- Pepe Coin (PEPE) recently surged 7% as whales invested $4.3 million, boosting confidence and signaling a potential 215% rally if it maintains key support at $0.0000062.
- While short-term bearish trends persist, increasing buy volume and bullish divergence suggest a possible breakout toward $0.00002.
The cryptocurrency market is seeing a resurgence, with meme coins like Pepe Coin (PEPE) leading the charge. The recent surge in PEPE’s price, fueled by major whale activity, has sparked speculation about a potential 215% rally. But is this rally sustainable, or is it just another temporary spike? Let’s break it down.
Whale Activity Sparks Confidence
One of the biggest drivers behind PEPE’s recent 7% surge is the accumulation of the token by major investors, known as whales. Three major wallets purchased a combined 689.79 billion PEPE tokens, worth approximately $4.3 million. This influx of investment has boosted confidence among retail investors, as whales typically signal long-term bullish sentiment.
Here’s how the whale purchases were distributed:
- Wallet 0x7A7D spent 1,413.4 ETH ($2.72M) for 437.7B PEPE.
- Wallet 0x9212 spent $1M for 158.58B PEPE.
- Wallet 0x7779 spent 299 ETH ($574K) for 93.51B PEPE.
This massive accumulation suggests that large investors believe in the future potential of PEPE, increasing the likelihood of a long-term uptrend.
Current Price Trends and Market Outlook
At the time of writing, PEPE is trading at $0.000006319, marking a 6.53% increase in the past 24 hours and a 16% jump from its recent low of $0.000005326. However, despite this surge, PEPE remains below its 200-day Exponential Moving Average (EMA), indicating that a full-fledged bull run is not yet confirmed.
Analysts point to a key support level of $0.0000062—if PEPE holds above this, it could pave the way for a significant rally.
Will PEPE Reach the 215% Surge?
While the market still exhibits short-term bearish tendencies, some indicators suggest that a major breakout could be on the horizon. Crypto analysts highlight that:
- Buying volume is increasing, while selling volume is decreasing, signaling a bullish divergence.
- PEPE could be on track for a 60% move in either direction, with a breakout confirming the next major trend.
- If momentum continues, PEPE could reach $0.000012, a 90% gain from its current price, before targeting the $0.00002 mark, which would represent a 215% increase.
Should You Buy PEPE Now?
Given the whale accumulation and analysts’ long-term optimism, PEPE appears to be a potential buying opportunity. However, caution is necessary, as the market remains volatile. A confirmed breakout with strong trading volume is essential before making investment decisions.
For investors willing to take the risk, tracking Relative Strength Index (RSI) movement and support/resistance levels will be crucial in determining the right entry point.
While short-term volatility is expected, the long-term outlook suggests that PEPE could be gearing up for a significant rally. Will it reach the predicted 215% surge? Only time will tell, but the signs are promising for those keeping a close eye on this meme coin’s journey.