$341.5 Million in PEPE Moves Off Exchanges, Buy Signal?

Pepe Bullish Breakout and Rally Potential

Pepe (PEPE), the renowned meme coin, stands poised for a sustained bull rally following a period of consolidation. As per an expert's analysis on X (formerly Twitter), PEPE has exhibited a bullish breakout pattern.

Based on the six-hour time frame, the meme coin demonstrates a strong potential to surge by 75% and reach a target of $0.0000375.

Technical indicators including the 200 Exponential Moving Average (EMA) and Relative Strength Index (RSI) corroborate this uptrend. As of now, PEPE's RSI stands at 63, indicating ample room for further growth.

Whale Activity and Momentum

Amidst the recent price corrections, whales have played an active role. Data from Coinglass reveals a substantial outflow of $341.5 million in PEPE from exchanges between November 16 and November 30, 2024.

This outflow suggests a transfer of PEPE from exchanges to whale wallets, showcasing their confidence in the meme coin's prospects. It also presents a potential buying opportunity and increases the likelihood of a rally.

Despite moderate trader participation as indicated by Coinglass, PEPE's price remains steady near $0.000020 with a 10% decline in trading volume compared to previous days.