Synopsis: Bitcoin’s price has stagnated around $60k forecasting uncertainty in the crypto market. This resulted in a sideways movement of Altcoins recovering their prices substantially with Pepe coin price trading within a range of $0.00000913 and $0.0000078 on May 4th, 2024
Pepe Coin Prices showed a substantial recovery amidst Bitcoin prices being stuck at $60k since the last fortnight. Pepe meme coin price rebounded from $0.00000393, a steady recovery since mid-April. According to Coingape, the Pepe coin price reached the current trading price of $0.00000881, a positive upswing surge of 124% within a month. The crypto traders’ daily charts showed higher highs and lows suggesting active accumulation by buyers indicating a potential sustained rally.
Pepe Coin Price Affected by Whale Activity
Whales hugely influence the crypto exchange prices with their buying and selling activities. The trader Oxa14 made a significant transaction withdrawing a large amount of Pepe tokens during the market dip. This reinforced the positive bullish sentiment in the market.
Analysts predict that PEPE is likely to break the overhead resistance of $0.00000913, potentially leading to further price increases towards $0.0000108 and $0.000012.
What’s Next for the Pepe Meme Coin?
The strategic withdrawal of PEPE tokens by Oxa14 is a testament to their successful trading strategy, boasting a perfect win rate and generating an estimated $2.59 million in profits.
Currently holding 660 billion PEPE tokens, valued at roughly $5.74 million, Oxa14’s continued accumulation suggests that seasoned investors are confident in a sustained upward trajectory for PEPE.
This bullish sentiment strengthens the likelihood of the coin price breaking through the overhead resistance of $0.00000913. If successful, this breakout could pave the way for a significant rally, potentially pushing the price towards $0.0000108, and eventually reaching $0.000012.
Crypto markets, however, are susceptible to fluctuations frequently. An individual should do their own research before investing in crypto markets to avoid irreplaceable losses.
