A Web3 knowledge evaluation tool called Lookonchain revealed shared intricate details of how a person made significant profits by buying and selling PEPE coins. In particular, the person spent 400K $USDC to buy 263B $PEPE at $0.000001519, earning 1408 ETH, or $2.6 million.
Additionally, from April 17 to 19, this specific user spent 46 $ETH to purchase 1.66T $PEPE using three addresses. Then, for 1,454 $ETH, he purchased every single one of them. As a result, the difference between his earnings and expenses amounted to 1408 ETH.
According to CoinMarketCap, the PEPE coin is now leading the trending list as of the time of publication. However, the reason why it came in first on the trending list has not yet been identified. When looking at the PEPE seven-day chart, there isn’t much to commend the price movement.
The token has been in the pink zone since last Wednesday, June 5, briefly eclipsing the inexperienced zone before resuming its position in the pink zone. Although PEPE experienced a significant dip over the first three days of the week, consolidation had taken hold over the next four days. As of the time of publication, PEPE is trading at $0.000002, up 5.63% over the previous 24 hours.
The accompanying chart shows PEPE bouncing between two falling wedges, the present one and the one in mid-Might. The current dropping wedge may mark the start of PEPE’s future falling leg. There are a few clues that need to be considered in addition to the fact that this might be the next leg of the falling wedge for PEPE.
For instance, it can be seen that PEPE experienced a significant price surge right before the falling wedge formed when comparing the falling wedge from May with the present wedge, as demonstrated above. Additionally, the value fluctuation across the wedge can also be somewhat similar. Therefore, this may be considered the next leg of PEPE’s value decline.
Additionally, the downward-titling Bollinger bands are maintaining a distance between them. This suggests that the value of PEPE may eventually decline. PEPE may increase towards the upper band before retracing since it is close to the Bollinger Band’s Easy Transferring Common. When it reaches the upper band, it would crash into the lower band.
Therefore, if PEPE descends, it may look for assistance at $0.00000142. If its fall is not stopped by the aforementioned assistance, it may crash farther to $0.00000108. However, if the bulls drive down and raise PEPE, it might reach $0.00000174.