Is Pepe Coin’s Next ATH Around The Corner? Whales Bet Big After Major Listings

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As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of market trends and hype cycles. However, the recent surge of Pepe Coin has caught my attention due to its meteoric rise and the involvement of major exchanges like Binance.US and Coinbase.

Once more, Pepe Coin is grabbing attention in the world of meme coins. Two prominent cryptocurrency trading platforms, Binance.US and Coinbase, have decided to list Pepe Coin for trading. Large investors, or “whales,” are rapidly buying up the token, causing a stir. Could this surge propel the meme coin to a record-breaking new peak? Let’s delve into it.

Exchange Listings Generate Excitement

On December 5, Binance.US declared they would facilitate trades for Pepe Coin versus Tether (USDT). Not much time had passed when Coinbase joined in, listing the token as part of their expanding collection of meme coins.

These listings significantly enhance the accessibility of PEPE for numerous investors, leading to a potential surge in trading activity. It appears that this increased accessibility is indeed driving up the trading volume, as seen here.

The impact can already be seen. In the last month alone, the value of Pepe Coin has skyrocketed by 165%. At this moment, its market capitalization stands at a staggering $9.15 billion. These achievements serve as clear evidence that this coin is not merely another fleeting meme but is gaining substantial recognition within the cryptocurrency community.

Whales Place Significant Bets On Pepe

As a crypto investor, I’m not just thrilled about the new listings; the real excitement lies in the buying pattern of the ‘whales.’ These large-scale investors have snapped up an impressive 337 million tokens, worth approximately $7 million. This kind of activity often signifies faith in the token’s potential to soar, giving me a strong reason to believe that this could be a promising investment opportunity.

Whales continue to accumulate $PEPE!

A whale has withdrawn 337.09B $PEPE($6.92M) from #Binance in the past 20 days.

— Lookonchain (@lookonchain) December 4, 2024

At present, PEPE is priced at $0.0000217 and is inching towards its record high of $0.00002457. The technical outlook bolsters this positivity as the Moving Average Convergence Divergence (MACD) consistently signals a bullish trend, while the Relative Strength Index (RSI) currently stands at 62.45, suggesting robust buying activity.

The appearance of these signals alongside whales implies a temporary optimistic outlook for the cryptocurrency. Now, investor focus has shifted towards the significant barrier at approximately $0.000028105. If the coin manages to surpass this level, it is likely to aim for the next resistance point, which stands at around $0.000036003.

Is A New PEPE ATH On The Way?

Amidst all the current buzz, many people are intrigued about the possibility of Pepe Coin reaching greater heights. Since it was listed on various exchanges, its popularity has significantly increased, and the support from major investors (whales) adds to the hype. The idea that this crypto asset could set a new all-time high is reinforced by the active engagement of the community.

While Pepe may appear promising at present, it’s important to note that it’s not without its challenges. Similar to other meme coins, Pepe is subject to market fluctuations and speculative trading activities. Given the rapid pace of change in this market, investors must exercise caution as they move forward.

Over the coming days, it’s crucial to keep a close eye on Pepe Coin as it nears its All-Time High (ATH). It’s likely that this popular frog-themed cryptocurrency won’t be disappearing from view in the near future. Whether it breaks through resistance or continues to consolidate, it’s unlikely to fade into obscurity any time soon.

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2024-12-07 06:40