- Whale transferred 581B PEPE tokens worth $8M from Binance wallet.
- TD Sequential indicates potential price resistance near $0.000015 level.
Pepe (PEPE) has seen a nearly 100% surge over the past two weeks, reigniting interest among traders. The memecoin now faces mixed signals as indicators suggest a short-term reversal may be underway. Whale movements on-chain and technical alerts are shaping market sentiment.Â
TD Sequential Flashes Sell Signal After Rally
Analyst Ali Martinez reported that the TD Sequential indicator has flashed a sell signal for $PEPE, suggesting a possible near-term pullback. According to Martinez, this indicator has accurately tracked $PEPE’s previous trend reversals.
The most recent signal appears near the $0.000015 price level, a key resistance point after the recent rally. The TD Sequential has identified past price tops and bottoms with reasonable precision, and its current reading suggests selling pressure could rise.
The memecoin will likely face downward movement as technical traders react to this alert. Martinez highlighted that such signals precede a correction, especially after a rapid price increase.
At the time of writing, $PEPE is priced at $0.00001404, marking a 3.56% rise in the past 24 hours.
Source: Coinmarketcap
Despite this upward movement, 24-hour trading volume has dropped by 22.67% to approximately $1.27 billion. Analysts note that a drop in volume following a price increase can reflect weakening momentum.
Whale Moves $8 Million in $PEPE Tokens Off Binance
Large-scale on-chain movements involving $PEPE have drawn attention in a separate development. Onchain Lens reported that a whale transferred 581.1 billion $PEPE tokens from Binance to a private wallet. The transfer, valued at about $7.94 million, came from address (0x8ffb9606).
Blockchain records show two transactions: one moving 581.09 billion $PEPE and another 16.42 million tokens. A small transaction of 0.1 ETH, worth around $255, was also recorded by a DEX trader at the same address. The nature of this whale movement suggests strategic repositioning, possibly to reduce exchange liquidity or signal long-term holding.
The impact of this withdrawal is twofold. It reduces the available supply on centralized exchanges and may influence short-term trading behavior. Binance remains the dominant platform for $PEPE, with $303 million in spot volume in the last 24 hours. This accounts for 23.84% of all $PEPE trade volume, supported by high liquidity and trading confidence.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
