Despite Bitcoin's solid performance, many memecoins and altcoins like PEPE faced a downturn. Leading investors have begun purchasing PEPE, anticipating its potential rise.
Whale Accumulation
PEPE's critical dip of 60% over the past two months has attracted major investors. Onchain Lens reported a whale moving 375.35 billion PEPE worth $3.71 million from Binance, indicating a potential price increase.
Historical Pattern
Crypto analyst Jameson suggests PEPE's current 12-hour chart pattern mimics last year's actions. Back then, after a December dip, meme coin attempted a breakout in January, followed by a February drop before rising nearly 10x to March, reaching from $0.0000011 to a peak of $0.00001081.
Final Thoughts
For traders observing memecoins, PEPE remains a key asset as the crypto market demonstrates renewed strength. This current low could be the perfect accumulation point if history is any guide.
PEPE remains a crucial watch for traders, especially with the possible upturn in the crypto market. Investors buying now might benefit significantly if a past growth pattern repeats.
