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! ! All $PEPE holders please check this out now! !
PEPE has been volatile since reaching its all-time high, which indicates market instability.
The famous whale has made a whopping $4.82 million in less than six months on a $494,000 investment.
The popular frog-themed meme coin PEPE has been through a choppy period, with its price down 3.50% in the past 24 hours and trading volume down 5.20%. This volatility comes after setting a new all-time high (ATH) of $0.00001718 8 days ago. Over the past week, PEPE has fallen 10.21%, reflecting the overall bearish sentiment in the market.
Despite the recent decline, PEPE has been quite strong in mid-May, continuing to set new highs and firmly occupying its position as the third largest meme coin by market capitalization. In a month, the token has surged by 65%, highlighting its huge potential and attracting high attention from investors and traders.
One thing worth noting in the PEPE market is the recent activity of a well-known whale. The investor deposited 365.96 billion PEPE with Binance, worth $5.3 million. It is worth mentioning that the whale withdrew the same amount of PEPE from MEXC in mid-December 2023, which was worth $494,000 at the time. This transaction created an excess profit of $4.82 million and an amazing 976% return on investment in less than six months.
At the same time, analysts have observed that the weighted sentiment around PEPE on social media platforms is volatile, indicating a lack of a unified narrative. In just a few days, the community sentiment has been swinging between bullish and bearish, showing that PEPE's market behavior continues to fluctuate.
Can PEPE bulls turn the tide?
Technical analysis of the daily chart of PEPE shows a bearish trend, with the 9-day exponential moving average (EMA) at $0.00001461 and the current price at $0.00001423. The daily relative strength index (RSI) is 58, indicating a neutral position. If the bulls can regain momentum, the price may rise to $0.00001562 USD, with a subsequent target of $0.00001735 USD.
On the contrary, if bearish forces prevail, the price could fall to $0.00001353 USD. As it navigates these choppy waters, market participants remain divided over its short-term outlook, though its recent history of rapid gains has firmly placed it on the radar of cryptocurrency enthusiasts.
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