1 Trillion PEPE Shifted to Binance: What This Means for Pepe Coin

Simon Chandler

Last updated:

June 26, 2024 at 18:03 GMT+3

| 3 min read

The Pepe Coin price has risen by 4% today, reaching $0.00001247 as the wider crypto market barely moves in the past 24 hours.

PEPE is now up by 7% in the past week, but down by 5% in a fortnight and by 25% in the last 30 days.

Despite these losses, the popular Ethereum-based meme coin has maintained a very impressive 700% gain in the past year.

And even if a whale has transferred 1 trillion PEPE to Binance in the past few hours, it still looks good for the coming weeks and months.

1 Trillion PEPE Shifted to Binance: What This Means for Pepe Coin Price Prediction.

PEPE looks as though it may come down a little in the near term, with the coin actually losing 1.5% in the past hour.

Its indicators also suggest that it should be sinking a little before rallying again, with its relative strength index (purple) falling from nearly 80 last night to 50 today.

Having said that, PEPE’s 30-day average (orange) climbed over the 200-day only a day ago, implying that it has just entered a growth phase.

One encouraging feature is PEPE’s 24-hour trading volume, which has just topped $1 billion today, up from $350 million a few days ago.

Yet some of this volume may come from selling, with a whale sending just over 1 trillion PEPE to Binance earlier this morning.

This comes in addition to yesterday’s transfer of 700 billion PEPE ($7.8 million) to the very same exchange, adding to the strong suspicion that whales have currently entered sell mode as far as the meme token is concerned.

For this reason, the next day or so may bring negative price action, but the overall medium- and long-term trajectory does seem to be upwards for PEPE.

This is particularly for market-based reasons, with traders gearing up for the launch of the first Ethereum ETFs in the next few weeks.

The fall will also bring the arrival of rate cuts, with the Fed and the Bank of England likely to stoke demand by cutting their respective interest rates.

And with PEPE remaining a much-loved vehicle for profits among whales, the Pepe Coin price could easily reach new highs later in the year.

It may breach $0.00002 by the New Year.

Diversification with High-Potential Meme Tokens.

PEPE still looks in good shape to enjoy some big rallies throughout the rest of the year, although it...

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