Some cryptocurrency whales are capitalizing on market fluctuations, viewing them as buying opportunities. Despite a plethora of good news, the charts for cryptocurrencies don’t look promising, with investor losses in altcoins on the rise. What’s the current situation for PEPE Coin, which has drawn significant interest from these large investors?
PEPE Coin Whales’ Recent Moves
According to Etherscan, a whale who previously realized substantial gains has bought PEPE Coin again in the last 24 hours. This investor, who saw an 886% return, made a strategic purchase in October 2023, subsequently earning 1.77 million dollars. Will this pattern repeat?
While history doesn’t always repeat, the reasoning behind this whale’s action is noteworthy. Whales’ aggressive investments typically lead to upward trends in assets like PEPE Coin. As per Lookonchain, a wallet linked to the investment management firm Ceffu recently executed an $11.6 million purchase.
Is a Major Event on the Horizon?
Could insiders be preemptively pricing in some big news? Historically, such unusual demands have often been insider trades anticipating significant developments. The daily active addresses (DAA) chart also hints at a potential increase in PEPE Coin’s value.
Actionable Insights for PEPE Coin Investors
- Keep an eye on whales’ transaction patterns for possible market cues.
- Monitor the daily active addresses (DAA) chart as an indicator of price movement.
- Watch for any significant news that might justify the whales’ large purchases.
PEPE Coin Price Predictions
Currently, PEPE Coin is priced slightly above $0.00000738. The recent drop in BTC’s value forms the basis of today’s pullback in PEPE Coin. After BTC’s failed attempt to reach $65,000, sellers are now targeting $55,000, with multiple dips below $58,000 this week.
For PEPE Coin, bulls must defend the key support level at $0.0000071, and any closure below this level could delay the anticipated rise. To trigger a rally, overcoming the resistance at $0.0000095 is essential. A convincing break past this could propel the coin to $0.000012.
In a bearish scenario, a bottom for PEPE Coin would be around $0.0000067. If a rebound occurs from this level, the previously mentioned support could be retaken.
