Famous Memecoin Pepe Hits $0.000001, Is the Coin Giving Bullish Signals?

Crypto News – A rise in social connections and large investments from key investors have helped Pepe coin recently show indications of resurgence.

Famous Memecoin Pepe Hits $0.000001, Is the Coin Giving Bullish Signals?

This upsurge raises the possibility of a favorable development for the meme-based cryptocurrency and its users. The Pepe coin, famed for its frog theme, has shown a remarkable rebound from its joint support at $0.00000106 while looking at the daily chart. This rising momentum may be related to the formation of an ending diagonal, a bullish reversal pattern. Moreover, the coin’s price has surpassed a nearby resistance level of $0.00000135, suggesting that there may be more upward movement.

Whales Take an Interest in Pepe Coin

Lookonchain insights have revealed a significant increase in whale interest in PEPE. A large 1 million USDC investment was made to acquire an astounding 807 billion PEPE tokens at a cost of $0.000001239. This tactical choice reflects the increasing PEPE market value.

The PEPE coin’s recent performance highlights the whales’ efforts to increase demand, similar to what they did in July. The coin currently has limited utility outside of speculative trading. Therefore, it’s vital to recognize that this move may be mostly motivated by speculation.