šŸ¤” Why PEPEā€™s whale movements may not help the memecoinā€™s price - AMB Crypto

Irma - Aug 15 - - Dev Community

šŸ‹ Whale's Smart Move
A PEPE whale shook up the market by buying 420 billion tokens worth $3.13 million on August 5th and 12th, strategically timing the market's bottom. Just before press time, the whale sold all holdings, netting $30k in profit in a short period.

šŸ“‰ Bearish Sentiment
PEPE sentiment turned negative, with Coinglassā€™ Long/Short Ratio at 0.9747 on August 14th, showing more shorts than longs. The whaleā€™s quick exit supports this bearish outlook, signaling a potential further dip.

šŸ“Š Surge in Large Transactions
IntoTheBlock data revealed a spike in big PEPE transactions, hitting a 7-day peak of 227 on August 8th. This activity suggests continued volatility ahead, as PEPEā€™s price dropped 2.27%, trading at $0.00000078295.

šŸ”» Bearish Outlook
With selling pressure mounting and the stochastic RSI approaching overbought territory, a further bearish rally seems likely.

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