Whale Buys Back 173B PEPE Tokens After 886% ROI, Could Another Bull Run Be Brewing?

• Whale buys 173B PEPE with 1.34M USDT, after selling for a 1.77M USDC profit, signaling renewed market interest.
• PEPE’s 50-period MA nears a potential crossover with the 200-period MA, hinting at possible trend shifts.
• PEPE price increases 2.45%, reaching $3.3B market cap, though 24-hour trading volume dips by 6.89%.

Notably, according to data from SpotOnChain, a whale with an impressive return on investment (ROI) of 886% has made a move in the PEPE market. The whale recently spent 1.34 million USDT to reacquire 173 billion PEPE tokens just nine hours ago. 

This strategic purchase follows the whale’s previous successful trade, where they initially spent 200,000 USDC to buy 170.2 billion PEPE in October 2023. After holding for nine months, the whale sold all their holdings in July 2024 for 1.97 million USDC, securing a profit of 1.77 million USDC.

PEPE’s Current Market Performance

At press time, PEPE was trading at $0.057852, a 2.45% increase in the last 24 hours. This price movement has elevated PEPE’s market cap to $3.3 billion, up by 2.49%. However, the 24-hour trading volume has experienced a decline, dropping by 6.89% to 715.45 million USDT, though it still ranks 14th by trading volume. 

The volume-to-market cap ratio of 21.60% indicates active trading relative to its market capitalization, supported by a circulating supply of 420.69 trillion PEPE tokens, which represents the total and maximum supply.

Moving Averages and Price Trends

Notably, the price experienced a strong upward trend starting in late April, reaching its peak by the end of May. However, this was followed by a decline and subsequent stabilization. The 50-period and 200-period moving averages (MAs) provide additional insight into these trends. 

The 50-period MA, reflecting short-term trends, closely follows the price, while the 200-period MA offers a broader, more stable view of the market. Notable moments include the 50-period MA crossing above the 200-period MA, signaling a bullish trend, and later crossing below it, indicating a bearish trend. Currently, the price appears to be stabilizing after a decline, with potential implications for future movements.

Trend Observations and Market Implications

The whale’s recent buyback and the observed market performance suggest that PEPE remains a volatile asset, with potential for both upward and downward movements. As the 50-period MA appears to approach a crossover with the 200-period MA, analysts will watch for signals of a continued bullish trend or further market correction.