Pepe Coin Whale Buys 9 Trillion Coins, Signaling Increasing Confidence Toward the Leading Meme Coin

A recent Pepe Coin whale transaction has caught the eyes of investors today, with the PEPE price rising around 1% during writing.

A recent massive transaction involving Pepe Coin (PEPE) has grabbed the attention of investors, especially as the PEPE price rose around 1% during the writing. According to the report, a whale purchased a large quantity of the crypto, indicating increasing confidence in the leading meme coin. This move has sparked speculation on a potential breakout for the crypto, given the growing market interest.

Pepe Coin Whale Buys 9 Trillion Coins

The leading on-chain transaction tracking platform, Whale Alert, reported that an unknown whale moved 9 trillion PEPE from Bybit, one of the top crypto exchanges. The transaction, carried out by the wallet address “0x88a…3Ade3,” was valued at over $64.55 million, indicating robust confidence in the meme coin.

This substantial accumulation has attracted the attention of crypto market enthusiasts, especially as it fueled speculation on a potential price breakout. Furthermore, the bold move by the whale suggests growing optimism in the market, with many seeing it as a sign of renewed investors’ confidence in the leading meme coin's potential.

Meanwhile, with this massive move, market analysts are keeping a close watch on the crypto’s price action. Additionally, a flurry of market watchers are considering this significant whale move as a catalyst for a potential price breakout.

PEPE Price Breakout Ahead?

The sentiment on the leading meme coin appears to have faded lately, especially since May end of this year, when the crypto touched an all-time high of $0.00001718. Moreover, the latest volatile scenario in the broader financial sector as well as in the crypto market also weighed on the meme coin’s performance.

As of writing, the PEPE price was up 0.93% to $0.000007298, with its trading volume soaring 45% to $521.55 million. Over the last 24 hours, the crypto has touched a high of $0.000007512 and a low of $0.000006896, indicating a highly volatile trading scenario. Moreover, CoinGlass data showed that crypto’s Futures Open Interest dropped 6.46% to $81.14 million, indicating a still-bearish sentiment hovering in the market.

However, the latest Pepe Coin price analysis showed that recently a bullish signal flashed on the crypto’s weekly chart, which could trigger a rally of 260% in its price. Moreover, it also showed that the last time the signal was spotted, the leading meme coin had rocketed 1600% in 98 days. Notably, according to the analysis, the meme coin could rally to a new high of $0.00001872 if it breaks a key resistance.

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