Whales Eye $500 Million Support: Is a Pepe Coin Surge Imminent?
The price of Pepe Coin has moved by 0% in the past 24 hours, sticking to $0.00001225 as the crypto market as a whole gains by 1.5% today.
Despite its inertia, PEPE has actually risen by 14% in a week, although it’s down by 22% in the last 30 days.
But with the popular meme token holding onto a strong 700% increase in a year, its longer term momentum should help it recover strongly from recent downturns.
Whales Eye $500 Million Support: Is a Pepe Coin Surge Imminent?
PEPE’s chart is in an intermediate position at the moment, capable of either further gains or losses.
After touching 75 a couple of days ago, the token’s relative strength index (purple) has declined to under 50 this morning, indicating a loss of momentum.
However, it’s possible that this is mostly a blip, given that PEPE’s 30-day average (orange) recently climbed over its 200-day (blue), providing a sign that it had entered a growth phase.
More than $500 million of trading volume flooded in at the support level, indicating huge whale interest at these levels.
That said, recent transfer data has shown that some whales may be preparing to sell their PEPE holdings, with the past few days seeing one larger trader send 1.1 trillion PEPE (c. $14 million) to Binance.
PEPE whale capitulated and deposited 700B $PEPE($7.8M) into #Binance 5 hours ago.
He currently has 800B $PEPE($9.23M) left, with a total loss of ~$3.5M.
Address:
0x83768992b44f9aFad68889CA59F36507fe00d8F7 pic.twitter.com/X94OunDf05— Lookonchain (@lookonchain) June 25, 2024
Others have done something similar, although the coin may be through the worst of it already, seeing as how it fell from about $0.00001315 to $0.00001245 early on Wednesday morning.
It has struggled to recover significantly since this drop, although it hasn’t fallen any further, suggesting that it may mount a comeback in the next few days.
Because Pepe Coin has been such a fixture among whales and other traders in recent months, there’s no doubt that it could recover strongly in the near future.
Unlike many other major tokens, it reached an all-time high quite recently, topping $0.00001717 on May 27.
$PEPE ATH next week is programmed. pic.twitter.com/Lk5louvlzP
— Plazma (@Plazma0x) June 26, 2024
Some traders and analysts are already predicting that, because of its recent declines, it will rally next week.
This may be probable, if only because the market is expecting the first Ethereum ETFs to launch from next week.
This is likely to boost not only Ethereum, but also altcoins across the board, with popular meme tokens such as Pepe Coin especially likely to profit.
It could reach $0.0000140 in the next few weeks, before breaking its ATH again by the end of summer.
New Pepe Meme Tokens with Utility
PEPE is likely to remain a popular alt for some time to come, but it may not post the biggest gains anytime soon.
Greater momentum may come from newer meme coins, with numerous presale tokens looking very exciting right now.
One of the most interesting of these is new layer-two project Pepe Unchained (PEPU), which has raised $1 million in its recently launched token offering.
$1,000,000 raised!
The ultimate chain is broken. From here on, we’re taking it to the next level. Get ready for the ultimate Layer 2 this summer.
pic.twitter.com/tS2JSi8rHq
— Pepe Unchained (@pepe_unchained) June 27, 2024
An L2 for Ethereum, Pepe Unchained will deliver instant transactions and extremely low fees, providing greater scalability than many existing layer-two networks.
Its efficiencies will also allow it to double the rewards it provides to stakers, who will help secure its network.
30% of its max supply – of 8 billion PEPU – has been reserved for staking, with another 20% allocated to the presale, 20% to marketing, 10% to liquidity, 10% for its team, and 10% for chain inventory.
Pepe Unchained is also gradually building out its community, with the token’s X account having 3,500 followers and its Telegram channel accumulating 2,500 subscribers so far.
These early numbers point to how big Pepe Unchained could become in the coming months, with investors able to join its sale by going to the coin’s official website.
They can buy PEPU using either ETH, BNB, USDT or fiat currency, with the token on track to have a strong opening once it lists in the next couple of months.
The post Whales Eye $500 Million Support: Is a Pepe Coin Surge Imminent? appeared first on Cryptonews.
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Whales Eye $500 Million Support: Is a Pepe Coin Surge Imminent?
The price of Pepe Coin has moved by 0% in the past 24 hours, sticking to $0.00001225 as the crypto market as a whole gains by 1.5% today.
Despite its inertia, PEPE has actually risen by 14% in a week, although it’s down by 22% in the last 30 days.
But with the popular meme token holding onto a strong 700% increase in a year, its longer term momentum should help it recover strongly from recent downturns.
Whales Eye $500 Million Support: Is a Pepe Coin Surge Imminent?
PEPE’s chart is in an intermediate position at the moment, capable of either further gains or losses.
After touching 75 a couple of days ago, the token’s relative strength index (purple) has declined to under 50 this morning, indicating a loss of momentum.
However, it’s possible that this is mostly a blip, given that PEPE’s 30-day average (orange) recently climbed over its 200-day (blue), providing a sign that it had entered a growth phase.
More than $500 million of trading volume flooded in at the support level, indicating huge whale interest at these levels.
That said, recent transfer data has shown that some whales may be preparing to sell their PEPE holdings, with the past few days seeing one larger trader send 1.1 trillion PEPE (c. $14 million) to Binance.
PEPE whale capitulated and deposited 700B $PEPE($7.8M) into #Binance 5 hours ago.
He currently has 800B $PEPE($9.23M) left, with a total loss of ~$3.5M.
Address:
0x83768992b44f9aFad68889CA59F36507fe00d8F7 pic.twitter.com/X94OunDf05— Lookonchain (@lookonchain) June 25, 2024
Others have done something similar, although the coin may be through the worst of it already, seeing as how it fell from about $0.00001315 to $0.00001245 early on Wednesday morning.
It has struggled to recover significantly since this drop, although it hasn’t fallen any further, suggesting that it may mount a comeback in the next few days.
Because Pepe Coin has been such a fixture among whales and other traders in recent months, there’s no doubt that it could recover strongly in the near future.
Unlike many other major tokens, it reached an all-time high quite recently, topping $0.00001717 on May 27.
$PEPE ATH next week is programmed. pic.twitter.com/Lk5louvlzP
— Plazma (@Plazma0x) June 26, 2024
Some traders and analysts are already predicting that, because of its recent declines, it will rally next week.
This may be probable, if only because the market is expecting the first Ethereum ETFs to launch from next week.
This is likely to boost not only Ethereum, but also altcoins across the board, with popular meme tokens such as Pepe Coin especially likely to profit.
It could reach $0.0000140 in the next few weeks, before breaking its ATH again by the end of summer.
New Pepe Meme Tokens with Utility
PEPE is likely to remain a popular alt for some time to come, but it may not post the biggest gains anytime soon.
Greater momentum may come from newer meme coins, with numerous presale tokens looking very exciting right now.
One of the most interesting of these is new layer-two project Pepe Unchained (PEPU), which has raised $1 million in its recently launched token offering.
The ultimate chain is broken. From here on, we’re taking it to the next level. Get ready for the ultimate Layer 2 this summer.
— Pepe Unchained (@pepe_unchained) June 27, 2024
An L2 for Ethereum, Pepe Unchained will deliver instant transactions and extremely low fees, providing greater scalability than many existing layer-two networks.
Its efficiencies will also allow it to double the rewards it provides to stakers, who will help secure its network.
30% of its max supply – of 8 billion PEPU – has been reserved for staking, with another 20% allocated to the presale, 20% to marketing, 10% to liquidity, 10% for its team, and 10% for chain inventory.
Pepe Unchained is also gradually building out its community, with the token’s X account having 3,500 followers and its Telegram channel accumulating 2,500 subscribers so far.
These early numbers point to how big Pepe Unchained could become in the coming months, with investors able to join its sale by going to the coin’s official website.
They can buy PEPU using either ETH, BNB, USDT or fiat currency, with the token on track to have a strong opening once it lists in the next couple of months.
The post Whales Eye $500 Million Support: Is a Pepe Coin Surge Imminent? appeared first on Cryptonews.
Read More