In a recent tweet by Lookonchain, it has been revealed that prominent Whales and Smart Money investors are actively selling off their holdings of PEPE. The tweet caught the attention of cryptocurrency enthusiasts, shedding light on significant transactions that took place in the past few hours.
Approximately one hour ago, a noteworthy whale deposited a staggering amount of 649 billion PEPE tokens, equivalent to $761,000 in value. However, this investor’s intentions remain unclear, leaving the community speculating on the motive behind such a significant deposit.
On the other hand, another investor with the address 0x4614 successfully generated a substantial profit of 1,182 $ETH, approximately $2.2 million, through their involvement with PEPE.
This trader made the decision to sell off 375.8 billion PEPE tokens, equivalent to $306,000, resulting in a loss of 76 $ETH, around $142,000. This transaction occurred just one hour ago, leaving traders curious about the factors influencing this apparent loss.
In a separate event, the address 0x6544 managed to achieve a notable profit of $352,000 by trading PEPE. Nonetheless, recent records indicate that this investor sold off 257.9 billion PEPE tokens, equivalent to $306,000, which ultimately resulted in a loss of $35,000.
Nevertheless, it remains to be seen how the market will react to these events and whether the overall sentiment toward the token will recover.
PEPE Price Analysis
According to the latest data from CoinMarketcap, PEPE is currently trading at $0.000001118, showcasing a modest downside ride of approximately 11.16% within the past 24 hours. The weekly chart displays a noteworthy decline of 22.35%, signifying a touch of market volatility.
Drawing attention to PEPE’s trading volume, it has observed a notable increase of 72.05% to a staggering $121,489,071. The market capitalization has also experienced a slight decrease of 10.92%.
Based on technical analysis, the token is currently displaying a bullish trend in the long term. This analysis indicates that the price of the token is likely to experience an upward movement. It is predicted that over the next 7 days, the token’s price will increase by approximately $0.00000005, reaching $0.00000117 by 12th June 2023.
In the short term, a machine learning algorithm has detected a bearish trend for Pepe. It suggests that the price of the token is currently experiencing a downward movement. Investors should anticipate a slight decrease in the token’s price over the next few hours.
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