Get ready for another potential PEPE price surge! This week, the meme coin witnessed a historic rise, and as June approaches, investors are brimming with optimism, fueling speculation for another record-breaking jump.
Whales Accumulate, Signaling Bullish Outlook
PEPE’s price appears to be riding a wave of investor confidence. After a period of selling, large wallet holders, often referred to as “whales,” have begun aggressively accumulating the meme coin. This shift in behavior is particularly noteworthy, as non-exchange top addresses have amassed a staggering 2 trillion PEPE in just a week, representing over $25 million. This significant accumulation coincides with a recent price rise, suggesting that these whales may be influencing the price action.
Profitable Horizon Beckons, Keeping Investors Bullish
Adding to the bullish sentiment, a staggering 30 trillion PEPE is on the cusp of turning profitable. According to the Global In/Out of the Money (GIOM) indicator, this massive amount of PEPE was purchased between $0.00001300 and $0.00001800. However, to make this entire $377 million worth of supply profitable, PEPE would need to establish a new all-time high (ATH), surpassing its current record of $0.00001725. This feat hinges on sustained investor optimism, propelling the price upwards.
PEPE Price Prediction: A Crucial Level to Watch
After a multi-day decline, PEPE price, currently trading at $0.00001525, successfully bounced back from the support level of $0.00001369. This positive development follows the meme coin’s recent ATH, and it now appears to be shifting gears towards a potential new high.
For PEPE to achieve this feat, it must decisively break above $0.00001725 and transform it into a reliable support floor. Failure to do so could dash hopes for a new ATH, forcing PEPE’s price back down to $0.00001369. If this crucial support level crumbles, the bullish thesis could be entirely invalidated, potentially sending the meme coin plummeting to $0.00001200.
With both whales and investors seemingly bullish on PEPE’s future, the coming days and weeks will be crucial in determining whether the meme coin can reach for a new price peak.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
