Against a very turbulent price movement displayed by Pepe coin in the past 24 hours, smart money’s deliberate decision to collect vast amounts of PEPE has spurred a flurry of hopeful ideas on the frog-themed meme token’s price movements ahead. With a weekly price increase of about 20%, Pepecoin has already established a bullish market trend and created the conditions for a flurry of conjecture, including the possibility that it may soon hit the extremely optimistic figure of $0.00001.
Pepe Coin is expected to see significant gains shortly due to several bullish factors. The meme token with a frog theme is incredibly optimistic and could be profitable for investors. A detailed report on these factors can be found here.
PEPE Stockpiles Expand, Infusing Hope
Lookonchain, a blockchain analytics platform, has identified a PEPE smart money allocating 1.26 million USDC to purchase a stunning 142.96 billion PEPE at today’s price of $0.000008831 on May 6. This clever money, which operates under the address 0x2db3fb.., has garnered significant attention with its accumulation due to its trading history showcasing oddball investments and boasting an eye-catching 85.7% win rate, implying that its trading approach is highly successful.
Over the previous six months, the intelligent address traded PEPE seven times, six of which were profitable. Jotting down gains worth $915K with past PEPE accumulations, today’s buying has further sparked an optimistic buzz surrounding the token’s future price movements.
Pepe Coin Smart Money
Meanwhile, multiple reports have highlighted a significant rise in cryptocurrency whales buying Pepe coins as part of their strategic investments. This, together, sets the route for a potential bullish rise for PEPE in the future, demonstrating large-scale and strategic investors’ trust in the asset’s promising prospects.
Will the PEPE Price Rally Go On?
At the time of writing, PEPE is trading for $0.000008565, up 0.82% over the previous day. Its 24-hour lows and highs are $0.000008285 and $0.000008817, respectively, with the token trading in red and green territories throughout the past day.
Coinglass data, however, showed that the token’s open interest increased by 3.19% to $94.28 million, strengthening its bullish position. CoinGape Media’s recent research of PEPE’s price movements highlights the creation of an inverted head and shoulders pattern on the token’s chart, which is a bullish pattern.
This clears the way for PEPE to reach the highly optimistic level of $0.00001 shortly. At the same time, short-term volatility will likely coincide with more general market movements. Besides, it’s also worth emphasizing that a post-BTC halving rally is yet to kick in, with PEPE being one of the potential meme coins mimicking BTC’s price fluctuations.
