- A major PEPE whale moved 170B tokens, raising concerns about potential sell-offs or strategic shifts.
- PEPE RSI at 39.04 and MACD divergence suggest bearish momentum despite a recent 5.8% price surge.
- PEPE Fluctuating inflows and outflows indicate market uncertainty, highlighting the need for close liquidity monitoring.
A PEPE multi-signature wallet recently executed a major transaction by moving 170 billion PEPE tokens worth $2.17 million to the newly created 0x1ec wallet two days ago.This movement has attracted considerable attention within the cryptocurrency community, as such large transfers often trigger concerns about potential sell-offs or strategic shifts by project teams. According to data from Spot On Chain, the whale wallet later dumped 6B PEPE tokens worth $76.65K to Binance.
PEPE Price Movements and Key Levels
At press time, PEPE was trading at $0.00001296 with a price surge of 5.8% showing increased buying interest at lower levels. Support is near $0.00001202 while resistance remains close to $0.00001327.
However, the Relative Strength Index (RSI) for the cryptocurrency trading at 39.04 on the daily chart shows a substantially bearish sign for the meme coin. Additionally, the MACD indicator confirmed a bearish divergence as it trades below the signal line. The MACD histogram also remains red.
PEPE Capital Flows Fuel Price Movements
As per data from Coinglass, there is a strong relationship between capital inflows and PEPE’s price. A notable spike in inflow around $4M occurred around January 29, followed by a sharp outflow drop near -$5M. Later, fluctuations balance with alternating buy and sell pressures, showing volatility and potential liquidity shifts in market sentiment.
These balanced fluctuations suggest stabilization but continued uncertainty, emphasizing the importance of monitoring liquidity trends for market predictions. Traders should watch for sustained inflow dominance or persistent outflows to determine future price direction.
Despite the uncertainty, PEPE remains a highly watched digital asset. Its future price movements will reveal whether this transfer signals market shifts or simply reflects organizational changes within the development team.