The PEPE price continued its recovery this week, jumping for four consecutive days in the middle of the accumulation of whales and an Ethereum rebound.
Summary
- The price of the PEPE piece has rebounded in the last four consecutive days.
- The data show that whale and intelligent fund investors accumulate.
- The techniques suggest that it has more short -term rise.
Whales buy pepe tokens
The Pepe (PEPE) token rose to $ 0.0000,12 on Saturday August 9, its highest level since July 28 and 135% above the lowest point of this year.
Nansen’s data show that whales have continued to buy the recent decrease, their assets jumping at the highest point in more than a year.
Whales contain more than 8.95 billions of tokens, a monthly leap of 12%. Their assets have climbed 30% in the past 12 months, a sign that they expect it continues to increase.
Investors of smart money have also strengthened their Pepe assets. They now hold 643 billion tokens, a strong increase compared to 258 billion in May of this year. Investors in smart money have the reputation of carrying out profitable transactions.
More data show that Pepe demand has increased on the long -term market. Its long-term open interest jumped in the last seven consecutive days, reaching a summit of $ 720 million, the highest level this month.
The weighing of the soil has coincided with an extended period of positive financing rate. A positive financing rate is a sign that market players hope that the future price will be higher than the spot.
A potential catalyst for Pepe is that the Ethereum (ETH) price has become vertical and approach its top of all time. ETH increased to $ 4,100 while the demand for American investors has skyrocketed.
It is common for the pieces even in a chain to join when the main token is overvoltage. For example, tokens like Dogwifhat (WIF) and Bonk (Bonk) often jump when Solana’s price increases.
Technical analysis of Pepe Price
The daily stopwatch shows that the price of the PEPE part has been in a high rise up in recent months. It went from a hollow of 0.000005078 to $ 0.00001200.
Pepe remains above the ascending trend line that connects the lowest swings since March of this year. He also formed an ascending triangle motif, which often leads to a strong escape.
Pepe jumped above the Fibonacci trace level of 23.6% and the 50-day mobile average. Consequently, it will continue to increase, because the bulls target the level of retirement from 38.2% to $ 0.000014, followed by the summit of the year prior to $ 0.0000,1625.
