Whales Dumping Pepe Coin As Prices Correct, Time To Sell?
Release: 2024/11/29 00:45 Reading: 645
Whale Strengthens Pepe Coin Position
A whale has recently moved 254.65 billion Pepe coins (approximately $5.15 million) to Binance, resulting in a $4.81 million profit within 13 hours. This move suggests potential preparations for a market correction after a significant rally in the coin's value.
The whale now holds a total of approximately 430 billion PEPE, valued at $8.13 million, with an unrealized profit of $7.74 million, representing a 13x return. Profit-taking in volatile meme coin markets is not uncommon.
Technical Analysis of Pepe Coin
The chart shows price volatility in the PEPE/USDT pair, with green candles indicating buying pressure and red candles selling pressure.
- The price is currently below the 50-SMA, suggesting short-term bearishness.
- It is also below the 100-SMA, indicating a bearish signal that could continue in the near and medium term.
- The Pepe coin price has been below the 200-SMA, supporting an extended bearish outlook.
- Support levels exist at 0.00001990 and 0.00001850.
ADX Indicates Bearish Outlook
The Average Directional Index (ADX) chart shows a value of 30.22, indicating a strong bearish trend, supported by the price remaining below moving averages and a high ADX.
Whale's Portfolio Diversification
Beyond meme coins, the whale's portfolio includes 3.96 million $DOGE (with a realized profit of $1.5 million) and 2.5 million $LDO (with a realized loss of $432K). This diversification strategies help mitigate risk across market segments.
Should You Sell Pepe Coin?
This whale movement raises questions about whether it's time to sell Pepe coin. A decision should be made after careful consideration of market trends, personal投资 objectives, and risk tolerance levels.
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