The popular Memecoin Pepe fell approximately 1% when an important tokens holder sent 500 billion tokens valued around $ 4.8 million to Binance, adding sale pressure to the Token.
The measure is produced in the middle of a 40 -day bearish trend that cost the operator approximately $ 450,000. Tokens are often transferred to accounts in exchanges in preparation for imminent sale. The Token was more recently negotiated at $ 0.00000992, according to market data, which bounced from previous minimums about $ 0.00000938. Prices increased within a range of 6% before recovering towards resistance to $ 0.00000983.
The whale, according to Blockchain data, is still maintained at 1.5 billion tokens Pepe worth more than $ 14 million.
More than 3.26 billion tokens Pepe changed hands during the session, with the strongest volumes recorded during the recovery phase, according to the technical analysis data model of Coindesk Research.
After immersing himself in the minimum of the session, Pepe recovered sharply when the buyers intervened in the support levels. That increase lifted the price near an intradic peak.
The market responded to the transfer with sustained purchase interest, a sign of trust or opportunistic accumulation. Even so, the bearish pressure has not disappeared. The resistance remains firm just below $ 0.00001, and the price action continues to test support levels.
Nansen’s data support the case of accumulation of opportunities, since it shows that Pepe whales in Ethereum added 1.46% to their holdings in the last 30 days.
Pepe is surpassing the broader Memecoin. As measured by the Memecoin index of Coindesk (CDMIME), the sector lost almost 3% of its value in the last 24 hours, rather than the decrease in Pepe about 1%.
