Bears have dominated the cryptocurrency market since the past week, and Bitcoin remained stuck below the key $95K . Meanwhile, blockchain developments reveal promising trends for selected projects. Blockchain data shows crypto whales are scooping PEPE tokens, with substantial withdrawals and purchases seen over the past 24 hours. Whale activities are strategic during bearish prices as they signal a dip-buying strategy, with players capitalising on discounted prices. Large-scale investors often buy assets with robust potential as they have early access to market-moving news. Whales on PEPE buying spree Spot On Chain highlighted two whales moving PEPE assets. Spot On Chain @spotonchain · Follow Whales are accumulating $PEPE !1/ New whale “0x8f5” withdrew 280B $PEPE ($5M) from #Binance 4 hours ago. Additionally, the whale accumulated 47.4M $JASMY ($1.54M) a day ago.2/ Whale “0xb1a” spent 3.72M $USDC to buy 200.4B $PEPE ~30 mins ago. However, this whale used to lose… 7:17 am · 13 Jan 2025 92 Reply Copy link Read 3 replies A new large-scale investor withdrew 280 billion PEPE, worth approximately $5 million, from Binance early today. Further details show the trader acquired JASMY tokens worth $1.54 million (47.4 million tokens) yesterday, Sunday. Meanwhile, another whale used a different approach. While “0x8f5” spent around $5 million to purchase PEPE directly from Binance, whale “0xb1a” swapped 3.72 million USD Coin for Pepe Coin. Investors are actively purchasing the altcoin after the latest price dip. That signals their trust in PEPE’s rebound, and the trends have sparked speculations about the meme token’s potential bounce-back. PEPE’s current price action The frog-themed token traded at $0.0000169 after losing nearly 20% of its value within the past seven days. Chart by Coinmarketcap PEPE plunged by 4.90% in the previous 24 hours, and the increased selling pressure suggests more pain. The altcoin’s price doesn’t reflect the optimism from large-scale investors as it mirrors the prevailing broad market bearishness. Nevertheless, Coinglass data showcases some hope. PEPE’s open interest has increased by 2.35% to surpass 452.42 million. That indicates improved strength and sentiment behind Pepe Coin’s price movements. Nonetheless, the prevailing sentiments show a bearish edge, with volatility of above 10% and slumping fear and greed index. PEPE price prediction Broad market sentiments remain crucial for PEPE’s trajectory. Cryptocurrencies display bearishness as Bitcoin bulls fail to hold above $100K. However, bullish prospects emerge ahead of the US presidential inauguration. The markets await the first-of-a-kind pro-crypto leadership under Donald Trump. Popular analyst Ali Chart highlights significant bounce-backs for Pepe Coin. Ali @ali_charts · Follow $PEPE is ready for a massive rebound! Watch on Twitter View replies 3:35 am · 12 Jan 2025 264 Reply Copy link Read 25 replies He pointed out that the altcoin lost 24% after printing a TD sequential sell signal on its 12H chart on January 4. However, the prevailing outlook depicts a shift in trajectory. The indicator has displayed a buy signal, suggesting imminent bounce-backs for the altcoin. These trends could see PEPE gaining over 8% from its current value to trade at $0.00001850. Extended recoveries would propel the meme token to $0.0000190. Broad-based rallies at this level will likely catalyze robust uptrends to historic peaks. The ongoing whale interest supports the anticipated PEPE recovery. The post PEPE price forecast: whales accumulate over 480B tokens after recent dips appeared first on Invezz
