PEPE Price May Respond to Whale Buying 🚨

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According to data from Lookonchain, a dormant whale has come back to life after two years. Upon awakening, the whale created a new wallet from which it withdrew a total of 1.79 trillion PEPE from the Binance exchange.

Valued at over $22 million, this transaction placed the token in a position of illiquidity on the open market. According to analysis of the whale's wallet, there had been no prior exposure to the frog-themed meme coin, fueling speculation of a sudden takeover.

PEPE whale transactions have grown significantly over the past week, as the token showed the greatest signs of exploding. The current PEPE price does not yet reflect this reality. At the time of writing, the token was trading at $0.00001246, a decrease of 8.64% in 24 hours.

The daily PEPE/USDT charts indicate sustained volatility for the meme coin going forward. With a Relative Strength Index (RSI) of 63.23, the token is very close to its oversold level.

The Bollinger Bands' extension is the largest recorded since at least January 31. With this setup, volatility is still playing a role and could determine or hinder the token's trend.

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