Whales Buy $4.3M in PEPE Tokens, Sparking 4.74% Price Surge
1min read Three significant whale wallets—0x7A7D, 0x9212, and 0x7779—have collectively acquired 689.79 billion PEPE tokens, valued at $4.3 million, through TornadoCash, a privacy protocol. The largest purchase was made by wallet 0x7A7D, which acquired 437.7 billion PEPE tokens for $2.72 million. Wallet 0x9212 followed with a purchase of 158.58 billion PEPE tokens for $1 million, and wallet 0x7779 bought 93.51 billion PEPE tokens for $574,000. These substantial acquisitions indicate a strong belief in PEPE's potential for a rebound, as such buying pressure typically drives prices upward by reducing the available supply and bolstering market sentiment.
The td Sequential indicator on the daily chart has triggered a buy signal, suggesting a potential reversal in PEPE's price trend. The daily close at $0.00000597 marked a 4.74% increase, further supporting the bullish outlook. The recent low of $0.00000525 indicates price exhaustion, reinforcing the reversal thesis. If bullish momentum continues, PEPE could surge to $0.00000620, with a potential breakout at $0.00000640–$0.00000660. However, rejection at current levels could lead to consolidation between $0.00000540 and $0.00000580, and a breakdown below $0.00000525 could negate the buy signal, leading to further selling pressure down to $0.00000495.
The recent buying spree has sparked curiosity among investors and traders, with the monumental buys indicating the whales’ enormous confidence in PEPE’s potential to rebound. Such buying pressure tends to drive prices upwards by reducing supply in sight and firming up sentiment. As the price is also rebounding, this pair has the potential to build positive momentum, which would bring in more investors and keep its price going higher even higher in the short term.
