Whale Transfers $25M Pepe Coin from Robinhood, Raising Questions about Potential Price Surge to $0.00002
The meme coin PEPE is currently trading at $0.00001090, and recent developments suggest a potentially bullish trajectory for the cryptocurrency.
The technical chart, whale transfers, and buy-dominant CVD data all converge on a bullish trajectory for PEPE Coin. Whale Alert reported a transfer of 2.3 trillion PEPE, valued at $25 million, from Robinhood to an unknown wallet, indicating large wallets moving substantial tokens off exchanges. Such whale movements often suggest a shift from exchange-based liquidity toward potential holding, aligning with gradual accumulation phases.
Recent whale activity adds weight to the growing narrative. If buy pressure continues and whales continue to secure assets off exchanges, reduced supply could act as a tailwind for higher valuations. The combination of whale exits and positive taker volume strengthens the bullish case for PEPE Coin.
The technical chart shows PEPE price is trading near the lower boundary of a triangular consolidation on the daily chart. If PEPE breaks above the $0.00001269 neckline, bulls could push toward the $0.00001488 mid-level and potentially $0.00002000. However, upside attempts have faced rejection near $0.00001269 and $0.00001488, which are strong resistance bands.
Spot Taker CVD data shows buy-side dominance, indicating market participants are executing aggressive buy orders over a 90-day stretch, according to CryptoQuant. This buy-dominant CVD reinforces the bullish sentiment.
The long-term picture points to bullish continuation if key resistances are cleared. The long-term forecast continues to emphasise upside potential for PEPE Coin, with the long-term PEPE Coin price forecast suggesting potential for larger expansion, especially if accumulation holds.
PEPE Coin is currently one of the top meme coins, and the token has bounced multiple times from the $0.00000914 support level. Failure to sustain above $0.00001050 could result in renewed selling pressure toward $0.00000914. However, the current market price is slightly above this level, indicating a strong support base.
PEPE price stands at a critical inflection point where bullish conviction could soon dominate. The market is showing signs of tightening ranges and accumulation signals, indicating a potential breakout above $0.00001588 could strengthen the narrative toward $0.00002000.
In conclusion, while PEPE Coin faces resistance at $0.00001269 and $0.00001488, the bullish technical indicators, whale activity, and buy-dominant CVD data suggest a potential bullish continuation for the meme coin. The current market price is at a critical inflection point, and a breakout above $0.00001588 could set the stage for a significant upward move.
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