Let’s take a look at the history: Within 20 weeks of being listed on Binance, Shiba experienced an extremely strong pump that resulted in a 12-fold price increase in just 4 weeks. Currently, Pepe has been listed on Binance for 14 weeks. Will the future of Pepe follow a similar trajectory, especially considering the attention it’s been receiving from various influencers?
Keyword:
On August 12th, a Smart Money address conducted an accumulation of over 688 billion $PEPE on Binance, equivalent to around $970,000 at the current moment. If we consider the potential profit made by this wallet address if they were to withdraw their investment at this point, it’s more than 7% gain on their investment within a single day (almost $70,000). Upon examining the history of this Smart Money wallet, it’s evident that they have achieved significant profits by trading $ENS, $ETH, and $ICE, accumulating over $1.3 million in profits from these three tokens.
The Binance Wallet 8 address( a holding wallet of Binance) has started to show a trend of accumulating $PEPE after selling of from May until now. In total, this wallet address is now holding over $121 million Worth of $PEPE, which is nearly ⅕ of the total $PEPE supply currently present in the market.
This week, there have been 2 instances of Smart Money accumulating $PEPE after a prolonged period of inactivity. Notably, one of these wallet addresses is an early adopter of $PEPE, having purchased it in the initial days when $PEPE was still relatively unknown. This wallet address then sold a portion of their holding at the peak, realizing substantial profits.
Given thas this address is an early buyer, it’s not out of the realm of possibility that it could be associated with insider Trading and possibly possess certain upcoming information about $PEPE.
Wallet Address: 0xed47015bb8080b9399f9d0ddfc427b9cee2caab1
Value: $321,000
After a period of depositing a significant amount of $PEPE onto exchanges, in the past 5 days, there has been a consistent net withdrawal of this token back to personal wallet trend serves as a relatively positive signal for $PEPE in the recent timeframe. It coroborates the fact that the price of $PEPE has increased by 35% in just 6 short days.
However, on a different note, a few wallet addresses that had bought into $PEPE near its peak in early July at a price of $16 are now showing a trend of depositing tokens onto exchanges. They might be doing this to cut losses or await break-even as $PEPE encounters resistance in the $15 – $16 range. With a substantial value involved (660K$), this price range is likely to be a significant resistance zone to watch for $PEPE in the upcoming period.
Source: news.fmcpay.com
