Dormant PEPE Whale Awakens, Moves 2.1 Trillion Tokens Worth $52 Million
Dormant PEPE Whale Awakens, Moves 2.1 Trillion Tokens Worth $52 Million On December 14, 2024, a dormant whale wallet made ripples in the cryptocurrency market by transferring 2.1 trillion PEPE tokens worth over $52 million. This large transfer, which occurred after 600 days of inactivity, has spurred excitement and speculation about a possible price increase for the popular meme coin. Analysts are keenly tracking PEPE’s moves, anticipating a probable rebound that might take its value to $0.00005 or higher. Whale Activity Indicates Potential Surge The current whale behavior is notable in the cryptocurrency market because massive transfers can reflect trust in an asset or predict future price swings. Historically, similar fluctuations have preceded large price hikes. The whale that executed this transfer originally purchased the tokens for 0.0135 ETH (about $27), resulting in an amazing return on investment of roughly 1.9 million percent. A $PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE($52M) to a new address. This whale initially only spent 0.0135 $ETH($27) to buy 2.1T $PEPE and has held it until now. From $27 to $52M—an extraordinary 1,900,000x return!https://t.co/Et442zxUGk pic.twitter.com/35sp0Iu46E — Lookonchain (@lookonchain) December 14, 2024 Experts predict that if PEPE can break through the immediate resistance level of $0.00002810, it will rapidly ascend to $0.000036. Technical figures support the positive vibe. Currently at $0.00002442, the 10-Day Moving Average shows short-term resistance; the 50-Day Moving Average indicates major support. Moreover, the Relative Strength Index (RSI) comes out to be 54.4, suggesting neutral momentum with possibility for more development. The MACD also shows some positive activity, which supports the idea that a price increase is just around the bend. PEPE market cap currently at $9.14 billion. Chart: TradingViewHealthy Crypto Market The cryptocurrency market as a whole is getting better, and this rise in whale activity is happening at the same time. This is especially true as Ethereum (ETH) gets closer to $4,000. In the past, other cryptocurrencies, even meme coins like PEPE, have grown along with ETH. Analysts are making comparisons to earlier this year, when similar whale moves happened before PEPE’s price went up. PEPE price up in the last month. Source: CoingeckoPEPE Price Set For Big Upside Analysts believe that if PEPE maintains its pace and breaks important resistance levels, it might reach values as high as $0.000058, or possibly $0.0001 in favorable market conditions. However, meeting such lofty goals will need ongoing investor interest and larger market trends. Although PEPE’s potential for increase excites investors, before making any financial decisions, they should be careful and do thorough study. Anyone who wants to engage in this volatile industry has to be abreast on market dynamics and trends since the ecosystem of cryptocurrencies changes fast. Featured image from DALL-E, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.