Whales Show Interest in PEPE as Key Support Holds—Is a Breakout in Sight?
Release: 2024/11/06 17:47 Reading: 588
Cryptocurrency Market Surges as Bitcoin Reaches New High
The cryptocurrency market is experiencing a bullish surge, led by Bitcoin (BTC), which has hit an all-time high of $75,000. This surge coincides with the U.S. election results, where crypto-supporter Donald Trump has secured a victory.
Memecoins Gain Momentum
Memecoins, particularly Pepe (PEPE), have also benefited from the market's momentum. PEPE has surged by over 10% today, reaching $0.0000093. This impressive rally follows a bounce from the support line at $0.0000077.
Whale Interest in PEPE
Whales, large cryptocurrency investors, have shown significant interest in PEPE. According to Lookonchain, three whales have recently withdrawn a combined 835.6 billion PEPE (worth $7.94 million) from Binance and Gate.io. This activity suggests strong demand among institutional investors.
Technical Analysis: Bullish Breakout Potential
PEPE's daily chart indicates consolidation within a symmetrical triangle pattern. The descending resistance trendline (R) and the ascending support trendline (S) bound this pattern. A breakout from the triangle is often followed by significant price movements.
Key Resistance and Support Levels
The immediate resistance is $0.00000988, which has previously acted as both support and resistance. A break above this level could trigger a rally toward $0.00001277, based on the height of the triangle formation.
On the downside, $0.0000077 remains a crucial support level. A drop below this level would indicate a shift towards bearish momentum.
Relative Strength Index (RSI)
The RSI stands at 47.27, indicating neutral momentum. However, there is potential for an upward breakout if buying pressure increases.
Conclusion
PEPE's current price action suggests a potential breakout. Whale accumulation and technical indicators indicate strong bullish sentiment. A break above $0.00000988 could lead to a rally towards $0.00001277. However, a break below $0.0000077 would signal a bearish trend.
Disclaimer: This information is for educational purposes only and should not be interpreted as financial advice.
Recent news
More>- Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025 11-23
- Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025 (22 Nov) 11-23
- New Solana Memecoin Shiba Eats Pepe to Skyrocket 16,000% Before Exchange Listing, as Dogecoin and Bonk Fall 11-23
- Top Trader Calls Dogecoin Budget XRP — Here's Why 11-23
- PNUT, WIF, PEPE Defy the Odds: How High Can These Memecoins Climb? 11-23
- $1k in Dogecoin in 2021 Worth $200,000 Today, Analyst Points to a New Opportunity to Repeat It 11-23
- $440 in Dogecoin (DOGE) Could Turn Into $44000 by November 2025, But One DOGE Alternative Will Do It in 8 Weeks: Surprisingly, It’s Not Shib... 11-23
- 3 Altcoins Priced Under $1 That Could Skyrocket By 6500% 11-23
- DOGE eyes $4 as Bonk and a new coin’s recent breakout hint at potential future trends 11-23
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com