Pepe Price Prediction as Unknown Whale Starts Accumulating $1.5 Million Worth of PEPE – Big News Coming?
The Pepe price has dropped by 5% in the past 24 hours, declining to $0.000007554 as the wider crypto market suffers a 4% loss today.
Despite this fall, PEPE remains up by an impressive 55% in the past week, and while it’s down by 10% in a month, it’s also up by 3,000% in the past year.
Today’s correction has provided traders with an opportunity to buy the dip, with one whale actually snapping up $1.5 million in PEPE yesterday.
This suggests an expectation of incoming rallies, and with the coin bottoming out in the past 24 hours, it could be about to rise again.
After showing a dip in the past few days, PEPE’s indicators are beginning to regain momentum, suggesting that we may see a rally very soon.
Its relative strength index (purple) has risen from just under 40 yesterday to around 55 today, a sign of buying pressure.
At the same time, its 30-day average (orange) has halted yesterday’s decline and has just begun rising again, putting more distance between itself and the 200-day average (blue).
This signals that the coin remains in a growth phase, one also indicated by the fact that PEPE’s trading has risen to $1.5 billion in the past day.
This has something to do with the whale purchase mentioned above, with one larger trader accumulating around 211 billion PEPE over several purchases yesterday.
Whale 0x803 (linked to “rektdolphin.eth”) has been steadily accumulating 211.6B $PEPE (now $1.72M) in the past 24 hours, as the price surged back by 17%!
Notably, the whale:
• accumulated PEPE from #Binance, #Gateio, and #Uniswap at ~$0.000007291 (est. cost: $1.54M), now making… pic.twitter.com/1mcZAIi8F2
— Spot On Chain (@spotonchain) April 24, 2024
This suggests that smart money expects PEPE to return to growth over the coming weeks,
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