PEPE Whale Moves 500B Tokens: Meme Coin Rally Incoming?

3d ago•

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Coinspeaker
PEPE Whale Moves 500B Tokens: Meme Coin Rally Incoming?

A crypto whale recently withdrew 500 billion PEPE tokens, worth over $4.3 million, from Binance. On-chain data from Lookonchain revealed that the whale created a new wallet specifically for this transaction, hinting at strategic accumulation rather than casual trading.

The transaction comes as PEPE experiences volatile movements. Despite a 14% increase over the past week, the frog-themed meme coin has dipped by 6% in the past 24 hours, trading around $0.0000085 at the time of writing.

A newly created wallet just withdrew 500B $PEPE($4.3M) from #Binance.https://t.co/1FKuNmFEdB pic.twitter.com/kL2Wj6M88j
— Lookonchain (@lookonchain) March 27, 2025

Popular crypto analyst Jake Gagain shared on X that PEPE’s bottom is now over, calling its recent market slump a temporary blip. According to Gagain, the coin’s resilience following its five-month low hints at a potential parabolic run ahead.

$PEPE Will Outperform Every Memecoin In 2025. pic.twitter.com/ZZqbXng8tb
— JAKE (@JakeGagain) March 26, 2025

Meanwhile, technical analyst Charting Guy suggested that PEPE is eyeing the 2.618 Fibonacci extension, which could push the token toward the $0.00012 mark. If realized, this would represent a 1,400% gain from its current price level.

dare i say $PEPE can still go to the 2.618?
🐸🐸🐸🐸🐸🐸🐸🐸🐸🐸🐸🐸🐸 https://t.co/5Lm8GsWNFk pic.twitter.com/t74A780F0y
— Charting Guy (@ChartingGuy) March 26, 2025

PEPE Price Outlook

On PEPE’s daily price chart, the price is hovering near the upper Bollinger Band, indicating mounting buying pressure. If PEPE breaks above this range, it could trigger a bullish breakout.

However, a rejection at this level might lead to a short-term correction toward the middle band support.

Meanwhile, the RSI currently sits at 56.78, suggesting that PEPE still has room for further upside. However, if the RSI sees a sudden spike, traders might anticipate temporary profit-taking, potentially slowing the rally.

Meme Coin Market Booms on GameStop’s Bitcoin Bet

The broader meme coin market is also on the rise, adding $12 billion to its total market cap over the past two weeks. As per the data by CoinMarketCap, the total market cap of the sector currently sits at $55.44 billion. This increase followed the sector’s fallout due to the LIBRA scandal.

Interestingly, the recent GameStop (GME) Bitcoin purchase announcement appears to have sparked renewed interest in meme coins. This echoes 2021’s infamous GameStop short squeeze, when Reddit traders sent GME stock soaring over 1,000% in just a month.

Now, history seems to be repeating itself in the crypto market. Several GameStop-inspired meme coins increased in value following the company’s BTC purchase news.