Is PEPE Set for Another Rally as Whale Activity Intensifies?

PEPE Surges Amid Whale Activity and Consolidation

PEPE, the Ethereum-based memecoin, has experienced a 3% surge in the past 24 hours, trading at $0.00002103. This follows a remarkable 158% increase over the past month, although it remains below its all-time high (ATH) by 18%.

Whale Accumulation

PEPE has recently seen significant whale activity. Notably, one whale purchased 240 billion PEPE tokens for $3.64 million on May 29. Despite a subsequent price drop, the whale held their position for six months and later sold the tokens for $4.95 million, realizing a profit of $1.31 million.

Large holder movements have also shifted, with a net inflow of 580 billion tokens recorded on December 3. An anonymous whale has also accumulated over 337 billion PEPE, contributing to speculation of potential future price surges.

Mixed Market Sentiment

However, market sentiment among large holders has recently turned bearish. A significant deposit of 356.2 billion PEPE tokens ($7.3 million) to Kraken suggests a shift in sentiment. This may exert downward pressure on the price if whale accumulation does not continue.

Analysts' Outlook

Analysts believe that PEPE could retest its resistance level at $0.0000227 if bullish momentum continues. However, the support level is seen around $0.00001885 if bearish sentiment persists.

Ongoing Volatility

PEPE's consolidation and increased whale participation reflect the volatility surrounding its future price movements. Traders and investors are closely monitoring these developments, with some predicting further upside if whale accumulation continues.

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