PEPE sell-off incoming? Whale moves 400 billion tokens to Binance
Release: 2024/08/02 05:34 Reading: 259
- Original author：AMBCrypto
- Original source：https://ambcrypto.com/?p=411073
PEPE Breaches Support, Analysts Predict Further Decline
Short Positions Vulnerable to Liquidation if PEPE Rebounds
Amidst a bearish market downturn, PEPE has plummeted below the critical support level of $0.00001075. Analysts anticipate a potential 20% decline in the coming days.
Crypto Whale Moves Massive Amount of PEPE
According to the analytics firm Lookonchain, a crypto whale recently transferred 400 billion PEPE tokens, worth approximately $4.22 million, to Binance. This move is believed to be motivated by profit-taking amidst the negative market sentiment.
PEPE Price Performance
At the time of writing, PEPE is trading at $0.00001051, down 7.5% in the past 24 hours. The trading volume has increased by 14% during the same period.
Bearish Sentiment
Technical analysis suggests that PEPE is currently in a bearish trend, with a high probability of falling another 20% in the near future. This downtrend is attributed to the general market sentiment and the recent breach of the $0.00001075 support level.
Liquidation Levels
The key liquidation levels for PEPE are $0.000010 (lower side) and $0.0000118 (higher side). These levels represent the bets placed by buyers and sellers over the past 7 days.
Potential Liquidations
If the bearish trend continues, PEPE's price could drop to $0.000010, triggering approximately $2.04 million in long position liquidations. Conversely, if sentiment improves, PEPE's price could rise to $0.0000118 and approximately $13.4 million in short positions could be liquidated.
Disclaimer: This article contains information from sources. Please exercise caution and conduct your own research before making any investment decisions.
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