PEPE Whale Earns 31x Profit—What’s Next for the Token’s Price?

Whale’s 31x return on PEPE signals significant market interest and potential growth.
PEPE’s current price recovery suggests a volatile but upward market trend.
2024 price predictions show PEPE could reach up to $0.0000457, with strong growth.

A Pepe Coin (PEPE) whale just deposited 356.2 billion PEPE tokens—worth $7.3 million—to Kraken. This whale was able to make a 31x return on their initial investment.

Spotonchain data shows that on September 20, 2023, the same whale withdrew 375.65 billion PEPE tokens from Gemini. Back then, these were valued at only $237,000. Now, the whale is selling tokens on platforms like Kraken and decentralized exchanges (DEX). The total cash-out is $7.54 million.

A whale just deposited 356.2B $PEPE ($7.3M) to #Kraken, securing a massive $7.3M profit (31x return)!

On Sep 20, 2023, this whale withdrew 375.65B $PEPE from #Gemini for just $237K.

By Feb 17, 2024, the whale began offloading via DEX and Kraken, allegedly cashing out $7.54M in… pic.twitter.com/Rs017Hy65t

— Spot On Chain (@spotonchain) December 3, 2024

PEPE Price and Market Activity

The current price of PEPE stands at $0.000002098, reflecting a modest 0.39% increase over the past 24 hours. The market cap is $8.82 billion, but the 24-hour trading volume is down 26.05% from the previous day, at $3.55 billion.

This shows strong market interest, but trading activity is slowing slightly. PEPE has been volatile, with peaks and troughs throughout the day. Despite earlier declines, the price is going up, toward the $0.000002098 level.

Key Price Levels and Price Prediction for 2024

In terms of support and resistance levels, PEPE is testing critical zones that could determine its next moves. The immediate resistance level is $0.000002100. If PEPE goes above this level with high volume, the price could go towards $0.000002150. But if the price drops below $0.000002050, it might go towards deeper support levels at $0.000001950.

Should the price break through the resistance with significant volume, it may signal a bullish rally. However, if the price fails to hold above $0.000002050, a bearish trend could re-emerge.

Looking ahead to 2024, Changelly’s blog data suggests that PEPE could experience notable price movements. The minimum price could reach $0.0000208, while the maximum could climb to $0.0000457. The average trading price is expected to hover around $0.0000706.

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