{"id":635011,"date":"2024-08-13T08:00:15","date_gmt":"2024-08-13T08:00:15","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=635011"},"modified":"2024-08-12T18:40:23","modified_gmt":"2024-08-12T18:40:23","slug":"buying-the-dip-pepe-price-recovers-10-as-whales-load-their-bags","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/buying-the-dip-pepe-price-recovers-10-as-whales-load-their-bags\/","title":{"rendered":"Buying The Dip: PEPE Price Recovers 10% As Whales Load Their Bags"},"content":{"rendered":"

Crypto whales have taken advantage of the recent market downturns, loading up their bags as the price of several tokens slipped to lower levels. During the last few retraces, a whale bought over 400 billion PEPE, already registering unrealized profits from its purchase. Some market watchers believe the token is poised to lead the \u201cmemeseason\u201d after its recent performance.<\/p>\n

Related Reading: USTC Preps For Explosive 360% Run, Crypto Analyst Reveals When<\/a><\/div>\n

Whale Goes On Buying Spree<\/h2>\n

A week ago, the crypto market<\/a> saw a significant slump, with most cryptocurrency prices nosediving by over 20%. Bitcoin (BTC) saw its price fall from the $59,000 mark to as low as $49,000 last Monday. Meanwhile, Ethereum (ETH), the second-largest cryptocurrency by market cap, retraced 24% after its price dropped below the $2,200 support zone.<\/p>\n

PEPE, one of the leading memecoins, also saw a price decline of over 28%, which fueled a negative sentiment among some crypto investors. After the memecoin recovered over the week, a whale decided to take profit from the frog-themed token.<\/p>\n

On-chain data analysis firm Lookonchain revealed<\/a> that a whale had sold its 795.92 billion PEPE since August 1. The address, which withdrew its holdings from Binance on March 1, sent 400 billion tokens, worth around $4.2 million, back to the crypto exchange.<\/p>\n

The whale saw a return on investment (ROI) of 230%, according to Lookonchain. On Friday, the address deposited its remaining 3945.92 PEPE on Binance, making a total profit of $5.06 million.<\/p>\n

However, not all investors decided to sell, as one address took the opportunity to buy the dip. According to SpotOnChain, a whale named \u201ccookislandstrust.eth\u201d loaded its bags during the August 5 and August 12 retraces<\/a>.<\/p>\n

Per the post<\/a>, the whale purchased 300 billion PEPE a week ago and another 120 billion tokens today. In the last week, the address spent 3.13 million USDT to buy the 420 billion tokens at an average price of $0.000007455.<\/p>\n

At the time of the report, the investor had made over $170,000 (+5.43%) in unrealized profits. Additionally, the same address bought 2,978 ETH, worth around $7.05 million, on August 5, making over half a million in unrealized gains.<\/p>\n

PEPE Recovers 10% From Monday\u2019s Dip<\/h2>\n

In the late hours of Sunday, the token saw its price drop from the $0.000008 level to the $0.0000076 mark, a 12% decline from the day prior. Following the buying spree, PEPE\u2019s price saw a 10% surge from the market shakeout, reclaiming<\/a> the $0.000008 support zone.<\/p>\n

The recovery saw the token retest the $0.0000084 price range before retracing to the $0.0000082 level. This performance represents a 2.1% increase in the last 24 hours and a 36% surge in the weekly timeframe. As of this writing, the third-largest memecoin by market cap is trading at $0.00000823.<\/p>\n

According to the pseudonym crypto trader Trade4ddict, PEPE has been<\/a> \u201cholding well again compared to most alts,\u201d despite today\u2019s dip. To him, the frog-themed memecoin \u201cconfirmed a breakout of 4 days price range\u201d on Friday, which completed the bull setup.<\/p>\n

The trader considers the token is \u201cgaining strength again\u201d after the latest \u201clittle correction.\u201d This suggests to him that the \u201cnext step is a breakout of the descending broadening wedge.\u201d Per the post, a breakout could lead to a run that would retest key resistance levels and propel the price to a new all-time high (ATH).<\/p>\n

Related Reading: Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown?<\/a><\/div>\n

Similarly, another market watcher sees<\/a> PEPE as \u201clooking to lead the memeseason.\u201d The analyst highlighted the token\u2019s strong comeback after \u201cbreaking below the main support level,\u201d suggesting that an uptrend seems favorable.<\/p>\n

\"PEPE,
PEPE’s performance in the three-day chart. Source: PEPEUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto whales have taken advantage of the recent market downturns, loading up their bags as the price of several tokens slipped to lower levels. During the last few retraces, a whale bought over 400 billion PEPE, already registering unrealized profits from its purchase. Some market watchers believe the token is poised to lead the \u201cmemeseason\u201d after its recent performance. Related Reading: USTC Preps For Explosive 360% Run, Crypto Analyst Reveals When Whale Goes On Buying Spree A week ago, the crypto market saw a significant slump, with most cryptocurrency prices nosediving by over 20%. Bitcoin (BTC) saw its price fall from the $59,000 mark to as low as $49,000 last Monday. Meanwhile, Ethereum (ETH), the second-largest cryptocurrency by market cap, retraced 24% after its price dropped below the $2,200 support zone. PEPE, one of the leading memecoins, also saw a price decline of over 28%, which fueled a negative sentiment among some crypto investors. After the memecoin recovered over the week, a whale decided to take profit from the frog-themed token. On-chain data analysis firm Lookonchain revealed that a whale had sold its 795.92 billion PEPE since August 1. The address, which withdrew its holdings from Binance on March 1, sent 400 billion tokens, worth around $4.2 million, back to the crypto exchange. The whale saw a return on investment (ROI) of 230%, according to Lookonchain. On Friday, the address deposited its remaining 3945.92 PEPE on Binance, making a total profit of $5.06 million. However, not all investors decided to sell, as one address took the opportunity to buy the dip. According to SpotOnChain, a whale named \u201ccookislandstrust.eth\u201d loaded its bags during the August 5 and August 12 retraces. Per the post, the whale purchased 300 billion PEPE a week ago and another 120 billion tokens today. In the last week, the address spent 3.13 million USDT to buy the 420 billion tokens at an average price of $0.000007455. At the time of the report, the investor had made over $170,000 (+5.43%) in unrealized profits. Additionally, the same address bought 2,978 ETH, worth around $7.05 million, on August 5, making over half a million in unrealized gains. PEPE Recovers 10% From Monday\u2019s Dip In the late hours of Sunday, the token saw its price drop from the $0.000008 level to the $0.0000076 mark, a 12% decline from the day prior. Following the buying spree, PEPE\u2019s price saw a 10% surge from the market shakeout, reclaiming the $0.000008 support zone. The recovery saw the token retest the $0.0000084 price range before retracing to the $0.0000082 level. This performance represents a 2.1% increase in the last 24 hours and a 36% surge in the weekly timeframe. As of this writing, the third-largest memecoin by market cap is trading at $0.00000823. According to the pseudonym crypto trader Trade4ddict, PEPE has been \u201cholding well again compared to most alts,\u201d despite today\u2019s dip. To him, the frog-themed memecoin \u201cconfirmed a breakout of 4 days price range\u201d on Friday, which completed the bull setup. The trader considers the token is \u201cgaining strength again\u201d after the latest \u201clittle correction.\u201d This suggests to him that the \u201cnext step is a breakout of the descending broadening wedge.\u201d Per the post, a breakout could lead to a run that would retest key resistance levels and propel the price to a new all-time high (ATH). Related Reading: Toncoin Rally Thwarted As TON Slips To $6, Can Bulls Prevent A Bearish Breakdown? Similarly, another market watcher sees PEPE as \u201clooking to lead the memeseason.\u201d The analyst highlighted the token\u2019s strong comeback after \u201cbreaking below the main support level,\u201d suggesting that an uptrend seems favorable. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":608992,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,1119,85262,10923,87521,89756,85279,8323,1946,85699,92884,88145,88629,88188],"class_list":["post-635011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-btc","tag-buy-the-dip","tag-crypto-market","tag-crypto-market-correlation","tag-crypto-trader","tag-crypto-whale","tag-eth","tag-ethereum","tag-memecoin","tag-memeseason","tag-pepe","tag-pepe-whale","tag-pepeusdt"],"acf":[],"yoast_head":"\nPEPE Price Recovers 10% As Whales Load Their Bags<\/title>\n<meta name=\"description\" content=\"PEPE recovered 10% from the Monday retrace after a whale bought the dip, 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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