Key Notes
- A crypto whale withdrew 500 billion PEPE tokens (worth over $4.3 million) from Binance.
- The frog-themed meme coin is down by 6%, trading around $0.0000085.
- Analyst Jake Gagain predicts PEPE’s recent slump is over, forecasting a parabolic run ahead
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A crypto whale recently withdrew 500 billion PEPE tokens, worth over $4.3 million, from Binance. On-chain data from Lookonchain revealed that the whale created a new wallet specifically for this transaction, hinting at strategic accumulation rather than casual trading.
The transaction comes as PEPE experiences volatile movements. Despite a 14% increase over the past week, the frog-themed meme coin has dipped by 6% in the past 24 hours, trading around $0.0000085 at the time of writing.
A newly created wallet just withdrew 500B $PEPE($4.3M) from #Binance.https://t.co/1FKuNmFEdB pic.twitter.com/kL2Wj6M88j
— Lookonchain (@lookonchain) March 27, 2025
Popular crypto analyst Jake Gagain shared on X that PEPE’s bottom is now over, calling its recent market slump a temporary blip. According to Gagain, the coin’s resilience following its five-month low hints at a potential parabolic run ahead.
$PEPE Will Outperform Every Memecoin In 2025. pic.twitter.com/ZZqbXng8tb
— JAKE (@JakeGagain) March 26, 2025
Meanwhile, technical analyst Charting Guy suggested that PEPE is eyeing the 2.618 Fibonacci extension, which could push the token toward the $0.00012 mark. If realized, this would represent a 1,400% gain from its current price level.
dare i say $PEPE can still go to the 2.618?
🐸🐸🐸🐸🐸🐸🐸🐸🐸🐸🐸🐸🐸 https://t.co/5Lm8GsWNFk pic.twitter.com/t74A780F0y— Charting Guy (@ChartingGuy) March 26, 2025
PEPE Price Outlook
On PEPE’s daily price chart, the price is hovering near the upper Bollinger Band, indicating mounting buying pressure. If PEPE breaks above this range, it could trigger a bullish breakout.
However, a rejection at this level might lead to a short-term correction toward the middle band support.
Meanwhile, the RSI currently sits at 56.78, suggesting that PEPE still has room for further upside. However, if the RSI sees a sudden spike, traders might anticipate temporary profit-taking, potentially slowing the rally.
Meme Coin Market Booms on GameStop’s Bitcoin Bet
The broader meme coin market is also on the rise, adding $12 billion to its total market cap over the past two weeks. As per the data by CoinMarketCap, the total market cap of the sector currently sits at $55.44 billion. This increase followed the sector’s fallout due to the LIBRA scandal.
Interestingly, the recent GameStop (GME) Bitcoin purchase announcement appears to have sparked renewed interest in meme coins. This echoes 2021’s infamous GameStop short squeeze, when Reddit traders sent GME stock soaring over 1,000% in just a month.
Now, history seems to be repeating itself in the crypto market. Several GameStop-inspired meme coins increased in value following the company’s BTC purchase news.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
