PEPE AWAKENS WITH STRENGTH! It shoots up 14% as Bitcoin surpasses $118K
Whales accumulate, while exchanges run out of the popular memecoin?
The price of #PEPE has surged 14% in the last 24 hours, driven by large-scale purchases and a widespread rebound in the crypto market, which saw #bitcoin exceed the $118,000 mark.
This spike was directly related to intense "whale" activity. Data from Nansen shows that the top 100 PEPE addresses increased their holdings by more than 1% in just the last day, accumulating up to 304.1 trillion PEPE.
At the same time, PEPE holdings on exchanges have continued to decline, suggesting strong accumulation outside of CEX, reducing immediate selling pressure.
In the last month, the top 100 PEPE addresses increased their holdings by 2.3%, while the total amount of tokens on exchanges fell by 2.17% to 252.2 trillion.
Technical signals also point to sustained momentum for PEPE.
During the rally, the token traded in an 18% range, with lows of $0.000009823 and highs of $0.000013068. A key resistance level emerged at $0.000012482, where price reversals with high volume were observed, according to analysts.
Meanwhile, strong support held near $0.000011013, indicating that traders aggressively bought on dips.