Pepe's 15% Surge Sparks Controversy – Experts Recommend Safer Bet

Pepe’s 15% Surge Sparks Controversy – Experts Recommend Safer Bet

Updated: 14 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Pepe Coin’s recent performance sparked controversy in the market as investors embraced its bullish momentum while anticipating more rallies.

The recent Pepe price surge could be attributed to the significant whale activities recorded in the last six days. PEPE observed positive strides following these conspicuous movements.

The meme coin climbed from $0.000001185 to $0.00000142 in six days, with a $142+ million trading volume in the last 24 hours.

PEPE Breaks Above Upper Bollinger Band – Could Sharp Decline Occur?

PEPE’s positive market trend has driven more buying activities in the last 24 hours, pushing the coin’s price up by 2% to $0.000001426.

Its 24-hour trading volume is also up by 48%, recording over $130 million today. Pepe Coin’s value continues to appreciate as more buyers join the market.

PEPE/USD Daily Chart

In the chart above, the asset has formed seven green consecutive candle sticks, indicating increased buying pressure within a week. This reflects the solid bullish momentum on PEPE’s price in the last seven days.

The coin is trading a few pips above the Upper Bollinger Band. This shows that PEPE’s price is experiencing a rapid upward movement and may be overbought.

If PEPE upholds this movement for an extended period, a strong bullish momentum could emerge, signaling a potential continuation of the uptrend.

Also, PEPE’s Relative Strength Index (RSI) is at 61, moving upward. This shows the increasing buying activities in the coin’s market, suggesting price rallies to the overbought zone (above 70).

According to the chart above, PEPE’s Moving Average Convergence/Divergence (MACD) indicator is above the signal line and has bold green histogram bars. This depicts the bullish solid momentum on PEPE’s price today.

Given the all-positive signals on the indicators, traders and investors should closely monitor the coin’s price movement. Its position above the upper Bollinger Band could trigger price correction or consolidation in the coming days.

Factors that Could Affect PEPE’s Uptrend

In an August 10 tweet, Lookonchain revealed a substantial whale transaction of 486 billion $PEPE worth $604,000, following an 807 billion purchase by the same whale on August 9.

According to Lookonchain’s data, the whale now holds a massive quantity of $PEPE tokens of around 1.29 trillion, equivalent to $1.61 million.

It looks like this whale bought another 486B $PEPE ($604K) from Wintermute Trading 8 hrs ago.

The whale has bought a total of 1.29T $PEPE ($1.61M) in the past 3 days.https://t.co/CrAZV85SvB pic.twitter.com/0EBiVBb16D

— Lookonchain (@lookonchain) August 11, 2023

This reflects the heightened enthusiasm and engagement investors are developing for crypto. However, PEPE could record massive declines should the holders (whales) dump their holdings.

As such, PEPE is subject to this whale as any decision it takes can affect the coin’s value positively or negatively.

On the other hand, if the PEPE whale holds onto its massive token holdings for extended periods, it can contribute to price stability and foster positive market sentiment, boosting the coin price.

Meanwhile, the new Web3 Home project, Launchpad XYZ, may be worth considering for investors looking for high-profit short-term investment alternatives.

Become A Gainer in Web3 with The All-Inclusive Web3 Platform, Launchpad XYZ

Launchpad XYZ is an all-in-one web3 hub comprising all web3 products and services. Launchpad XYZ aims to build an accessible, community-driven environment where everyone can find the following high-rewarding coins before they take their bull run.

From #NFTs to play-to-earn games, we've got it all!#LaunchpadXYZ will provide an unbiased window into the latest and greatest experiences #Web3 has to offer

What are you waiting for?
👉https://t.co/6qHqqRBG7F
#Crypto #Trading #P2E #Presale pic.twitter.com/QHJDLi4qXu

— Launchpad.xyz (@launchpadlpx) August 14, 2023

It comes with a utility token, $LPX, that powers all activities and transactions on the platform, allowing its users to access premium features, invest in new presale projects, and even engage in trading activities all in one dashboard.

With features like Terminal, Trading Edge, Alpha, and AI assistant, users can easily make the most of their trading experiences on the platform, hitting more profits than losses in all their trades.

LPX aims to allow users access to new projects with high profit-yielding potential. It will enable users to earn presale tokens by staking their LPX tokens. This feature could be part of why the LPX presale has attracted massive investor interest since its launch.

Since $LPX is the utility token for Launchpad XYZ, interested investors should buy the token for as low as $0.0445 with their USDT, ETH, or bank card.

The presale’s milestone of $1.28 million out of $1.5 million shows the heightened interest of investors in the presale. After the presale, $ LPX’s price will increase and will list on several exchanges for more accessibility and reach to a broader audience.