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Optimistic Whales Bet on 25% PEPE's Price Increase

Bearish market grips Pepe, but whales see a 25% rally potential. Key levels in focus

3 min 24 days ago

Highlights:

•

Pepe tests key Fibonacci support at $0.00001670 amid bearish market pressure.

•

Whales invest millions, signaling confidence in a potential 25% price recovery.

•

Declining network activity raises concerns, but bullish divergences hint at reversal opportunities.

Optimistic Whales Bet on 25% PEPE's Price Increase

Pepe Coin continues to tumble, losing 4.21% in the last 24 hours. The 7-day decline now stands at 18.15%. Despite this, large investors, or whales, are doubling down on the meme coin. These bold moves suggest they are betting on a potential 25% price recovery. But will this gamble pay off, or will the bearish trend overwhelm their optimism?

 

Key Support Zone Under Pressure

 

 

The 4-hour chart shows Pepe hovering near the 23.60% Fibonacci level at $0.00001670. Repeated rejections at the 38.20% Fibonacci level and resistance from the 20-EMA line have pushed prices lower. This price action signals a potential bearish breakdown.

 

However, a bullish divergence in the RSI line hints at a double-bottom pattern forming. A breakout above the 38.20% Fibonacci level could push prices toward $0.00002120. This move would offer a 25% gain.

 

Whales Fuel Hope for Recovery

 

Despite falling prices, whales continue to show strong confidence. Over the past day, whale 0x8f5 withdrew 280 billion Pepe tokens from Binance, worth $5 million. Another whale, 0xb1a, purchased 200.4 billion tokens. These investments highlight their belief in Pepe’s recovery potential.

 

Meanwhile, network activity tells a different story. Large transactions have dropped 95.52% since November, with a further 83.09% decline since January. This falling activity reflects growing bearish sentiment. 

 

Pepe sits at a pivotal moment. A breakout could validate the whales’ optimism and lead to a recovery. But failure to hold key support levels risks further losses. The coming days will likely determine whether this bold bet pays off or fizzles out.

 

 

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