Pepe whales are making some serious moves, scooping up over 400 billion tokens after last week’s selloff. And guess what?
The PEPE community is buzzing with excitement, speculating that a price increase might be just around the corner.
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Whale hello there!
In the last 24 hours, these big players have been withdrawing and buying like there’s no tomorrow.
After last week a whale dumped billions of tokens into the market, it’s no wonder now everyone is on high alert for a potential PEPE price rally.
Two notable whales, known as Ox8f5 and Oxb1a, have been particularly busy, Ox8f5 has bagged a 280 billion PEPE, while Oxb1a isn’t far behind with 200.4 billion.
But here’s where it gets interesting: Ox8f5 withdrew around $5 million worth of tokens straight from Binance, while Oxb1a opted to buy their stash for 3.72 million USDC.
Interestingly enough, Ox8f5 has taken a hit, losing nearly $1.45 million on their investments so far.
Despite the price drop, whales are clearly betting on a rebound, and they’re buying up tokens left and right, so the community is feeling optimistic about a potential price surge as these big players act quickly when prices dip.
What does the PEPE chart says?
Even with all this whale activity, PEPE’s price hasn’t exactly skyrocketed yet. In fact, it’s down 3.59% in the last day and currently trades at $0.00001724.
Over the past week, it’s down by 17.93%, and if you look at the month, that number jumps to 28.97%.
But there are good news too, because open interests and trading volume are both seeing some upticks of 0.41% and 16.53%, respectively.
Still, sentiment towards PEPE remains quite bearish with a Fear and Greed Index sitting at 62 points and volatility around 10.13%.
There will be a PEPE rally, or not?
Analysts are cautiously optimistic about a potential rally for PEPE coin in the near future.
Just remember, this crypto world is as unpredictable as your favorite soap opera plot twist, prices can swing wildly based on various factors.
Last week when another whale made headlines by dumping 85 billion coins into the market for about 1.51 million USDC, they had everyone speculating about further sell-offs on the horizon. But now?
Whales are flipping the script by buying the dip instead, and if they keep this up, we might just see some positive momentum soon.
