PEPE Coin Makes Minor Gains With 3.5% Spike – Sign Of Recovery?
August 10 2023 - 10:05AM
NEWSBTC
PEPE has emerged as a symbol of resilience in the face of
uncertainty in the broader meme coin market. A timely intervention
by a deep-pocketed investor, an anonymous whale, has breathed new
life into the frog-themed token, giving it a shot in the arm.
In the unpredictable flow of the crypto space, the influence of
well-to-do cryptocurrency whales has come into focus. These
influential investors hold the power to sway market dynamics, often
leaving smaller traders in their wake. The recent resurgence of
PEPE is a striking illustration of the impact these whales can
exert. Related Reading: Cardano False Breakdown: Could It Set
The Stage For A 26% Climb? According to Lookonchain’s data, a
substantial investment of 1 million USDC secured a staggering 807
billion PEPE tokens, all acquired at an ostensibly modest price of
$0.000001239 per token. This calculated move was spurred by a
noticeable surge in PEPE’s market valuation. A whale spent 1M $USDC
to buy 807B $PEPE at $0.000001239 7 hrs ago after the price of
$PEPE increased.https://t.co/P03KsDrzFi pic.twitter.com/0hjW6ewDjp
— Lookonchain (@lookonchain) August 9, 2023 Whales: Catalysts Of
PEPE’s Reawakening Notably, such substantial investments serve not
only as a financial injection but also as a confidence boost within
the PEPE community. The actions of this anonymous whale have
ignited a renewed sense of hope, accentuating the noteworthy role
that these influential figures play in steering the course of the
cryptocurrency landscape. As PEPE tries to go up, there’s an
important point coming up: the 50-day moving average resistance.
This point is really important because it shows how strong PEPE is
and where it might go next. If PEPE can go past this point, it
could start climbing even more, bringing lots of positivity and
interest to PEPE. PEPE sees a slight increase in price. Chart at
TradingView.com CoinGecko data currently places PEPE’s price at
$0.00000124, down 1.5% in the last day, but managed to sustain a
weekly gain of 2.3%. These measured yet consistent advances
underscore the inherent resilience that PEPE continues to exhibit,
even in the face of broader market fluctuations. Source: Coingecko
PEPE & Community Engagement’s Impact Lunarcrush’s data cited in
a recent price analysis demonstrates a 1.9% increase in social
interactions and an impressive surge of 28.25% in social mentions.
This surge in online discussions underscores the vital role that
community engagement plays in shaping the trajectory of meme coins
like PEPE. Further enhancing the narrative, weighted sentiment, a
pivotal marker of market sentiment, has recently experienced an
upward swing. This shift indicates a heightened degree of
positivity surrounding PEPE in online dialogues. Such shifts in
sentiment often foreshadow broader market movements, potentially
setting the stage for a notable resurgence of the token. Related
Reading: Shiba Inu Investors Jubilate As Meme Coin Jumps 18% Ahead
Of Shibarium Debut With the noteworthy juncture of the moving
average resistance level ahead, and the amplifying impact of
community interactions and sentiment shifts, all eyes are on PEPE
as it navigates its path forward. (This site’s content should not
be construed as investment advice. Investing involves risk. When
you invest, your capital is subject to risk). Featured image from
The New York Times
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