Pepe (PEPE) Price Analysis: Will the Meme Coin Hop to New Heights?
Pepe (PEPE) has recently hit an all-time high (ATH) but has since experienced a correction. However, the actions of whale investors suggest that the meme coin may soon reach new ATHs.
What Did PEPE Whales Do?
– Whale investors hold a significant portion of the circulating supply, influencing price actions.
– Whales have recently been accumulating more PEPE tokens, with over $20 million worth purchased in the last ten days alone.
– This influx of capital from whales indicates a bullish sentiment, as they expect the price to rise.
– Retail investors are also showing confidence in PEPE, with many holding onto their tokens instead of selling them.
PEPE Price Prediction: A Potential 60% Increase
– Currently trading within a descending wedge pattern at $0.00000511, indicating a potential bullish breakout.
– If the price breaks out above $0.00000633, a 60% increase is expected, potentially pushing PEPE to new ATHs.
– However, a breakdown below $0.00000474 could invalidate this bullish scenario, leading to a price drop below $0.00000400.
Hot Take: Final Thoughts on Pepe (PEPE)
Keep an eye on PEPE as whale investors continue to add to their positions, signaling a potential price increase. The meme coin’s price movements within the descending wedge pattern suggest a bullish breakout may be on the horizon. However, watch out for a breakdown below key support levels, as this could lead to a bearish trend for PEPE.
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