PEPE Moves Signal Investor Confidence as $341M Tokens Withdrawn

The post PEPE Moves Signal Investor Confidence as $341M Tokens Withdrawn appeared first on Cryptos News.

Pepe (PEPE), the popular and third-largest crypto meme coin, is poised for a continued bull rally.

Bullish Breakout In PEPE

According to a crypto expert, PEPE has broken out from bullish flag and pole price action patterns on a six-hour time frame. This suggests a possible 75% surge to $0.0000375.

Technical indicators such as the 200 Exponential Moving Average (EMA) and Relative Strength Index (RSI) also indicate an uptrend and potential for a rally.

$341.5 Million PEPE Outflow

On-chain analytics firm Coinglass reported significant whale activity during a recent price correction. Exchanges saw a $341.5 million outflow of PEPE between November 16 and 30, 2024, indicating whale confidence in the meme coin.

Traders' participation remains moderate, as evidenced by unchanged open interest (OI) over the past 24 hours.

Current Price Momentum

At press time, PEPE is trading near $0.000020, with unchanged price in the past 24 hours and a 10% decrease in trading volume, suggesting reduced trader and investor activity compared to previous days.