors

Toncoin’s Six-Month Support Strengthened by CEO’s Release: Higher Prices Ahead?

Telegram Founder Pavel Durov's Arrest: The Story So Far

Crypto markets show caution with major put skews in Bitcoin and Ether

Memecoin Trader Sees Profits Capitalizing Footballer $MBAPPE Hack

Could Toncoin Or Kaspa Supercharge Your Wallets Before 2025?

Join our free newsletter for daily crypto updates!