PEPE has made headlines again, reaching a new all-time high of $0.000027 just a few hours ago. This milestone comes amid heightened market volatility, with the token showing massive gains as it outpaces many other assets in the crypto space. PEPE’s explosive price action attracts significant attention as retail and institutional investors flock to capitalize on the momentum. Related Reading: Dogecoin Sees Quiet Breakout As Data Signals Rally Continuation Recent metrics from IntoTheBlock reveal a striking trend: whales increased their PEPE holdings by a staggering $1.4 billion yesterday. This sharp accumulation by large holders suggests that smart money positions itself for an extended rally, signaling confidence in the token’s potential for further gains. As PEPE continues to soar, the market is closely monitoring its ability to maintain momentum in the face of growing interest and volatility. The influx of whale activity often signals a pivotal shift in market dynamics, which could begin a new phase for the meme coin. Smart Money Signals Upside Pepe (PEPE) has been on a remarkable ascent, consistently setting new all-time highs and showing no signs of slowing down. The meme coin has captured the market’s attention with its recent surge, positioning itself as one of the top-performing assets in the crypto space. After reaching $0.000027, PEPE appears ready to extend its rally, with on-chain activity supporting the bullish narrative. Data from IntoTheBlock, shared by crypto analyst Ali Martinez, highlights a key development driving PEPE’s momentum: whales increased their holdings by an astounding $1.4 billion yesterday. This significant accumulation underscores the growing interest of large holders, often considered “smart money” in the market. These entities can drive prices higher through substantial buying pressure, and their activity is often a precursor to explosive market moves. The broader crypto market is also trending upward, providing a supportive environment for PEPE’s continued growth. As whales position themselves for further gains, the meme coin’s trajectory over the next few weeks is expected to be fascinating to watch. Related Reading: XRP Price Forecast – Analyst Sets $4 Target After Potential Retrace If current trends persist, PEPE could experience more substantial price increases, fueled by retail enthusiasm and institutional accumulation. However, market participants should remain cautious of potential volatility as the coin navigates its path to sustained highs. PEPE Enters Price Discovery Pepe (PEPE) has reached a new all-time high at $0.0000275, solidifying its place as one of the most resilient performers in the current market. The price is now retesting previous highs as support, a crucial step for bulls to maintain momentum. This level is pivotal, as it could either confirm a continuation of the uptrend or signal a potential reversal. Despite this achievement, PEPE faces uncertainty due to broader market conditions. Bitcoin and the entire crypto market are experiencing heightened volatility, adding an unpredictable element to PEPE’s price action. For PEPE to sustain its rally, it must hold firmly above the $0.000023 support level over the coming days. Successfully doing so would likely pave the way for a breakout into price discovery, with the potential for even higher highs. Related Reading: Dogecoin About To Enter Phase Of Explosive Growth – Charts Reveal Massive Breakout On the other hand, failure to maintain this critical support could result in a retrace, leading to a broader correction. This scenario would test investor sentiment and could slow the meme coin’s remarkable ascent. Featured image from Dall-E, chart from TradingView
On-chain data shows a PEPE whale has withdrawn a large amount of the memecoin from Binance today, a sign that could be bullish for its price. PEPE Whale Has Made A Large Outflow From Binance In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, a massive Pepe transaction has been spotted on the blockchain during the last 24 hours. Related Reading: Bitcoin Q3 Rally Possible As Miner Selloff Finishes, Quant Says The transfer involved the movement of 1,286,733,285,955 tokens on the network, worth more than $14.7 million when the transaction went through. Given this large scale, it’s likely that a whale entity was responsible for the move. Whales are humongous investors who carry large amounts in their wallets. As they can make huge single-transaction movements like this latest one, they are considered influential beings on the market. Therefore, their moves can be worth keeping an eye on, as they may have implications for the price. Generally, though, it’s hard to say how exactly a move might reflect on the market, but sometimes, the addresses involved can provide some hints. Below are the address details for the latest Pepe whale transaction. As is visible, the sending address for this PEPE transaction was one attached to the cryptocurrency exchange Binance. Conversely, the receiver wasn’t affiliated with any centralized platform, suggesting that it was likely an investor’s self-custodial wallet. Transfers that move from exchanges to personal addresses are called “exchange outflows.” Generally, investors make outflows from these platforms when they plan to hold in the long term, so these transfers can potentially carry bullish benefits for the cryptocurrency. Related Reading: Shiba Inu ‘Underbought,’ While Bitcoin ‘Overbought’ Recently: Santiment The whale may have made this latest transfer out of Binance for a similar purpose. It could also be that these coins were just freshly purchased by this large investor, thus making a move even more positive for the memecoin. However, there also exists a bearish scenario where the whale has taken out their PEPE stack to sell through an over-the-counter (OTC) desk instead. As it’s impossible to say with any certainty which of these scenarios this transaction follows, it only remains to be seen what effects this transfer ends up having on the coin’s price, if any. PEPE Price Pepe had recently recovered towards the $0.0000121 level, but the asset has since seen a plunge of almost 5% as its price is now back at around $0.0000115. The chart below shows what the memecoin’s performance has looked like over the last few days. Featured image from Dall-E, whale-alert.io, chart from TradingView.com