Pepe Coin Whale Bags 9 Tln Coins, PEPE Price Breakout Ahead?

A recent Pepe Coin whale transaction has caught the eyes of investors today, with the PEPE price rising around 1% during writing. According to reports, a whale has purchased a massive amount of the crypto, signaling increasing confidence toward the leading meme coin. This move has sparked speculations over a potential breakout for the crypto, considering the growing market interest.

Pepe Coin Whale Buys 9 Trillion Coins

The leading on-chain transaction tracking platform, Whale Alert reported that an unknown whale moved 9 trillion PEPE from Bybit, one of the top crypto exchanges. The wallet address “0x88a…3Ade3” conducts the transaction, valued at over $64.55 million, showcasing robust confidence in the meme coin.

This substantial accumulation has caught the eyes of crypto market enthusiasts, fueling speculations over a potential price breakout. In addition, the bold move by the whale suggests growing optimism in the market, with many seeing it as a sign of renewed investors’ confidence in the leading meme coin’s potential.

Meanwhile, with this massive move, market analysts are keeping a close watch on the crypto’s price action. In addition, a flurry of market watchers are considering this significant whale move as a catalyst for a potential price breakout.

PEPE Price Breakout Ahead?

The sentiment on the leading meme coin appears to have faded lately, especially since May end of this year, when the crypto touched an all-time high of $0.00001718. In addition, the latest volatile scenario in the broader financial sector as well as in the crypto market also weighed on the meme coin’s performance.

As of writing, the PEPE price was up 0.93% to $0.000007298, with its trading volume soaring 45% to $521.55 million. Over the last 24 hours, the crypto has touched a high of $0.000007512 and a low of $0.000006896, indicating a highly volatile trading scenario. Besides, CoinGlass data showed that crypto’s Futures Open Interest dropped 6.46% to $81.14 million, indicating a still-bearish sentiment hovering in the market.

However, the latest Pepe Coin price analysis showed that recently a bullish signal flashed on the crypto’s weekly chart, which could trigger a rally of 260% in its price. In addition, it also showed that the last time the signal was spotted, the leading meme coin had rocketed 1600% in 98 days. Notably, according to the analysis, the meme coin could rally to a new high of $0.00001872 if it breaks a key resistance.

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Rupam Roy

Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.