Usman Salis
Here's what's got traders buzzing about PEPE right now. Big money holders just went on a massive shopping spree, scooping up tokens while everyone else seems to be sleeping on this opportunity. With Ethereum hitting fresh highs and some seriously bullish chart patterns forming, PEPE might be gearing up for its next major move.
PEPE Whales Go on Massive Buying Spree
The numbers don't lie – whales now hold a staggering 9.02 trillion PEPE coins, marking a solid 10% jump in just 30 days. That's not pocket change, and it tells us that the smart money is betting big on this meme coin's future.
What makes this even more interesting? Exchange balances are absolutely tanking. When whales pull their coins off exchanges, it usually means they're not planning to sell anytime soon. Less supply available for trading typically equals higher prices – basic economics at work.
PEPE Charts Show Classic Breakout Setup
Looking at the daily chart, PEPE has done something pretty significant – it's climbed above both its 50-day and 100-day moving averages. For those who don't speak chart, that's trader talk for "things are getting interesting."
But here's the real kicker: PEPE has formed what's called an ascending triangle pattern. This technical formation has a pretty solid track record of leading to explosive moves higher. Think of it like a coiled spring – the longer it builds up pressure, the bigger the eventual pop.
ETH Rally Creates Perfect Storm for PEPE
Ethereum just smashed through $4,000, and that's creating a perfect environment for ERC-20 meme coins like PEPE to shine. There's a pretty clear pattern here – when ETH goes up, meme coins on its blockchain tend to follow suit.
The magic number everyone's watching is $0.000014. If PEPE can break above that resistance level, we could see some serious fireworks. With whales loading up, exchange supply drying up, and the charts looking bullish, PEPE seems primed for action.
Usman Salis
