- Whale activity on PEPE signaled potential market reversal, despite recent price decline.
- Network growth slowdown and technical indicators suggested a cautious outlook for further price movement.
Notable action involving whales in the Pepe (PEPE) market is currently drawing interest, as approximately 427 billion PEPE ($8.5 million) has been deposited into Kraken within the last 30 hours, resulting in significant shifts in the market.
Holding approximately 1 trillion PEPE tokens (equivalent to around $18.4 million), this significant investor has seen substantial returns, one of which was a profit of $2 million from their most recent investment move.
In the past, it made $11.7M on PEPE, highlighting its belief in the token’s potential.
Currently, the meme coin is being exchanged for approximately 0.00001845 dollars, showing a drop of 10.18% over the past day. Does this increased whale involvement suggest an upcoming surge, or will these resistance barriers impede further advancement?
What’s next for PEPE’s price movement?
Right now, the token PEPE’s price movement is at a significant point. It’s currently probing important floor prices, and it’s maintaining itself close to the area where there’s strong buying interest, approximately $0.00001701.
If the current pricing stays consistent, there might be an indication of a rebound approaching the significant resistance point around $0.00002196.
If buying support weakens, the token PEPE might experience a decrease. Consequently, its future direction could hinge on whether sellers are held at bay and the market continues to rise.
Does the network growth suggest a bullish future?
The progression of network growth has shown a decrease, reaching levels similar to those seen in 2006 as of the latest update. This implies a potential reduction in user interaction and trading activities, a trend that often arises after significant changes in prices.
On the other hand, it might simply be a short-term pause. The impact on prices over time hinges on whether whale activity will stimulate new network expansion and enhance investor confidence.
Technical indicators
In simpler terms, the Parabolic SAR (Stop and Reverse) suggests that the current price of PEPE is higher than its previous points, indicating a strong upward trend or bullish movement in the market. At the moment, PEPE is being traded at $0.00001705, reflecting a positive trend.
According to the Directional Movement Index (DMI), the positive direction (+D) was at 17.876, while the negative direction (-D) stood at 20.485. The Average Directional Index (ADX) was at 19.20. This suggests that the bears are still dominating, but the trend’s strength is starting to wane.
If buyers increase pressure, momentum could shift, and the bulls might take charge.
Is the market ready for PEPE to break resistance levels?
As an analyst, I’ve been examining the Long/Short ratio, and it appears that a significant 65.07% of positions are held long, suggesting a strong bullish sentiment. Coupled with recent whale activity, this data points towards the possibility of the memecoin overcoming key resistance levels, potentially leading to an upward trend.
If the sentiment changes and buyers no longer lead, the advancement might halt for PEPE. The continuation of purchasing enthusiasm and surmounting resistance are crucial factors determining the success of PEPE’s upward trend.
PEPE could see more expansion thanks to the influence of large investors (whales) and a widespread optimistic outlook. Yet, surmounting significant resistance thresholds is still vital.
Read Pepe’s [PEPE] Price Prediction 2025–2026
If it manages to maintain strong backing and exceed its price ceiling, it might witness a significant increase in value. Should the demand not be robust enough, the ceiling may prevent further progress.
Therefore, PEPE’s ability to break through resistance will determine its next price movement.
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2025-01-09 07:03