Whale PEPE Coin Withdraws 500 Billion Tokens, Pepe Price Predicted to Rise

Bittime - PEPE Coin whale reportedly withdrew 500 billion tokens from Binance, worth more than $4.3 million (Rp. 66.65 billion), sparking speculation of a potential price increase. Will Pepe's price rise? Check out the review here.

This strategic move by whales indicates massive accumulation, which is often a bullish signal for the market. Continue following this article to find out the review.

Whale PEPE Takes 500 Billion Tokens, Bullish Signal?

Source: Lookonchain

On-chain data from Lookonchain shows that the whale created a new wallet specifically for this transaction, indicating that this accumulation was strategic. 

This step was taken amidst volatility in the price of Pepe coin which had risen 14% in the last week, although in the last 24 hours it experienced a 6% correction to the level of $0.0000085 (Rp. 0.132).

Read also: PEPE Coin Price Potential to Increase 50%? This is the Analysis!

Analyst Predicts PEPE Coin Price Surge

Source: X (@JakeGagain)

crypto analyst, Jake Gagain shared his views on the X platform, claiming that the recent PEPE price weakness was just a small correction before a major bullish move. According to him, PEPE's lowest price level has been passed, and now this token is preparing for a parabolic rally.

Meanwhile, technical analyst Charting Guy observes that PEPE is heading towards the 2.618 Fibonacci extension level, which could push the price to $0.00012 (Rp. 1.86). If this prediction proves correct, the price of pepe coin could soar up to 1,400% from the current level.

Pepe Technical Indicators

Looking at PEPE's daily chart, the price is currently moving near the upper Bollinger Band, which indicates buying pressure is increasing. If the price manages to break this level, we could see a bullish breakout in the near future.

However, if the price fails to break through this resistance, a correction to the intermediate support level is likely. Meanwhile, the Relative Strength Index (RSI) is at 56.78, indicating that room for increase is still open. 

However, a sudden spike in the RSI could trigger profit-taking by traders, potentially slowing down the rally.

Read also: PEPE Coin Price Prediction 2025 – 2031: Analysis and Price Target

Meme Coin Market Squirms Thanks to GameStop

Not only PEPE, the meme coin market as a whole has also experienced a significant increase in the last few weeks. The sector's total market capitalization increased by $12 billion (Rp. 186 trillion), reaching $55.44 billion (Rp. 859 trillion). 

The rise was largely driven by GameStop's announcement that it was purchasing Bitcoin, which sparked a new wave of interest in the meme coin.

This event is reminiscent of the GameStop short squeeze phenomenon in 2021, when GME shares surged more than 1,000% in a month thanks to a boost from the Reddit community. 

Now, history appears to be repeating itself in the crypto world, with various GameStop-themed tokens seeing a spike in value following the news.

FAQ

1. What is PEPE Coin?

PEPE Coin is a blockchain-based meme coin inspired by the iconic meme character "Pepe the Frog." This token is gaining huge popularity in the crypto ecosystem.

2. What is meant by a whale in crypto?

Whales are individuals or entities who own large amounts of a crypto asset and can influence market prices with their transactions.

3. How to know the movement of whales in the crypto market?

Whale movements can be monitored via on-chain data on platforms such as Lookonchain or Etherscan, which record large transactions on the blockchain.

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Reference 

Coinspeaker, PEPE Whale Moves 500B Tokens: Meme Coin Rally Incoming?, accessed March 28, 2025.

Author: Y