- Lookonchain revealed in a tweet yesterday {that a} whale withdrew 2 trillion PEPE from Binance up to now 48 hours.
- The platform shared that the whale additionally withdrew 3.94 trillion PEPE on June 27 and July 5, 2023.
- At press time, PEPE was buying and selling at $0.000001477 after a 24-hour worth decline of 1.28%.
Lookonchain, the on-chain analytics platform, revealed in a tweet yesterday {that a} whale withdrew 2 trillion Pepe (PEPE), price an estimated $3 million, from Binance up to now 48 hours. This isn’t the primary PEPE withdrawal executed by this whale, because the platform shared that it additionally withdrew 3.94 trillion PEPE from Binance on June 27 and July 5, 2023.
As of press time, the value of the meme coin has fallen 1.38% up to now 24 hours in line with CoinMarketCap. Because of this, PEPE modified palms at $0.000001477. The altcoin not solely weakened in opposition to the US greenback, but additionally outperformed the 2 market leaders Bitcoin (BTC) and Ethereum (ETH) over the previous 24 hours.
PEPE was down 0.97% in opposition to BTC and 1.28% in opposition to main altcoin ETH. This meant that 1 PEPE was price roughly 0.000000000049 BTC and 0.000000000787 ETH at press time.
From a technical perspective, PEPE was resting on a key help degree at $0.0000014482. If it closes at present’s each day candle beneath this main worth degree, it’s more likely to fall to the subsequent essential help at $0.0000013586 throughout the subsequent 24-48 hours.
Conversely, a each day shut above the 20-day EMA line at $0.0000015282 could also be an early signal of PEPE difficult the subsequent main resistance degree at $0.0000015977 within the coming days. Continued shopping for strain could lead the coin even to swing this degree into help and doubtlessly take a look at the resistance at $0.0000017084 as nicely.
It ought to be famous that the 20-day EMA line was trying to cross beneath the longer 50-day EMA line. If these two technical indicators cross, will probably be a major bearish technical flag indicating that the medium-term momentum is in favor of the bears.
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