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PEPE Whales Buy 689 Billion Tokens! Are They Waiting for a Reversal?
In a recent development, three whale wallets have been spotted buying a massive 689.79 billion PEPE tokens for $4.3 million, funded through TornadoCash, a protocol for privacy. The purchase made by wallet addresses 0x7A7D, 0x9212, and 0x7779 is substantial enough to raise questions about their intentions.
The whales have shown immense confidence in the potential of PEPE to rebound. This enormous buying pressure is likely to drive prices upwards, as it reduces supply and firms up sentiment. As a result, this buying activity may attract more investors, fueling further price growth in the short term.
A closer look at the price action reveals that the TD Sequential indicator has triggered a buy signal on the daily chart, indicating a potential reversal. The recent price action saw PEPE’s price close $0.00000597, representing a significant 4.74% increase. Furthermore, the $0.00000525 low is a sign of exhaustion in the current downward trend.
The chart also shows that if bulls enter the market, the memecoin could potentially jump to $0.00000620, with a breakout pending at $0.00000640-$0.00000660. However, failure to push through these levels may result in consolidation within a range of $0.00000540-$0.00000580.
A breakdown below the $0.00000525 level will invalidate this buy signal and trigger further selling towards $0.00000495.
It is crucial to consider volume and momentum indicators, which could signal traders that this setup has significant potential. Unfortunately, large PEPE trades have been trending relatively flat since February 2025, with prices oscillating in a narrow range of 400-600 transactions before dropping to as low as 278 on March 11th.
Despite the recent low activity levels at 304 trades, it is possible that this buying activity could drive PEPE above $0.0000060. On the other hand, if transaction numbers continue to decline and fall below 200, it may limit price action to around $0.0000068 or lower, triggering a bearish demand signal.
In conclusion, while this sudden increase in whale activity is intriguing, it remains susceptible to new interest from larger holders.
Source: https://ambcrypto.com/pepe-whales-buy-689-billion-tokens-are-they-waiting-for-a-reversal/
