As a researcher with a background in blockchain and cryptocurrency analysis, I find the recent PEPE transaction detected by Whale Alert both intriguing and significant. The sudden movement of $83 million worth of PEPE from Bybit, the fourth largest crypto trading platform, has coincided with an impressive price increase for this meme coin.
Expert: The well-known blockchain tracker Whale Alert has identified an astonishing crypto transfer involving $83,250,000 worth of PEPE meme coins. This massive transaction originated from the Bybit exchange – the fourth largest cryptocurrency trading platform in terms of volume.
A significant transaction of great size has occurred concurrently with a notable surge in PEPE‘s price within the past day.
Trillions of PEPE leave Bybit, while PEPE price soars
Approximately two hours ago, the mentioned cryptocurrency tracker announced that Bybit had recorded a staggering $90 million worth of PEPE transactions, equating to around 9 trillion dollars.
The PEPE community was buzzing with excitement over the sudden and unexpected transfer of a large amount of PEPE tokens. Some interpreted this as a bullish sign, possibly indicative of a major purchase by an anonymous whale. However, others pointed out that it could simply have been a transfer between two Bybit wallets – from a hot wallet to a cold storage one.
As a crypto investor, I’ve noticed an impressive price jump in PEPE within the last 24 hours. Currently, this popular meme coin is being traded at around $0.00000929.
PEPE forms Double Bottom
As a researcher studying the cryptocurrency market, I’ve observed that PEPE experienced a significant drop in value before Monday. Specifically, it decreased by over 18% between Saturday and Monday. When looking at the broader timeframe from Monday to Friday, PEPE saw a total decrease of 36.44%. This downward trend for PEPE coincided with the substantial decline in Bitcoin‘s price during the same period last week.
From July 5th to 7th, PEPE exhibited a double bottom formation on the graph. Should this pattern prove authentic, PEPE could experience significant growth or potentially initiate an uptrend.
I analyzed a recent report by U.Today on July 2nd where an anonymous entity moved an enormous amount of PEPE tokens, equivalent to 1,286,733,285,955 units from Binance exchange. Initially valued at around $14,745,963, this transfer raised eyebrows due to its significant size. However, upon further investigation, I discovered that it was an internal transaction within the Binance platform itself.
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2024-07-09 14:12