A PEPE whale sold 2.2 trillion tokens at a $3.5 million loss across three Binance deposits.
PEPE formed a bullish flag with a possible 102% upside to $0.00002051 if confirmed.
RSI dropped to 37.65, signaling weak momentum and approaching oversold territory.
The market for the meme token PEPE is presenting a conflicting picture for traders, as significant bearish on-chain activity clashes with a potentially bullish technical chart pattern.
While a major whale has exited a multi-trillion token position at a loss, a classic continuation pattern on the daily chart suggests the potential for a significant rally.
On-Chain Data: A Major Whale Exits
According to data from on-chain tracking service Lookonchain, a large PEPE whale has exited their full 2.2 trillion token position, recording an estimated $3.5 million loss. According to Lookonchain, the wallet address 0x6ea4…FE0 deposited the final 600 billion PEPE tokens to Binance about 50 minutes ago, completing a month-long sequence of returns to the exchange.
On-chain data confirms the whale had withdrawn 2.2 trillion PEPE from Binance in …
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