PEPE Flips WIF As 3rd-Largest Meme Coin After Coinbase Launches Pepe Futures
The cryptocurrency market has witnessed an unprecedented surge in value for $PEPE, with its price reaching a record high.
PEPE’s latest price increase comes after U.S.-based crypto exchange Coinbase opened trading for PEPE perpetual futures contracts on its platform today. This remarkable growth has captured the attention of investors worldwide, including a diamond trader who has achieved an astonishing return on investment of 958,580x.
PEPE Surge Attracts Public Attention
According to Lookonchain, a blockchain analytics platform, the trader acquired 6.44 trillion $PEPE for a mere $83, equivalent to 0.041 $ETH. Notably, the trader has held onto their investment, never selling any $PEPE to date, and currently holds approximately $79.4 million worth of the cryptocurrency.
While the trader’s identity remains anonymous, it is essential to approach such claims with caution. Cryptocurrency markets are subject to volatility, and past performance does not guarantee future results. It is crucial to conduct thorough research and exercise prudence when making investment decisions.
However, the trader’s story serves as a testament to the potential for substantial gains in the cryptocurrency market. It also highlights the importance of holding on to one’s investments, even during periods of volatility.
It is worth noting that community allegations of insider trading have surfaced regarding the $PEPE team. According to the source, the team dumped $16,000,000 worth of tokens from the community treasury, which has raised concerns among investors.
In conclusion, the $PEPE diamond trader’s story is an extraordinary example of the potential for profit in the cryptocurrency market.
The $Pepe Price Attempting To Break Resistance
Over the past few days, $PEPE has exhibited a series of higher highs and higher lows on its 4-hour chart, resulting in the formation of a positive price channel. However, this bullish momentum appears to be waning as the coin approaches the $0.00000705 resistance level.
Currently, $PEPE is trading near the lower boundary of the ascending price channel. If traders engage in profit-taking, the price may fall out of the channel, increasing the risk of a correction toward the $0.00000631 support level. Further selling pressure at this point could result in a decline to the next key level of $0.00000573.
This bearish scenario could be invalidated if PEPE breaks above the $0.00000705 resistance level within the next 12 hours. In such an event, traders may consider entering long positions, potentially triggering additional buy pressure and pushing PEPE as high as $0.00000829.
