Pepe Price Prediction as Mysterious Trader Makes $4.82 Million Profit in 6 Months – Here’s What Happened
The PEPE price has increased by 3.5% today, rising to $0.00001461 as the wider crypto market posts a more modest 0.7% gain in the past 24 hours.
PEPE is basically flat in the past week but up by 4% in a fortnight and by an impressive 78% in a month, with the 23rd biggest coin in the market also sitting on a very pretty 1,300% gain in a year.
These percentages come as one unidentified whale has put themselves in line to make a $4.82 million profit from 365.96 billion PEPE, which they acquired at a cost of $494,000 six months ago.
And while their sale of this amount may dent the PEPE price a little, its status among whales as a profit vehicle will result in it rallying again soon enough.
PEPE’s chart is an interesting position, with the coin looking like it’s ready to make a big move upwards.
This assessment is based largely on two things, with the first being that the coin’s support (green) and resistance (red) levels are veering towards each other, a process that often forces a big move (in either direction).
Secondly, PEPE’s 30-day average (orange) looks as though it’s about to rise above the 200-day (blue), another sign of an incoming breakout.
It’s also arguable that, having spent much of the past week at around 50 or below, the relative strength index (purple) is also late for a climb.
These indicators come as the coin’s 24-hour trading volume remains healthy at around $1 billion, which is around double where it was over a week ago.
This suggests strong ongoing interest in PEPE, although as we noted above, one whale sent 365 billion PEPE to Binance a couple of days ago.
A whale deposited 365.96B $PEPE($5.3M) into #Binance for profit just now!
He withdrew 365.96B $PEPE($494K at the time) from #MEXC on Dec 13 and Dec 16, 2023.
He
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