Pepe Coin Whale Moves $5M to Binance, Signaling Market Correction Preparations

A whale recently increased its staking position by moving 254.65 billion Pepe coin (roughly $5.15 million) to Binance.

A whale recently moved 254.65 billion Pepe coin (roughly $5.15 million) to Binance, generating a $4.81 million profit in 13 hours.

This large deposit and quick profit could indicate preparations for a broader market correction after the coin's substantial price rally.

The whale now holds approximately 430 billion PEPE, valued at $8.13 million with an unrealized profit of $7.74 million, representing a 13x return.

In these volatile markets, the price direction is largely influenced by the actions of large holders, and this level of profit-taking is not uncommon.

With the coin's incredible 100% price appreciation over the past month, the whale's massive pepe coin transfer to an exchange may suggest an intention to sell.

Pepe Coin Technical Analysis (13-min Chart)

Meanwhile, a PEPE/USDT price chart is displayed below the price movements, represented by buying pressure as green candles and selling pressure as red candles.

The coin's price is currently positioned below the 50-SMA, indicating a bearish short-term picture. It is also trading below the 100-SMA, suggesting a bearish outlook that continues in the near and medium terms.

Additionally, the pepe coin price has been trading below the 200-SMA for the duration of the chart, suggesting an extended bearish outlook.

The first of these is seen around the 0.00001990 level, which has seen several attempts by price-makers to break through but has faced strong rejection.

A support level is seen around 0.00001850, where the price has rebounded after showing a downtrend movement.

ADX Showing Bearish Outlook (13-min Chart)

An ADX (Average Directional Index) chart, on the other hand, is plotted at the bottom of the chart. Its value is currently at 30.22, which is marked on the chart as a red line.

ADX values above 25 indicate a strong trend. In this case, a descending trend is bearish, which the ADX supports.

The overall outlook is projecting a bearish picture, with the price magnitude observed to be continuously trading below all moving averages and a high ADX.

Several attempts to break through the resistance level are seen, but no breakout has occurred, indicating a strong bearish force in the pepe coin.

A breakdown from the 0.00001990 resistance level could suggest a reversal, while the price continuing below the 0.00001850 support level could lead to further declines.

Finally, the whale's portfolio extends beyond meme coins. At the moment, the investor's assets include 3.96 million $DOGE (realized profit of $1.5 million (15x)) and 2.5 million $LDO, generating a (realized) loss of $432K (9.5%).

The only highlight is the investor noting $LDO as “the strongest ETH beta thus far,” which shows the investor is approaching high-risk and potentially high-return meme coin investments as well as other altcoins within meme coins, introducing varying risk-return parameters.

Is Now the Time to Sell?

The actions also bring to light another key aspect of crypto investment, which is managing and assessing risk on portfolios.

The whale is seen to be spreading investments across multiple asset classes, utilizing the market movement across segments to cushion losses and ride gains in a highly unpredictable market.

For retail investors observing whale movements such as these, the big question remains: is it time to sell Pepe coin? A sell-off by the biggest holder could bring price adjustments as such a big price rally is in question.

But selling it should not be a decision taken lightly. A truly useful decision-making tool should rely on a complete analysis of market trends, personal investment goals, and of all things risk tolerance levels.