Key Takeaways
- PEPE coin sees huge whale purchases as market sentiment hints at a strong bullish rally.
- Crypto experts suggest the price of PEPE is ready for a rally toward its new all-time highs.
- A breakout for PEPE coin above $0.000017 could signal imminent new highs for the price.
Momentum is quietly building for PEPE coin following a strong price rally from its low of $0.000056, breaking its bearish downtrend to a region of $0.000016 on the daily timeframe as the price of PEPE coin in previous days faced a sharp price decline towards a key liquidity zone of $0.00001 demonstrating strength by PEPE whales to project this region.
Following such price action, the price of PEPE coin rebounded towards a region of $0.000012, with growing signs of whale accumulation above these zones. As the price of PEPE on the daily timeframe looks set for a potential price rally to new all-time highs, following market potential, the price of PEPE is poised to rise.
Whale Accumulation Signals Potential Rally Imminent
Over the past few days, PEPE has seen an increasing volume and dominated the crypto market due to large purchases by whales, as these wallets are back to reaccumulating the famous frog-themed memecoin ahead of a strong rally.
According to Lookonchain analytics, a whale has just purchased 500B PEPE coins worth around $4.36 million, adding to previous purchases made for PEPE, which brings the total to 2 trillion PEPE worth $ 17.42 million.
Such huge purchases are followed by strong bullish price action to the upside, as the price of PEPE currently trades above its key support zone, with market sentiment indicating a strong favor for a potential rally toward its all-time highs.
While the current price action of PEPE has garnered considerable attention, CryptoGodJohn, a well-known trader, believes the PEPE coin exhibits bullish price action, having broken out of its bearish trend, and the price could attempt to retest its previous highs.
Key Market Technical Analysis For PEPE
Source – PEPE Price Chart From TradingView
Following the recent PEPE price chart and prediction for June, crypto experts and whales are closely watching its price action for more confluence, which would confirm a strong upward push. This would provide a better opportunity to open a long position in line with its market structure.
The price of PEPE retesting the key liquidity zone and rebounding from that region suggests a continuation of the bulls’ upside momentum to $0.000017, following a rejection from the previous week as the price traded into this zone.
However, crypto traders and investors will be paying close attention to the price as it develops, with increasing interest from whales. With strong market sentiment suggesting bullish price action for PEPE, a breakout above $0.000017 could signal a continued rally to potential all-time highs.
