PEPE Price Potential for a Rise π
PEPE price has recently experienced a decline, but this could actually be setting up the meme coin for a potential rise. π With whale behavior mirroring similar past instances, the potential for an increase is gaining strength. π
Pepe Whales Opt to offload
- PEPE price is significantly influenced by whale addresses holding the most supply of the asset.
- Usually, whale selling is seen as negative, indicating a lack of confidence.
However, in the case of PEPE, the narrative is different. The top non-exchange addresses have reduced their supply by 2.5 trillion PEPE over the last five days, amounting to nearly $20 million, signaling a positive outlook. βοΈ
- Historically, PEPE price tends to surge following whale selling, with a correlation between the scale of selling and the subsequent rally.
- Current indications suggest that a potential rally might be on the horizon.
This initial signal hints at a possible upcoming rally. π Additionally, PEPE holders stand at a critical profit junction, with over 79 trillion PEPE purchased at levels between $0.0000070 and $0.0000099, eagerly awaiting profits. This potential profit incentive could keep the holders bullish and prevent them from selling, further boosting the PEPE price. π
PEPE Price Forecast: Is Another 27% Surge on the Cards?
- The current PEPE price is trading above the crucial $0.0000077 support level.
- The meme coin is expected to continue its rally, aiming to complete the projected 60% surge from two weeks ago.
Despite not yet hitting the $0.0000100 target, PEPE could potentially achieve this 27% increase with the current positive indicators in play. π― The successful completion of this rally could solidify the $0.0000100 level as a strong support for PEPE. π
- If the support at $0.0000077 is breached, a potential drop to $0.0000063 is on the cards.
- Breaking this support level would negate the bullish outlook, leading to further losses for investors.
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