Fresh Whale Just Makes Big Bet on Ondo and PEPE

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As a seasoned analyst with over a decade of experience in the dynamic world of cryptocurrencies, I have witnessed numerous market cycles and trends. This week has been a mixed bag, with Bitcoin setting new all-time highs while the broader market seems to be taking a breather. The meme coin and DeFi markets’ downturn is not uncommon and often serves as a reminder of the inherent volatility in these sectors.

Regardless of Bitcoin reaching a record high ($103,726) with minimal volatility (0.9%), the overall market has had a sluggish beginning to this week. The meme coin and DeFi sectors have experienced a significant dip due to weakening momentum, suggesting that there are currently few strong bullish signals in the broader market.

Over the recent days, the total value of DeFi cryptocurrencies has decreased by 4.73%, currently standing at approximately $131.87 billion. In contrast, the market cap of meme coins has dropped from its high of $137.06 billion to $116.86 billion within the past week. This downward trend demonstrates the typical volatility found in these types of markets.

New Whale Adds Ondo Finance and PEPE

In contrast to the recent downslide of DeFi and meme tokens, two established coins, PEPE ($0.000023) and Ondo ($2.02), have witnessed new whale investments. These whales, making significant purchases, have chosen newly created wallets on the BingX platform. Large-scale buys by whales are frequently seen as strategic accumulation moves.

Over the last few hours, a significant investor has amassed approximately 519.34 billion PEPE tokens valued at around $12.16 million and 5,825,243 Ondo tokens worth roughly $11.93 million. This new investment in both PEPE and Ondo indicates growing backing for these tokens, even amid temporary setbacks within the crypto market. These transactions serve to bolster faith in particular digital assets.

Lately, it’s been reported that Donald Trump’s World Liberty Finance has acquired $250,000 worth of Ondo tokens. This move signifies the increasing backing from Donald Trump for DeFi tokens within the World Liberty Finance (WLF). These types of actions bring more institutional attention to the ongoing storyline surrounding Decentralized Finance (DeFi).

Ondo Price Targets $3 amid Bull Run Chances

On a 4-hour scale, the Ondo chart demonstrates a bullish breakout of a descending channel formation. This breakout has propelled the price by approximately 55.67%, climbing from its lowest point at $1.29 to the current trading level of $2.01. This significant rise suggests a resurgence of investor trust.

Reaching a new peak of $2.14, Ondo token maintains its control above the significant $2.00 threshold. As the upward surge persists and gains strength, Fibonacci projections suggest a potential price goal at around $2.42 or the 100% Fib level. If this upward trend endures, it appears that even higher objectives could be within reach.

Moving forward, the significant Fibonacci level at $1.618 suggests that the $3.00 psychological barrier could be reached by December’s end if the overall market experiences a recovery. The uptrend in the MACD and signal lines, accompanied by new bullish histograms, lends credence to the possibility of an ongoing bullish trend. These technical indicators bolster the optimistic perspective.

Pepe Coin in a Triangle Trap Eyes a 28% Breakout Run

On the 4-hour chart, the PEPE price movement exhibits a fresh downtrend within a descending triangle configuration. As it approaches the 100-day moving average line, this meme coin has declined by 2.55% over the last 4 hours. In the immediate future, bearish influence is clearly dominant.

Currently, PEPE is priced at approximately 0.00002317 USD and seems to be approaching its nearby support trend line. The recent price decline has led to a bearish intersection between the MACD and signal lines, suggesting a possible prolonged bearish trend. Nevertheless, there are indications hinting towards potential recovery.

In simpler terms, when the 4-hour Relative Strength Index (RSI) line shows a bullish divergence at $0.00002970, it suggests that an uptrend might continue if the larger market recovers. These divergences often act as early indicators of potential trend changes.

Using Fibonacci ratios as a guide, the breakout of the triangle pattern could potentially reach a new peak at approximately $0.00002970. Conversely, if the market trends bearishly, significant support levels can be found at $0.00002240 and $0.00002129. These key levels will significantly influence the short-term trend’s direction.

Conclusion

As a crypto investor, I’m excited about the recent entrance of a significant whale in both PEPE and Ondo. The current price action suggests a strong undercurrent of optimism. With Ondo hitting a new peak, if the market conditions improve, we might witness a breakout rally for PEPE. These types of movements are usually indicators of bigger market trends to come.

For now, it seems that whales might be buying Blue Chip, meme, and DeFi tokens at reduced prices in anticipation of the next market surge. This phase could present advantageous investment chances for shrewd investors.

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2024-12-16 15:10