Massive Whale Buy of 9 Trillion PEPE Coins – Price Surge Incoming? 

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Harvey Hunter

Junior Content Creator

Harvey Hunter

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Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

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Last updated: 

September 5, 2024

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After a brief jump earlier this morning, the PEPE price has cooled down somewhat, standing at a 0.77% gain over the past 24 hours, contributing to a wider 1.57% gain among meme coins.

Meanwhile, a whale accumulation of 9 trillion PEPE coins has sparked speculation of a potential PEPE price breakout.

Today’s growth has provided some much-needed relief from PEPE’s recent decline, down 7.48% since last Thursday – one of the worst affected among other notable meme coins.

Indeed, with this significant movement, traders appear to be more engaged with PEPE. The meme coin’s trading volume peaked around $500 million over the past 24 hours.

Whale Accumulates $65M PEPE: What Do They Know?

In a September 4th X post, on-chain transaction platform Whale Alert reported that an unknown whale moved 9 trillion PEPE from Bybit, one of the top crypto exchanges. This substantial transfer, valued at over $64.55 million, has sparked speculation about a potential PEPE price breakout.

This significant transfer, valued at over $64.55 million, has fueled speculation about a potential PEPE price breakout, and recent developments on the PEPE price chart seem to support this notion.

PEPE is currently confined within a falling wedge pattern, reflecting growing volatility as the asset navigates a period marked by fear, uncertainty, and doubt (FUD). As the asset unwinds its selling pressure, this pattern converges toward a potential breakout point.

However, momentum indicators suggest that selling pressure remains dominant.

The Relative Strength Index (RSI) remains subdued, hovering around 40, indicating a bearish bias despite PEPE not being deeply oversold.

This indicates weak buying pressure, reflecting cautious sentiment among traders, which could hinder PEPE’s ability to gain upward momentum unless stronger demand materializes.

Likewise, PEPE’s Chaikin Money Flow (CMF) is struggling to break out of negative territory, currently at -0.025.

This indicates persistent selling pressure, posing a challenge for a potential breakout.

In the near term, PEPE’s most significant challenge is breaking its current consolidation, trading within a narrow range between 0.0000070 and 0.00000755.

To advance, PEPE needs to gain the strength to move beyond this zone and tackle the resistance presented by the 20EMA.

Successfully overcoming this key hurdle could set the stage for a retest of the upper bound of the pattern.

With a breakthrough, the PEPE price may advance towards reclaiming the $0.00001 and push to past highs.

This PEPE Competitor Has Higher Gains Potential

Although traders may want to cling to PEPE for further gains, the meme coin landscape has evolved. The best opportunities now leverage real utility alongside a strong community.

As the leading hype-based coins reach multi-billion dollar market caps, their biggest gains are behind them, and traders are diversifying into the next meme coin set for explosive growth.

Enter Pepe Unchained ($PEPU), a meme coin that transcends conventional utility.

It tackles two of the most significant pain points in the current crypto landscape: transaction speeds and fees.

This liberated evolution of Pepe operates on its own Layer 2 chain, freeing itself from Ethereum’s shackles, offering lower fees and 100x faster transaction speeds.

It’s not just a meme coin, it’s a meme chain!

Something that may be credited to its instant success, raising over $12 million in its presale so far!

This confidence can also be attributed to Pepe Unchained’s commitment to transparency. It has undergone two audits and features its own block explorer, allowing users to track all transactions on its unique chain.

At a temporary fixed presale price of $0.0094982, those who act quickly stand to benefit the most. Investors are currently earning an impressive 168% APY.

This presents a valuable passive income opportunity, even amidst recent market volatility.

Join the Pepe Unchained community on X and Telegram to stay up to date on the latest announcements.

BUY $PEPU NOW