A Crypto Whale Purchases $6.7 Million of PEPE in 38 Hours
A crypto whale recently made a significant purchase of PEPE tokens, accumulating 4.6 trillion tokens from Binance at an average price of $0.000001409. The total trade amounted to $6.7 million over the span of 38 hours. This whale has a trading strategy with a win rate of 33.3%.
Key Points:
– The recent decline in Bitcoin and other cryptocurrencies has provided an opportunity for crypto whales to execute large trades.
– PEPE experienced a rally in June but has since seen a decrease in new holders and excitement.
– Monitoring on-chain metrics, such as network growth, is important for investors to assess potential demand in meme coins like PEPE.
– The current price of PEPE is $0.00000132 with a 15% drop on the monthly timeframe.
– Key resistance levels for PEPE are at 0.0000018599, while the current support is at 0.0000012552.
Is PEPE’s Rally Over?
The recent decline in new holders and excitement surrounding PEPE suggests the possibility of further price decline. Meme coins like PEPE heavily rely on community-driven efforts and have limited utility. On-chain metrics, like network growth, provide important insights for investors to assess potential demand.
PEPE Price Analysis
Currently, PEPE is priced at $0.00000132 with a 15% drop on the monthly timeframe. The circulating supply of PEPE is 420 trillion tokens, with a market cap of $553.4 million. The Relative Strength Index (RSI) on the weekly timeframe indicates that the asset is yet to reach the overbought territory. Key resistance levels for PEPE are at 0.0000018599, and the support level is at 0.0000012552.
Hot Take
The recent purchase of PEPE tokens by a crypto whale highlights the continued interest in large-scale trades within the crypto market. However, the decline in excitement and new holders for PEPE suggests a potential downturn for the meme coin. Monitoring on-chain metrics is crucial for investors to assess the future demand and potential price movements.
By
By
By
By