During the recent dip in the crypto market, heavyweight crypto investors or ‘whales’ swooped in and snapped up substantial amounts of the Internet-famous cryptocurrency Pepe (PEPE), totaling a staggering $5.56 million. One such big player, addressed as 0xa14, even pulled out 350.2 billion PEPE, equating to $2.93 million from the popular crypto exchange, Binance.
Analyzing the whale’s patterns since mid-March, this investor has withdrawn 1.449 trillion PEPE from Binance at an average price of $0.000007496. His total spending sums up to an estimated $10.86 million. The whale’s ongoing deposits back into Binance account for 789.26 billion PEPE, purchased at the average rate of $0.000008542, totalling $6.74 million. This investor now possesses around 660 billion PEPE, valued approximately at $5.74 million.
Despite the market taking a hit, characterized by Bitcoin’s nearly 5% loss from $63,400 to $60,180 last Friday, PEPE managed to hold its ground. Not only did it show remarkable resilience, but it also made a swift recovery. PEPE’s comeback was further solidified on May 3 when it reversed from a bearish chart pattern, frequent amongst analysts, known as an inverse head and shoulders chart pattern.
Market experts anticipate, based on current chart indicators, PEPE may possibly rocket up to $0.00001330, signaling a whopping 51% rise from its existing market price. So, it seems like, despite the stormy weather, PEPE is sailing smoothly.