PEPE Soars 35% in a Week, But Faces 2% Correction Amid Whale Activity
Over the last 12 hours, Pepe (PEPE) has been trading at $0.0000109 , experiencing a 2.04% decline in the last 24 hours, despite a 35.42% surge over the past week​( CoinGecko )​( crypto.news ). The meme coin has generated significant attention in the crypto space due to heightened whale activity and its continued growth in popularity.
Key Market Developments:
Whale Accumulation : Whale activity has been a crucial factor in PEPE’s recent performance. Multiple large-scale purchases, including one involving $800,000 worth of PEPE, have contributed to its recent surge​( CryptoPotato ). This uptick in buying pressure has led to a week-long rally, positioning PEPE among the best-performing memecoins in the market.
Market Sentiment : The broader cryptocurrency market has shown signs of recovery, with a 3% increase in global market capitalization over the last 24 hours. This positive sentiment has helped fuel PEPE’s rise, which remains a favorite among memecoin traders​( CryptoPotato )​( crypto.news ).
Technical Outlook : PEPE is currently trading in the $0.0000107 – $0.0000115 range, with strong support at the lower end. However, given its rapid price increase, analysts are cautious about potential profit-taking by short-term holders. If PEPE can break through resistance at $0.0000115 , it may aim for higher targets​( CoinGecko ).
Read More: https://onthenode.com/cryptocurrency/pepe-soars-35-in-a-week-but-faces-2-correction-amid-whale-activity
Over the last 12 hours, Pepe (PEPE) has been trading at $0.0000109 , experiencing a 2.04% decline in the last 24 hours, despite a 35.42% surge over the past week​( CoinGecko )​( crypto.news ). The meme coin has generated significant attention in the crypto space due to heightened whale activity and its continued growth in popularity.
Key Market Developments:
Whale Accumulation : Whale activity has been a crucial factor in PEPE’s recent performance. Multiple large-scale purchases, including one involving $800,000 worth of PEPE, have contributed to its recent surge​( CryptoPotato ). This uptick in buying pressure has led to a week-long rally, positioning PEPE among the best-performing memecoins in the market.
Market Sentiment : The broader cryptocurrency market has shown signs of recovery, with a 3% increase in global market capitalization over the last 24 hours. This positive sentiment has helped fuel PEPE’s rise, which remains a favorite among memecoin traders​( CryptoPotato )​( crypto.news ).
Technical Outlook : PEPE is currently trading in the $0.0000107 – $0.0000115 range, with strong support at the lower end. However, given its rapid price increase, analysts are cautious about potential profit-taking by short-term holders. If PEPE can break through resistance at $0.0000115 , it may aim for higher targets​( CoinGecko ).
Read More: https://onthenode.com/cryptocurrency/pepe-soars-35-in-a-week-but-faces-2-correction-amid-whale-activity
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