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A massive whale transaction involving 500 billion Pepe Coin (PEPE) tokens sparked significant interest across the crypto market.
The accumulation, tracked through on-chain data, suggested rising investor confidence, with market analysts predicting a major price surge.
Amid growing momentum, PEPE’s performance has outshined both Bitcoin and competing meme coins, fueling speculation about a parabolic rally.
Pepe Coin Whale Withdraws 500B Tokens from Binance
According to Lookonchain, a crypto analytics platform, a newly created wallet recently withdrew 500 billion PEPE tokens from Binance.
The substantial accumulation has strengthened bullish sentiment, reinforcing expectations of a supply squeeze on centralized exchanges (CEXs).
Typically, large withdrawals signal long-term holding intentions, reducing circulating supply and increasing demand.
Market participants have responded positively, viewing this whale activity as a precursor to an upcoming price breakout.
Historically, whale movements have played a crucial role in driving meme coin rallies, as seen in previous cycles.
This accumulation aligns with PEPE’s recent price trajectory, which has already surged over 13% in the past week.
The whale’s accumulation comes amid broader bullish market trends, where investors increasingly favor meme coins.
The growing confidence in PEPE highlights its increasing market relevance, with traders closely monitoring further whale movements for potential price impacts.
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.
The meme coin sector has witnessed renewed interest, with traders closely monitoring PEPE price movements for potential breakout opportunities.
Analysts suggest that the coin’s current trajectory indicates the beginning of a sustained uptrend.
At the time of writing, PEPE price was trading at $0.000007 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 $0.00012.
