Pepe Coin (PEPE) is showing signs of recovery amid the broader crypto market uptrend. Over the past 24 hours, the token's price has increased by 7,23%, with large investors accumulating more PEPE tokens. Analysts suggest that this may be just the beginning and that PEPE could rally by up to 215%.
Whales Accumulate PEPE
According to Lookonchain, major holders are actively purchasing the token. Three key "whale" wallets have acquired a total of 689.79 billion PEPE tokens worth $4.3 million:
- Wallet 0x7A7D spent 1,413.4 ETH ($2.72 million) to buy 437.7 billion PEPE.
- Wallet 0x9212 invested $1 million in 158.58 billion PEPE.
- Wallet 0x7779 purchased 93.51 billion PEPE for 299 ETH ($574K).
Current Market Conditions for PEPE
At the moment, PEPE is trading at $0.000006381, up 7,4% in 24 hours. However, the token had previously lost nearly 12% over the past week, indicating a recovery phase.
- Market capitalization: $2.68 billion
- 24-hour trading volume: $932.74 million (-6,35%)
Despite the rebound, PEPE remains below the 200-day Exponential Moving Average (EMA), meaning a full-fledged bullish rally has not yet begun. The $0.0000062 level serves as a critical support — if PEPE holds above it, it could trigger further upside momentum.
Can PEPE Rally by 215%?
Technical indicators present mixed signals. While most moving averages remain bearish, the token is approaching a key support zone, which could either fuel a breakout or lead to another decline.
According to crypto analyst Max, buying volume is increasing while selling volume is declining — indicating a "bullish divergence." This suggests that market sentiment is shifting towards an upward trend.
Max believes that PEPE is preparing for a potential 60% price movement, which could either break out to the upside or result in a pullback. Some experts anticipate a brief correction before a sustained uptrend.
- First target: $0.000012 (+90%)
- Stage 3 target: $0.00002 (+215%)
However, for PEPE to achieve such gains, it will require significantly higher trading volumes and a strong bullish market sentiment.
A Trader Turned $3K into $73M on PEPE
PEPE has already demonstrated explosive growth, rewarding early investors significantly. One notable trader, who started with $3,000, managed to earn $73 million from the token.
- He initially purchased 4.91 trillion PEPE in April 2023.
- Over time, he sold portions of his holdings, realizing $27.5 million in profits.
- He still holds 1.88 trillion PEPE, valued at $45.66 million.
On December 9, 2024, PEPE reached its all-time high of $0.00002825. Over the last month, the memecoin has surged by 115%, with daily trading volume increasing by 76,14% to $12.02 billion.
Despite its high volatility, PEPE remains an attractive asset for traders seeking high returns. However, as with any memecoin, investors should be cautious, considering the risks and potential price fluctuations.
Will PEPE reach new highs, or is another correction on the horizon? 📈🔥
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.
