PEPE News: Potential 20% Rally on the Horizon Amid Market Rebound

PEPE, one of the most popular memecoins in the cryptocurrency market, is showing signs of a potential rebound after a significant price decline over the past two months. This resurgence follows its recent listing on the Japanese cryptocurrency exchange Bitflyer, which has opened doors to broader markets. On-chain data indicates that exchanges have experienced outflows of $10.15 million worth of PEPE, suggesting that whales and long-term holders may be accumulating the coin. This activity could signal a bullish trend, with a 20% rally being a plausible target if the momentum continues.

20% Rally for PEPE? Examining How Likely That Is for the Memecoin

PEPE, one of the market's most popular memecoins, might be rebounding on the charts after a major price decline over the last two months. This rebound follows its listing on the Japanese cryptocurrency exchange Bitflyer, which has added the memecoin to explore broader markets. On-chain metrics revealed that exchanges have seen outflows of $10.15 million in PEPE, indicating potential accumulation by whales and long-term holders. The listing seems to be shifting the prevailing market sentiment, with increased participation, interest, and confidence in the frog-themed memecoin.

Pepe Price Forecast: Recent Dips Liquidate Over $20 Million in Leverage Trades

Pepe (PEPE) price hovers around $0.000010 on Tuesday after falling more than 23% the previous week. The recent correction in the frog-based meme coin has liquidated over $20 million in two days. On-chain data shows signs of weakness as PEPE’s funding rates are negative, and the Network Realized Profit/Loss (NPL) indicator falls sharply, indicating a further decline. PEPE traders face massive wipeout as the price declined more than 11% on Sunday and continued its fall, reaching the November 5 low of $0.

Assessing Impact of 190B Whale Dump on PEPE’s Price

PEPE whales offloaded 190 billion tokens within 24 hours after the price approached a three-month low. Despite this, PEPE defied bearish trends, gaining 7% in 24 hours to trade at $0.0000099. However, the lack of whale interest and increased selling activity could hinder a long-term uptrend. Data from IntoTheBlock shows a four-fold increase in large PEPE transactions exceeding $100,000, primarily due to selling.