A large transaction with Pepe Coin (PEPE) has drawn considerable interest from investors, suggesting growing confidence and potential price surge.
Pepe Coin Whale Withdraws 500B Tokens from Binance
According to the analytics platform Lookonchain, a newly created wallet recently withdrew 500 billion PEPE tokens from Binance. This substantial accumulation has strengthened bullish sentiment, reinforcing expectations of a supply squeeze on centralized exchanges. Typically, large withdrawals signal long-term holding intentions, reducing circulating supply and increasing demand. Market participants have responded positively, viewing this whale activity as a precursor to an upcoming price breakout.
PEPE Outperforms Bitcoin and Rivals
Despite market fluctuations, PEPE has demonstrated exceptional resilience, outperforming major crypto, including Bitcoin. Over the past week, PEPE has posted double-digit gains, while Bitcoin’s price action has remained relatively stable. Additionally, other meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), have struggled to match PEPE’s upward momentum. The surge in PEPE’s value reflects growing investor confidence, reinforced by increased whale activity and a strong technical setup.
Analysts Predict PEPE Rally to $0.00012
Charting Guy, an established crypto trader, pointed to Fibonacci extension levels towards $0.00012 price levels. According to his analysis, the given chart is in wave 3 of the Elliott Wave, which traditionally indicates further rising movements. According to the Fibonacci 2.618 level, PEPE could experience another parabolic move, further fueling bullish sentiment.
The continuous rise of PEPE and the increasing interest from investors may lead to further price increases in the coming months, especially considering the current market trends.
