The price of Pepe (PEPE) has risen by about 6% over the past twenty-four hours, trading near the level of $0.000004512.
The price is still 83% lower than its annual peak of $0.00002825, but behind the scenes, something unusual seems to be happening.
Despite the weak chart, it seems that smart money is moving quietly.
Data from the blockchain by Nansen reveals that whale wallets accumulated 30 billion PEPE over the past month, increasing their holdings from 4.41 trillion to 4.44 trillion.
At the same time, the supply on trading platforms decreased from 259.1 trillion to 258.2 trillion, a slight change but indicates that investors are withdrawing their tokens from the platforms to cold storage wallets.
So, is a major reversal forming under this bearish chart?
PEPE Token Price Analysis: Retesting Multi-Month Lows
Pepe spent several months inside a descending wedge pattern, repeatedly failing to break through the downward trendline.
The price of PEPE is now just above a pivotal base that has formed a support level for over a year.
Any clear break below this structure may open the way to the lower bound of the wedge, which could indicate a drop near $0.00000340 or even $0.00000300.
But if buyers dominate the market and momentum increases, PEPE may be able to break through the bearish wedge pattern with bullish characteristics and target the $0.00002 level.
This rise represents a potential increase of about 300% from current levels.
Whales continue to buy
The broad market downturn has prompted many traders to reduce their exposure to high-risk tokens, but whale behavior tells a different story for Pepe.
Major holders added amounts of tokens during periods of fear, and exchange balances finally started to decline after months of inflows.
This mix indicates a calm confidence that the token may be forming a long-term bottom.
With interest returning to PEPE | Whales are heading to buy the PEPENODE presale offer
As whales rush to buy PEPE, the PEPENODE ($PEPENODE) project, which is a 'mining for profit' initiative, offers a new vision for mining by replacing complex hardware with a fully virtual system in a more game-like style.
The project has strong support, having already raised $2.3 million in its ongoing presale.
Instead of buying expensive mining equipment, users spend $PEPENODE tokens to build and upgrade digital server rooms and virtual nodes.
The project is built on the Ethereum chain as an ERC-20 token, relying on strong deflationary mechanisms to maintain its value in the long run.
Approximately 70% of the tokens used to purchase or upgrade these nodes are permanently burned, reducing the supply and creating ongoing scarcity.
With 3 hours and 41 minutes remaining before the next price increase, $PEPENODE can now be purchased for $0.0011825.
To participate, head to the official PEPENODE website and link a supported wallet like Best Wallet.
You can simply pay with cryptocurrencies or use a debit and credit card to complete the purchase of $PEPENODE within seconds.
