Big crypto investors are buying up massive amounts of PEPE, one of the market’s most popular meme coins. This surge in whale activity comes as technical analysis suggests a potential price explosion could be on the horizon.
Blockchain watchdog Lookonchain reported that three wallets purchased 689.79 billion PEPE tokens, worth about $4.3 million. These purchases happened within the past day, with all funds originating from TornadoCash.
One wallet alone, identified as 0x7A7D, spent 1,413.4 ETH ($2.72 million) to acquire 437.7 billion PEPE. Another wallet invested $1 million for 158.58 billion PEPE, while a third used 299 ETH ($574,000) to buy 93.51 billion tokens.
The buying frenzy doesn’t stop there. Onchain Lens just reported that a fresh wallet has dropped $1.9 million USDC to scoop up another 282.44 billion PEPE tokens.
Just In: A newly created wallet has spent $1.9M $USDC to buy 282.44B $PEPE.
Address: 0xd96ece230330781916436b761425ab9e45360239 pic.twitter.com/I7BKbf9Mhe
— Onchain Lens (@OnchainLens) March 12, 2025Technical Analysis Signals Possible 40x Rally
As whales load up their bags, crypto analyst HaileyPEPE is painting a bullish picture. “Will we see a 40x PEPE move within the next few months? I’m bullish!” the analyst posted.
The technical case for this outlook stems from PEPE price movement within an ascending channel, suggesting an overall upward trend. The chart shows multiple cup-and-handle patterns – rounded bottom formations that typically signal more upside after consolidation periods.
PEPE price has recently touched the lower boundary of this channel, potentially marking a bottom before a major move up. If history repeats itself and the patterns play out as expected, PEPE could surge to around 0.0002562, representing the 40x increase from current levels.
Read Also: When Will Ripple (XRP) Price Resume Rally? Here Are Two Possible Bullish Scenarios
While a 40x jump might sound extreme for traditional markets, meme coins have a history of explosive price action. That said, the crypto market remains highly unpredictable – the same volatility that can send prices soaring can also trigger devastating crashes.
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