Pepe Price Analysis 14/07: PEPE Price Surge Attracts Whales, Fueling Trading Frenzy on Binance – Investor Bites

SNEAK PEEK

• Profit-taking whale “0xa54d” seizes the opportunity, eyeing substantial gains.
• Accumulation efforts by “0x37df” signal a long-term bullish outlook.
• The average cost per token acquired showcases a calculated investment approach.

In a recent development in the cryptocurrency market, the price of $PEPE has experienced a significant surge, capturing the attention of seasoned investors and triggering a trading frenzy. As traders sought to capitalize on this bullish trend, two notable whales, identified as “0xa54d” and “0x37df,” made strategic moves with differing intentions.

As the price of $PEPE rose, whale”0xa54d” deposited 3.94T $PEPE ($7M) to #Binance to take a profit of ~$650K.

But another whale”0x37df” continued to accumulate 285B $PEPE ($504K) and currently holds 890.6B $PEPE ($1.56M), the average cost is ~$0.0000014. pic.twitter.com/SdPYYO1TGu

— Lookonchain (@lookonchain) July 14, 2023

Whale “0xa54d” took advantage of the rising PEPE price by depositing 3.94 trillion PEPE tokens, equivalent to approximately $7 million, onto the renowned cryptocurrency exchange, Binance. This move was aimed primarily at securing profits, with the whale looking to gain approximately $650,000.

In contrast, another prominent investor, Whale “0x37df,” chose a different path. Despite the surging price, this whale continued accumulating PEPE tokens, amassing 890.6 billion tokens, equivalent to $1.56 million. Notably, their average cost per token is approximately $0.0000014, indicating a meticulous accumulation strategy.

The influx of these whales into the PEPE market highlights the growing interest and confidence in cryptocurrency. It also serves as a testament to the potential profitability associated with this digital asset, attracting both short-term profit seekers and long-term holders.

Pepe Price/Technical Analysis: PEPE Token surges by 16 percent as Bulls take charge

The price of PEPE has witnessed a meteoric rise of 16.17% over the past 24 hours, propelled by traders’ bullish sentiment. This significant surge in demand pushed the token from its previous level of $0.000001489 to its current rate of $0.000001746 in hours.

The token’s support level is currently at $0.000001489, with further gains likely to be seen soon as more investors enter this lucrative market. However, if bears gain control, the token could face a sharp price decline. The resistance level is currently set at $0.000001827, and a break above this threshold could mean an even higher price for the token in the days to come.

The trading volume for the token has also skyrocketed in tandem with the price rally, currently standing at approximately $328 million, with a surge of over 260% in the past 24 hours. This massive demand further confirms a strong buying pressure for PEPE tokens as investors seek to capitalize on the current price spike. The market capitalization for the token has also spiked exponentially, standing at $684 million and representing a significant increase of 16%.

The daily technical indicators for the token confirm the bullish trend, with the 20-EMA, 50-EMA, and 200-EMA all pointing towards an overall increase in the price. The RSI has also jumped toward the overbought level at 59, showcasing traders’ enthusiasm for the token. The Chaikin money flow indicator has also shot up to 0.01, suggesting that money flows into the token more rapidly. The MACD is also firmly in the green, proving that bulls control the market.

The recent surge in PEPE prices has attracted attention from seasoned investors and whales alike. While one whale sought to capitalize on the short-term gains, another took a more calculated approach by accumulating tokens at an average cost of $0.0000014. Technical indicators also point towards a continued bullish trend, with further increases likely in the days ahead.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

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• Source: https://investorbites.com/pepe-price-analysis14-07/