This article is also available in Spanish.
On December 14, 2024, the Sleeping Whale Wallet made waves in the cryptocurrency market by transferring $2.1 trillion. baby Tokens worth more than $52 million. This major transfer, which occurred after 600 days of inactivity, has sparked excitement and speculation about a possible increase in the price of the popular meme coin.
Related reading
Analysts are carefully tracking PEPE’s movements, anticipating a potential rebound that could lift its value to $0.00005 or higher.
Pisces activity indicates a potential increase
The current behavior of whales is notable in the cryptocurrency market because huge transfers can reflect confidence in the asset or predict future price fluctuations.
Historically, similar fluctuations have been preceded by significant price increases. The whale that executed this transfer originally purchased the tokens for 0.0135 ETH (about $27), resulting in an impressive return on investment of about 1.9 million percent.
A $baby A whale that was inactive for 600 days moved all 2.1T $baby($52 million) to a new address.
This whale initially spent only 0.0135 $ Ethereum($27) to purchase the 2.1T $baby And keep it up to date.
From $27 to $52 million — an extraordinary return of up to 1,900,000x!https://t.co/Et442zxUGk pic.twitter.com/35sp0Iu46E
– Loconchain (@loconchain) December 14, 2024
Experts predict that if PEPE can break through the immediate resistance level of $0.00002810, it will quickly rise to $0.000036.
Technical numbers support the positive atmosphere. Currently at $0.00002442, the 10-day moving average is showing short-term resistance; The 50-day moving average indicates significant support.
Furthermore, the Relative Strength Index (RSI) reached 54.4, indicating neutral momentum with potential for further development. The MACD indicator is also showing some positive activity, supporting the idea that a price increase is very close.
Health crypto market
The cryptocurrency market as a whole is improving, and this rise in whale activity is happening at the same time. This is especially true as Ethereum (ETH) is approaching $4,000.
In the past, other cryptocurrencies, even cryptocurrencies like PEPE, have grown alongside ETH. Analysts are drawing comparisons to what happened earlier this year, when similar whale movements occurred before the price of PEPE rose.
The price of PEPE is set to rise significantly
Analysts believe that if PEPE maintains its pace and breaks important resistance levels, it could reach values of up to $0.000058, or perhaps $0.0001 in favorable market conditions. However, achieving these lofty goals will require continued attention from investors and larger market trends.
Related reading
Although baby Possibility of increase It is of interest to investors that, before making any financial decision, they should be careful and conduct a thorough study.
Anyone who wants to get involved in this volatile industry must be aware of the market dynamics and trends since the cryptocurrency ecosystem is changing rapidly.
Featured image from DALL-E, chart from TradingView
Comments are closed, but trackbacks and pingbacks are open.