PEPE Price Pumps, But This Meme Coin Whale Prepares for Sell-Off

PEPE Price Pumped, Yet Major Whale Signals Potential Sell-Off

Alongside other meme coins, PEPE has experienced a price surge. Following consecutive all-time highs, the coin's performance has eased.

Whale's Preparation for Sell-Off

Lookonchain reports a large PEPE whale transfer of 700 billion tokens, worth approximately $7.8 million, to Binance. This raises speculation of an imminent sell-off.

The whale (address: 0x83768992b44f9aFad68889CA59F36507fe00d8F7) retains 800 billion PEPE tokens, valued at $9.23 million. However, Lookonchain suggests this investor has incurred a $3.5 million loss, possibly motivating the liquidation of a portion of their holdings.

Conflicting Signals

Despite the whale activity, crypto analysts remain optimistic about PEPE's short-term prospects based on technical analysis:

• Bluntz: Suggests a potential bullish continuation after a "5 wave rise and abc back down."
• ChartMonkey: Highlights a breakout from a descending channel, signaling an end to the correction phase.
• Davie Satoshi: Observes PEPE nearing the upper limit of its price range and speculates on an altcoin and memecoin season.

The conflicting technical and whale activity signals uncertainty regarding PEPE's future trajectory. Its bull run coincides with general market uncertainty, driving investors to consider altcoins and meme coins.

Conclusion

PEPE's current bullish run unfolds amidst market uncertainty. The whale's transfer suggests potential selling, while technical analysis offers a contrasting view. The future of PEPE remains uncertain.