Pepe Coin Price Prediction As Whales’ Buying Spree Sets $0.00001 Target in Sight

Pepe Coin Price Analysis: For over a week, the Bitcoin price has wavered around the $60000 level accelerating uncertainty among market participants. As a result, the altcoin market lacked the momentum to drive a sustainable recovery with many showing a sideways action. Pepe, the Frog-themed memecoin has been trading since May 4th, resonating between two horizontal levels of $0.00000913 and $0.0000078.

Also Read: Smart Money Flocks To PEPE & These Major Cryptos, A Recovery Ahead?

Key Resistance Breakout Sets 18% Upswing in PEPE Price

The Pepe coin has been rallied to a steady recovery since mid-April as the price rebounded from $0.00000393. The positive upswing surges the coin value by 124% within a month to reach the current trading price of $0.00000881.

In daily charts, this rally offering higher highs and lows formation indicates the buyers are actively accumulating this asset at dips, which is a key sign of the established rally. 

A recent update from Spot On Chain highlighted a significant transaction by the trader known as Oxa14, who strategically withdrew 350.2B PEPE tokens worth $2.92 million from Binance during a market dip. 

10 hours ago, Smart trader 0xa14 withdrew 350.2B $PEPE ($2.92M) from #Binance at the dip!

This trader is really good at swing trading $PEPE, having earned a cumulative est. profit of $2.59M from the token (win rate: 100%)!

Current holding: 660B $PEPE ($5.74M).

Follow… pic.twitter.com/9MTBk1nUxj

— Spot On Chain (@spotonchain) May 11, 2024

This move is part of Oxa14’s successful trading strategy, which has yielded a 100% win rate and an estimated $2.59 million in profits from PEPE trades. Currently, Oxa14 holds 660B PEPE tokens, valued at approximately $5.74 million

This active accumulation and retention suggest that savvy investors anticipate a sustained recovery trend for the PEPE price.

Thus, the coin price is likely to break the overhead resistance of $0.00000913. A successful breakout will provide buyers with the next stepping stone to lead a higher rally potential chase of $0.0000108, followed by $0.000012.

Technical Indicator

• Vortex Indicator: A notable bullish spread when the VI+( blue) slope is above VI- (pink) indicates a recovery trend in active.
• Pivot levels: The traditional pivot levels highlight $0.0000113 and $0.000014 as the key resistance zone.