What Is This Frog Covertly Plotting? Discover the Shocking PEPE Surge! 🐸🚀

PEPE has outperformed a few major cryptos lately
On-chain metrics revealed exchanges have seen outflows of $10.15 million in PEPE

Picture this: One of the market’s most whimsical memecoins, PEPE, sashaying its way back up the charts after tumbling down the hill for two whole moons. Freshly adorned with a listing on Japan’s esteemed Bitflyer exchange, our amphibious friend is looking to charm a wider audience.

$10.15 million worth of PEPE outflows

Witness the spectacle! This princely listing is nudging market sentiment towards the warm and fuzzy. Traders and investors are popping out of their lily pads to hop on the PEPE bandwagon, drawing inspiration from their newfound faith in this sartorially inclined frog.

Indeed, on-chain platform CoinGlass trumpets that exchanges are experiencing substantial PEPE withdrawals – Could it be the whales and long-term aficionados stocking up for a grand feast?

Recent revelations show that within just the last 48 hours, exchanges saw $10.15 million worth of PEPE take a graceful leap out of their wallets.

These whimsical outflows have the uncanny ability to whip up buying pressure, potentially leading the way for a merry price rally.

Intraday traders’ participation

Note well, however, this delightful fervor seems to miss the mark with intraday traders, who are living in a parallel pond of their own.

Coinglass reports that the bullish amphibians are placing audacious bets at $0.00001325, with $2.20 million shimmering in long positions. Meanwhile, their bearish counterparts, like disgruntled tadpoles, place wagers at different levels – $0.0000137, $0.00001400, and $0.00001447, holding a formidable $6 million in short positions.

The bulls’ over-leveraged gambles offer strong support, while the bears’ stances dutifully provide resistance. Should PEPE’s price dance either way, these positions will face liquidation, like a frog in a rainstorm.

That’s not all, dear reader! Per Ali Martinez on X (formerly Twitter), the TD Sequential indicator is putting on a show with a buy signal for PEPE on the 3-day chart – suggesting a forthcoming hop in price. 🌧️

Presently, PEPE is hopping along at $0.00001353, having enjoyed a 5.08% leap in the past day. With rising enthusiasm from traders and investors alike, its trading volume surged by 101% to $1.43 billion.

This remarkable ascent has PEPE outperforming the heavyweight cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).

Technical analysis and price prediction

According to a scholarly gander by AMBCrypto, PEPE has reclaimed its sturdy perch at $0.000013, a level lost amidst its prior tumble.

However, the wily frog now faces resistance from the imposing 200 Exponential Moving Average (EMA) on the daily chart. Acting as a gatekeeper, the 200 EMA signals that our green friend is still wading through murky waters at present. 🐸

If PEPE keeps its head above the $0.000013 threshold, historical sagas hint at a potential 20% rally towards $0.0000164.

In a nutshell, sentiment seems to be on the mend, and over time, it could bolster PEPE’s froggy journey towards price recovery.

2025-02-01 16:11

$10.15 million worth of PEPE outflows

Intraday traders’ participation

Technical analysis and price prediction

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