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PEPE

$0.00001 Break Imminent Amid Whale Sell-off? 

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5 days ago

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Pepe Coin Price Analysis: On Wednesday during the Asian trading hours, the crypto market witnessed a surge in selling pressure as Bitcoin price fell nearly 4%. The BTC revisiting the $60000 sparked the possibility of a downtrend continuation in most of the major altcoins including PEPE. The Frog-themed memecoin is down 8% today, extending the correction fall with a channel setup. Should you stay invested?

Also Read: PEPE Price: Whale Sacks 1.2 Tln Coins Amid Monthly Crash, Is Price Gearing Up For Rally?

Pepe Coin Price Analysis: Whale Dumps $112,000 Worth of Tokens Amid Downtrend

BINANCE:PEPEUSDT Chart BINANCE:PEPEUSDT Chart
Pepe Coin Price Analysis| Tradingview

The current correction trend in Pepe coin was initiated at May End as the price reverted from  $0.00001725. Since then, the meme coin has witnessed a steady downtrend of lower highs and lows resonating with two downsloping trendlines.

The bearish turnaround has tumbled the asset 39% down to $0.00001048, while the market cap plunged to $4.42 Billion. An analysis of the daily chart shows the falling trendline reveals the formation of a bull flag pattern. This chart pattern is known to drive temporary counter-trend moves for buyers to recuperate their strengths.

Despite the correction, the PEPE price is still above the 50% Fibonacci retracement tool indicating the long-term trend remains bullish and buyers remain a dominant force in this asset.

However, the PEPE is currently in downward momentum and a recent sell-off from smart money hints at a breakdown below $0.00001. A major whale, dimethyltryptamine.eth, has re-engaged with PEPE after a 10-month hiatus, selling 10 billion PEPE tokens (worth $112,000) for 32.73 ETH. 

Also Read: Binance Announces Delisting Of Key Crypto Pairs, Brace For Market Impact

Early investment by this whale turned $45,000 into $26.7 million, marking a 58.6% gain. Currently holding 1.99 trillion PEPE tokens valued at $21.9 million, the whale’s activity underscores the profitability of early investments. However, the recent sell-off suggests the large holder may not expect a strong upside in PEPE in the near time.

Thus, a breakout from the flag pattern resistance is necessary to end the current correction trend. With sustained buying, the post-breakout rally could surpass $0.0000135 and rechallenge the $0.00001725 peak.

Technical Indicator

  • BB Indicator: The downtick in the lower Bollinger Band accentuates aggressive selling and no sign of reversal yet.
  • ADX: An uptick in the daily Average Directional Index slope at 20% indicates the sellers are gaining momentum which could lead to a prolonged downfall.

Frequently Asked Questions (FAQs)

A bull flag pattern is a technical chart pattern that resembles a small rectangular consolidation of price movement within a prevailing uptrend. It suggests a temporary pause before the uptrend continues.

The 50% Fibonacci retracement tool is a technical analysis tool used to identify potential support and resistance levels by measuring the halfway point of a prior price movement.

The ADX (Average Directional Index) indicator measures the strength of a trend, with higher values indicating a stronger trend.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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24/7 Cryptocurrency News

Here’s What Happened In Crypto This Week

Published

1 week ago

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June 30, 2024

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Another week draws to a close within the crypto landscape, keeping crypto market traders and investors on their toes. Bitcoin’s (BTC) price slipped from the $64K price level to as low as $59K this week, raising investor concerns. This tumbled movement comes against the backdrop of massive dumps to exchanges.

Meanwhile, Pepe Coin (PEPE) and Ripple’s XRP piqued significant interest. While developments related to the SEC lawsuit unfolded, market analysts ruled out a highly bullish forecast for XRP. Simultaneously, PEPE whales have taken action, moving billions of coins, garnering investor attention.

So, let’s take a closer look at some of the top crypto headlines for this week.

Bitcoin Price Struggles

BTC encountered immense volatility this week, primarily due to massive token dumps to exchanges. Notably, the U.S. and the German governments moved whopping amounts of Bitcoin to CEXs this week, stirring worldwide speculation amid crypto’s turbulent movement.

Simultaneously, a report by CoinGape further spotlighted massive whale dumps, generating bearish market sentiments.

Institutional investors saw this week as an opportunity to shift focus from Bitcoin to altcoins, as the broader industry expects a true correction is underway. The beleaguered exchange Mt. Gox’s plans to repay creditors in Bitcoin and Bitcoin cash has further raised price uncertainty.

However, the US PCE and core PCE inflation cooled down, triggering some positive sentiments in the market. Nonetheless, the broader sentiments convey a further dip in Bitcoin price is possible.

Despite Bitcoin ETFs recording a 4-day inflow streak, the crypto’s price has failed to gain a notable upside momentum. The inflows remain undermined as BTC miners sold whopping amounts of Bitcoin this week, aligning with miner capitulation.

However, the Binance CEO remained immensely bullish on Bitcoin’s long-term prospects.

Pepe Coin Stirs Speculations

Meanwhile, PEPE’s weekly chart showed a highly volatile movement, with the meme coin down to the $0.000011 price level at press time.

A smart money dumped billions of PEPE with 11-fold returns this week, birthing speculations over a topped price action for Pepe coin. Simultaneously, in light of the looming ETH ETF launch, a whale offloaded nearly 1 trillion PEPE to Binance, swapping it for Ethereum.

This strategic shift has sparked negative sentiments over PEPE’s future, although it added a bullish tint to ETH’s future movements.

Also Read: Promising Cathie Wood Stocks To Watch Out For

XRP Creates Buzz

Meanwhile, despite a sluggish price action, analysts took the stage to forecast a highly optimistic $2 price target for the crypto XRP. Amid this optimistic buzz, it was recorded that XRP whales bagged hundreds of millions of the Ripple-backed coin, indicating a potential bolstered price movement ahead.

Ripple president Monica Long further talked about Ripple vs the SEC lawsuit, the RLUSD stablecoin, and a potential XRP ETF launch. This garnered notable bullish sentiments for XRP across the broader industry.

Also Read: Floki Inu Warns Against Scam Tokens on Solana and Base

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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PEPE Jumps 5% In Response To 231B Whale Buyup

Published

4 weeks ago

on

June 10, 2024

By


Fortune might be smiling to PEPE once again as a mega whale went on an accumulation spree over the past 24 hours. This maneuver from the whale comes at a time when the price of PEPE dropped significant, setting a discount move to bag the tokens.

PEPE Price Right For Whale?

According to insights shared by the crypto analytics platform Lookonchain, a whale bought 231.6 billion in about 24 hours. This massive accumulation comes in at $2.9 million, solidifying the position the whale has been taking in the memecoin.

The Lookonchain insight noted that the PEPE whale is not new to the token accumulation scene. Since at least March 16, this whale has bought a total of 750.34 billion PEPE valued at $8.34 million from Kraken at an average price of $0.00001111.

Buying PEPE at this time comes with a very unique twist. This is because this is the time many are likely to sell the tokens considering the fact that it recently attained its All-Time High (ATH). From the ATH of $0.00001718, PEPE has now retraced by 26.38% to its current price at $0.00001262.

One major explanation for this whale action is that there is a major trust in PEPE to continually grow from its current level. Despite the impressive leap from PEPE and other memecoins this bull cycle, market analysts are optimistic that more upside lie ahead for altcoins known to outperform the broader market.

Over the past week, PEPE has dropped by 9.64%, setting a unique ambience for the whale to make a entry for a long-term hold. For memecoins in play to retest their ATH soon, PEPE remains a major favorite.

Bullish Profiling for the Memecoin Market

Beyond PEPE, the memecoin ecosystem is growing at a very positive pace. The memecoin world has grown its market cap to $58,794,310,811, up by 1.95% in 24 hours.

This growth was fueled by the 0.6% surge in Dogecoin (DOGE) to $0.1477, 1.82% jump in PEPE to $0.00001268 and the 0.77% surge in dogwifhat (WIF) to $2.769. Among the key milestones in the ecosystem is the growth in FLOKI’s BNB Chain holders above the 417,000 mark.

Other tokens have also implemented one unique innovation like Shibarium to Shiba Inu and TokenFi to Floki, helping to boost demand. While PEPE is still generally lacking in this regard, it has grown to become a very dedicated community with passion to dethrone SHIB and DOGE in the long term.

Read More: FLOKI Celebrates 417,400 Holder Milestone, Plots Mega Move In India

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Altcoins

‘Last Dip Ever’ – Analyst Predicts Solana Rally, Says Three Memecoins Will Surge Alongside SOL

Published

2 months ago

on

May 8, 2024

By


A closely followed crypto trader believes that Solana (SOL) just witnessed its last major correction for this market cycle.

Pseudonymous analyst Inmortal tells his 213,300 followers on the social media platform X that SOL bulls successfully defended support at around $120.

The trader shares a chart suggesting that the blue-chip altcoin is now poised to rally to a fresh 2024 high at $320.

“Last dip ever.

SOL.” 

Image
Source: Inmortal/X

At time of writing, SOL is worth $153.45, suggesting an upside potential of nearly 110% if the altcoin hits the analyst’s target.

Inmortal also predicts that a trio of memecoins will rally alongside Solana. The trader is taking a close watch on Floki (FLOKI), which he says looks bullish after retesting the 200 moving average (MA) on the eight-hour chart and reclaiming support at $0.00015.

Inmortal believes that FLOKI will dip to around $0.00017 before surging to $0.00025 later this month.

“IF SOL goes up, THEN FLOKI, DOGE, PEPE go up too.

Especially interested in FLOKI

> Deviation + Retest + 200 MA
> A bit lagged.” 

Image
Source: Inmortal/X

At time of writing, FLOKI is trading at $0.000179.

Another coin on the trader’s radar is Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming. According to the analyst, SFUND is currently in the process of cementing the $2.60 level as support.

“Retesting a 578 days accumulation, for the second time.

Definitely, you don’t see this every day.

SFUND.” 

Image
Source: Inmortal/X

Looking at the trader’s chart, he seems to predict that SFUND will rally to $6 in the coming months. At time of writing, SFUND is trading at $2.65.

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