$PEPE Whale Buys 173 Billion Tokens After 20% Dip, Bull Run Incoming? - CoinPedia Analytics

Irma - Aug 29 - - Dev Community

After a 20% drop in the last three days, Pepe (PEPE), the third-largest meme coin, is attracting attention. On August 29, 2024, a notable PEPE whale spent 1.34 million USDC to buy 173 billion tokens, following a profitable trade in 2023-2024. This large purchase has spurred bullish sentiment among investors.

Technical analysis indicates PEPE is bullish, supported by a rising trendline and poised to break previous highs. The RSI shows PEPE is oversold, suggesting a potential price reversal. The coin could rise by 23% to $0.0000099 and may see a significant upside rally if it closes above $0.0000102.

PEPE’s open interest has risen by over 3.5% in the last four hours, signaling growing investor interest. Despite a 27% decline in trading volume, PEPE has gained over 66.5% in the last 24 hours, with trading currently near $0.0000081.

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