A recent whale purchase of 227.8 billion PEPE tokens for $2.68 million attracted trader attention and contributed to price increases.
Large Whale Purchase
A whale wallet identified as 0x06b3 spent $2.68 million to purchase 227.8 billion PEPE tokens. This transaction occurred yesterday and has drawn the attention of traders. Following the large buy, PEPE’s price increased to $0.0000127, gaining 15% in the last 24 hours and 30% over the past week. The buying activity has fueled bullish sentiment among traders.
Data Points to Growing Investor Confidence
Data from IntoTheBlock show that 57% of current PEPE holders are in profit, holding around 239.32 trillion tokens worth roughly $3.08 billion. This suggests a lower chance of mass sell-offs from this group, as they are not under pressure to exit at break-even levels. Additionally, 6.8% of holders are at the money, potentially influencing near-term price direction.
Resistance May Trigger Selling
Around 36% of holders are currently out of the money, with average entries between $0.000013 and $0.000021. As PEPE approaches these levels, this group may begin selling to recover losses, which could slow further upward movement. Traders are monitoring these resistance areas closely.
Despite the current uptrend, it is important to monitor resistance levels that may trigger selling among investors. Interest in PEPE continues to grow, potentially leading to further market dynamics.
