PEPE Whale Unleashes $52.25M of F Renegades…Again 🚨

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The cryptocurrency underworld was flabbergasted when a Pepe (PEPE) whale’s unorthodox strategy garnered a staggering 17,026x return on its investment. The whale had initially invested a meager ₿ 32 (approximately $3,010 USD), buying 4.914 trillion PEPE tokens at a price of $0.0000061 in back in April 2023.

The whale wallet, identified as “0xc25”, surprisingly moved tokens for the first time in six months, unloading 500 billion PEPE tokens on the notable cryptocurrency exchange Coinbase. Guess what? The whale cashed out a whopping $35.52 million. However, it still holds on to 1.25 trillion tokens, worth approximately $15.73 million.

As the crypto community buzzes with speculation, market participants are whispering that the whale may be an insider, secretly offloading tokens over time. But, alas, such whispers cannot be proved. The PEPE community has taken a bearish stance following the transfer of tokens, causing the meme coin to dip. As per CoinMarketCap, PEPE now trades at $0.00001239, down 2.97% in the past 24 hours.

Here’s the gruesome truth: PEPE boasts a whopping 394.06K holders, with a pathetic 84.77% owning a meager $0-$1K in the meme coin. A dismal 14.74% of wallets have sunk $1K to $100K into this digital asset. Considering its 1075.93% price surge in the past year, it’s still a promising meme coin at today’s prices.

The Infamous Pepe Price Analysis

PEPE’s price chart has taken a nosedive, dropping 21% in the last seven days and 30% in the past month. However, the Relative Strength Index (RSI) for the cryptocurrency on the daily chart shows a hopeful, yet uncertain, sign for the meme coin.

Source: TradingView

As seen in the daily chart below, the RSI reads a valiant 33.60, rebounding sharply after PEPE token touched the oversold levels. In the past year, the altcoin has kissed the oversold levels only twice, and the gradient of the line suggests the bulls are attempting to buy the dip in PEPE prices.

Source: TradingView

However, the PEPE price action is retesting the lower region of the Bollinger Bands, and the chances of a rebound are mere speculation. If the lower levels hold, we might see a hopeful rebound, but if not, the meme coin’s price could plummet further.

The MACD indicator, however, tells a different story. It confirmed a bearish divergence a few days ago, and since then, the price action of the meme token hasn’t been quite good. The MACD histogram, a harbinger of doom, remains red.

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2025-01-29 18:40