The PEPE meme coin captures investor attention with its steady growth, backed by the withdrawal of a significant amount of tokens from exchanges, which may suggest a continuation of the bull rally.
Bullish Breakout In PEPE
On December 1, 2024, a crypto expert posted on X that PEPE experienced a breakout from the bullish flag and pole price action patterns. Based on the current technical analysis, the meme coin could potentially soar by 75% to reach $0.0000375 in the coming days. Technical indicators such as the 200 Exponential Moving Average and the Relative Strength Index (RSI) also suggest an upward trend. Currently, PEPE's RSI is at 63, indicating room for a further rally.
$341.5 Million PEPE Outflow
According to data from the on-chain analytics firm Coinglass, between November 16 and November 30, 2024, there was a significant outflow of $341.5 million worth of PEPE. The movement of tokens from exchanges to whale wallets highlights strong interest and confidence of large investors in the meme coin. This also suggests potential buying opportunities and the likelihood of a rally in the coming days.
Current Price Momentum
At the time of publishing, PEPE is trading near $0.000020, with its price unchanged over the past 24 hours. Its trading volume has dropped by 10%, indicating decreased activity from traders and investors compared to previous days.
In conclusion, the significant withdrawal of PEPE tokens and positive technical indicators may indicate potential growth in the coming days. The confidence of whales and consistent interest in the meme coin continue to support its market position.
