In the last hour, the whale sent 400 billion PEPE (about $4.22 million) to Binance in an attempt to make a profit. The whale now has 395.93 billion PEPE, worth $4.18 million, after withdrawing 795.92 billion PEPE, or $2.55 million, from Binance on March 1.
With a remarkable ROI of 230%, the total profit of the whales from PEPE is $5.85 million. Looking at the PEPE chart, we can see that the asset has recently experienced a decline that ended just above the key 50 EMA (exponential moving average).
A break below it could indicate additional bearish momentum, making this level critical as it often serves as a solid support level. According to the chart, the 50 EMA is located just above the current price of PEPE, which is approximately $0.00001055.
The Relative Strength Index has dropped to 54, which suggests the trend is slowing down but has not yet reached oversold levels. The significant sell-off by the whale and this decline are concerning as they could lead to more selling pressure in the market. The next support levels to watch are around $0.00001046 and $0.00000846 – if PEPE fails to sustain its gains above the 50 EMA.
These levels may again serve as a solid base for stabilization and possible growth of PEPE. They have previously served as strong support. Given the whales’ profit-taking behavior and the state of technical indicators, traders should exercise caution.
A major sell-off by large holders could cause further price declines and increased volatility. However, PEPE could find some stability and attract buying interest at these lower levels if it can maintain its position above the 50 EMA.
