🐸 Pepe Coin (PEPE) has grabbed significant investor attention. Recently, a smart money address offloaded 118.5 billion PEPE to Kraken, sparking discussions about its future price trajectory.
💸 Smart Money Dumps PEPE
According to EmberCN on X, a smart trader moved 118.5 billion PEPE, worth $1.48 million, to Kraken. This trader initially bought the same amount in November for $0.13 million, realizing an 11-fold return after HODLing for seven months. Smart money dumps are often seen as bearish signals.
📉 PEPE Price Fluxes
PEPE's price has been volatile, currently at $0.00001263, with a 24-hour range of $0.00001207 to $0.00001269. Coinglass data shows a 3.76% surge in PEPE’s Futures OI to $141.02 million, indicating increased investor interest, while derivatives volume dipped 35.85%, showing reduced market activity. The monthly chart shows a 20.82% dip, aligning with the smart money dump.
📊 Market Sentiment and Future
The RSI at 53 signals broader neutrality, creating uncertainty about future price movements. Despite this, market sentiment remains optimistic about PEPE’s long-term prospects, especially with the introduction of Pepe Coin Unchained (PEPU), the first meme coin L2.
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