PEPE

Lens

Major

<p style="text-align: justify"><a href="https://en.coin-turk.com/pepe-holds-critical-support-at-0-00000255-faces-weak-momentum-and-10yuzde-downside-risk/" rel="noopener noreferrer nofollow">PEPE</a>, an Ethereum-based meme coin, climbed as much as 16% in recent trading as market demand surged. The rally attracted renewed interest from traders, but a recent $1.64 million transfer to Coinbase by a high-value holder sparked speculation about possible profit-taking among large investors.</p>
<h2 id="major-whale-transfers-add-to-price-volatility">Major whale transfers add to price volatility</h2>
<p style="text-align: justify">The token recently traded close to $0.0000049, coming within reach of $0.000005 earlier in the session. This move follows a period marked by elevated price swings and a return of risk appetite to the broader cryptocurrency market.</p>
<p style="text-align: justify">Blockchain analytics platform Onchain Lens identified a whale transfer of 366.97 billion PEPE to Coinbase. At the time of the deposit, the tokens were valued near $1.64 million. Market participants noted that sending assets to a major exchange may indicate readiness to sell, though an on-chain transfer alone does not always signal an imminent sale.</p>
<blockquote>
 <p><strong>Large PEPE holders moved more than 2.27 trillion tokens, worth $10.19 million, with two dormant wallets transferring their holdings on the same day as the Coinbase deposit. These movements signal shifting strategies within the network’s top investors.</strong></p>
</blockquote>
<p style="text-align: justify">This increased on-chain activity presents a challenge for short-term buyers attempting to capitalize on PEPE’s surge. Significant transfers from whales often precede portfolio adjustments, but their actual impact depends on subsequent actions by the receiving accounts.</p>
<p style="text-align: justify">Earlier in the month, Coinpaper reported falling PEPE balances on centralized exchanges, suggesting a possible reduction in tokens available for swift liquidation. On October 16, on-chain data provider Santiment tracked 4.77 trillion PEPE leaving exchanges, although some of these tokens later returned.</p>
<p style="text-align: justify">These dynamics offer context for the latest whale activity but do not serve as definitive proof of accumulation during the present rally.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Onchain Lens is a blockchain analytics group that monitors and reports large cryptocurrency transactions and wallet movements on public networks, providing insights into investor behavior.</p>
<h2 id="speculation-builds-as-derivatives-trading-intensifies">Speculation builds as derivatives trading intensifies</h2>
<p style="text-align: justify">Derivatives trading activity for PEPE also expanded, further amplifying volatility. Market research from CoinGlass indicated that futures trading volume for PEPE surged by 72.7% to reach $587.9 million. At the same time, open interest increased by 7.1% to stand at $316.1 million.</p>
<p style="text-align: justify">Despite this, open interest does not clearly show whether most traders are optimistic or expecting price declines. Coinpaper research previously highlighted $269 million in PEPE futures positions, showcasing how quickly leveraged trading can accelerate during brief rallies.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Date</th>
   <th>PEPE Futures Volume</th>
   <th>Open Interest</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>October 28</td>
   <td>$587.9 million</td>
   <td>$316.1 million</td>
  </tr>
  <tr>
   <td>Prior reporting</td>
   <td>$269 million (positions)</td>
   <td>Not provided</td>
  </tr>
 </tbody>
</table>
<p style="text-align: justify">Earlier, PEPE’s rally in September led to a weekly gain of around 42%, but the token quickly faced resistance and selling pressure, underlining how rapidly market sentiment can change for high-volatility assets.</p>
<h2 id="traders-monitor-key-resistance-levels">Traders monitor key resistance levels</h2>
<p style="text-align: justify">For now, PEPE faces significant resistance around the $0.000005 level. During the most recent trading session, the price briefly tested this barrier but failed to maintain a clear breakout. The October 23 high near $0.00000510 remains another closely watched marker. Further gains could bring the $0.00000515 to $0.00000550 zone into focus if momentum persists.</p>
<p style="text-align: justify">Coinpaper’s earlier Wolfe Wave technical analysis also identified $0.000005 as a critical price objective, pending further validation from current chart patterns.</p>
<p style="text-align: justify">On the downside, the first key support is at $0.00000460, followed by the low near $0.00000426 recorded on October 27. The mixed history of large-holder accumulation and sharp reversals highlights the risks of betting on short-term direction.</p>
<blockquote>
 <p><strong>Whale purchases during prior rallies did not prevent sharp drawdowns, showing that even significant wallet activity may not reliably signal the next trend for PEPE.</strong></p>
</blockquote>
<p>The post <a href="https://en.coin-turk.com/whales-move-1-64-million-pepe-as-price-targets-0-000005-resistance/" rel="noopener noreferrer nofollow">Whales move $1.64 million PEPE as price targets $0.000005 resistance</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Whales move $1.64 million PEPE as price targets $0.000005 resistance

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