A massive whale transaction involving 500 billion Pepe Coin (PEPE) tokens sparked significant interest across the crypto market.

This accumulation, tracked through on-chain data, suggested rising investor confidence, with market analysts predicting a major price surge.

A massive whale transaction has sparked significant interest in the crypto market today, as on-chain data from Lookonchain revealed that a newly created wallet withdrew 500 billion Pepe Coin (PEPE) tokens from Binance.

This action has strengthened bullish sentiment and raised expectations for a potential supply squeeze on centralized exchanges (CEXs).

As one of the most popular meme coins, PEPE has seen its price surge by over 13% in the past week.

The whale’s activity aligns with broader market trends, where investors are increasingly favoring meme coins over major crypto.

Growing confidence in PEPE suggests that it could play a more significant role in the market.

PEPE Outperforms Bitcoin and Meme Coin Rivals

Despite market fluctuations, PEPE has demonstrated exceptional resilience, outperforming major crypto, including Bitcoin.

Over the past week, PEPE has posted double-digit gains, while Bitcoin’s price action has remained relatively stable.

Additionally, other meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), have struggled to match PEPE’s upward momentum.

The surge in PEPE’s value reflects growing investor confidence, reinforced by increased whale activity and a strong technical setup.

This aligns with the meme coin sector, which has witnessed renewed interest, with traders closely monitoring PEPE price movements for potential breakout opportunities.

According to analysts, the coin’s current trajectory indicates the beginning of a sustained uptrend.

At the time of writing, PEPE price was trading at $0.0001 per coin with a trading volume of $443.03 million. The market cap was at $3.01 billion.

This recovery has intensified market speculations on its ability to sustain gains in the next bull run.

Analysts remain to learn how the accumulation will lead to a high value of the stock in the market.

Analysts Predict PEPE Rally to $0.00012

Consequently, Charting Guy, an established crypto trader, has pointed to Fibonacci extension levels towards $0.00012 price levels.

According to his analysis, the given chart is in wave 3 of the Elliott Wave, which traditionally indicates further rising movements.

According to the Fibonacci 2.618 level, PEPE could experience another parabolic move, further fueling bullish sentiment.

The technical analysis of PEPE supports this prediction in the long run since it remains higher than its support levels.

As investors enter the market and whales continue to accumulate more tokens, there is a high likelihood of an upward price surge.

According to analysts, should it adhere to historical trends, it could easily rise to $0.0012.