1 Trillion PEPE Shifted to Binance: What This Means for Pepe Coin Price Prediction

cryptonews.com:

The Pepe Coin price has risen by 4% today, reaching $0.00001247 as the wider crypto market barely moves in the past 24 hours.

PEPE is now up by 7% in the past week, but down by 5% in a fortnight and by 25% in the last 30 days.

Despite these losses, the popular Ethereum-based meme coin has maintained a very impressive 700% gain in the past year.

And even if a whale has transferred 1 trillion PEPE to Binance in the past few hours, it still looks good for the coming weeks and months.

PEPE looks as though it may come down a little in the near term, with the coin actually losing 1.5% in the past hour.

Its indicators also suggest that it should be sinking a little before rallying again, with its relative strength index (purple) falling from nearly 80 last night to 50 today.

Having said that, PEPE’s 30-day average (orange) climbed over the 200-day only a day ago, implying that it has just entered a growth phase.

One encouraging feature is PEPE’s 24-hour trading volume, which has just topped $1 billion today, up from $350 million a few days ago.

Yet some of this volume may come from selling, with a whale sending just over 1 trillion PEPE to Binance earlier this morning.

In the past hour, whale "0x837" transferred 1.1T $PEPE ($14.2M) to the #Binance deposit address "0x0b1". Watch out if this will soon be unloaded to the CEX.

Note that the whale still has 300B $PEPE ($3.78M) left, and the estimated total loss from $PEPE is $1.7M (-5.69%).

Follow… pic.twitter.com/5TETNGmibD

— Spot On Chain (@spotonchain) June 26, 2024

This comes in addition to yesterday’s transfer of 700 billion PEPE ($7.8 million) to the very same exchange, adding to the strong suspicion that whales have currently entered sell mode as far as the meme token is concerned.

For