PEPE Price Eyes 9% Breakout as Whale Moves $13.3M
By: coinchapter|2025/05/02 21:45:01
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PEPE Price Forms Falling Wedge, Signals 9% Upside Potential On May 2, 2025, the PEPE to Tether (USDT) 4-hour chart showed a falling wedge pattern. A falling wedge is a bullish chart formation where the price moves between two downward-sloping trendlines that get closer together, often signaling a breakout to the upside. The chart highlights how PEPE moved inside this narrowing wedge after a strong impulse move. The 50-period Exponential Moving Average (EMA), which tracks the average price over time while giving more weight to recent prices, currently runs just below the price and acts as dynamic support. Volume remains steady during this pattern, with a few surges on green candles, supporting bullish interest. The Relative Strength Index (RSI), a momentum indicator, stands at 49.95. This is close to the neutral 50 mark and shows the market is balanced but may shift direction soon. If the breakout confirms, the upside target sits at 0.00000961 USDT. This level represents a 9% gain from the wedge breakout point. The structure and momentum suggest bulls may attempt to retest that level in the short term if volume continues to support the move. Whale Moves 1.5T PEPE as Supply on Exchanges Drops Sharply On May 2, 2025, a whale wallet withdrew 1.5 trillion PEPE tokens—worth approximately $13.3 million—from Binance, according to blockchain tracker Lookonchain. The wallet holds over $147 million in assets, and this move comes during a notable shift in exchange supply dynamics. At the same time, Santiment data shows that PEPE’s total exchange supply has dropped to 107 trillion tokens, the lowest point in over a year. This decline means traders are moving their holdings off exchanges, reducing available supply and raising the chance of a supply squeeze. Meanwhile, some analysts expect a bullish breakout, pointing to a descending trendline on the chart. One forecast suggests a potential 130% price increase, with a target near $0.000021, if the breakout confirms.
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