Pepe Coin Price Fluctuations

Pepe coin price has fluctuated over the past two days after a significant rally, and it appears to be on a recovery path again.

During this period, major cryptocurrency whales made substantial purchases of the popular meme coin amid the recent market crash. On-chain data indicated that three large wallets acquired nearly 690 billion PEPE tokens, valued at approximately $4.3 million.

Despite the overall bearish trend in the crypto market, PEPE showcased resilience, posting a 14% price increase within 24 hours. After rising, it briefly fell to $0.00006534 but then increased to $0.000006986 after a 1.68% hike.

Tornado Cash Wallets Purchase Billions of PEPE

Blockchain intelligence firm Lookonchain tracked three wallets that collectively purchased 689.79 billion PEPE tokens worth about $4.3 million. All involved wallets are linked to Tornado Cash, a crypto mixing service promoting user anonymity when moving funds.

The largest purchase was made by wallet 0x7A7D, which spent 1,413.4 ETH ($2.72 million) on 437.7 billion PEPE tokens. The second wallet, 0x9212, acquired 158.58 billion PEPE for $1 million. Finally, wallet 0x7779 purchased 93.51 billion PEPE for 299 ETH ($574,000). These significant purchases occurred within an 11-hour window, drawing attention during a cryptocurrency market downturn.

PEPE/DOGE Pair Indicates Possible Bull Run

Traders are monitoring the PEPE/DOGE trading pair for indications of a potential meme coin resurgence. CEO of Because BTC, Max, emphasized what he calls “THE SIGNAL” for meme coins, which he successfully used to identify a prior entry point for PEPE in 2023.

His analysis suggests that comparing PEPE to Dogecoin, a benchmark for meme cryptocurrencies, provides insightful predictions regarding price movements. He noted that the current chart setup resembles previous patterns seen before rallies, hinting at a potential opportunity for those who missed prior gains.

PEPE Coin Price Action and Future Outlook

In the past 24 hours, PEPE coin has risen 14% to $0.000000635, reaching a peak of $0.0000007387, reflecting its volatility. Looking toward the future, Coincodex forecasts a bullish long-term trajectory for PEPE, projecting a 226.41% increase to $0.00002293 by April 12, 2025.

However, short-term indicators suggest a more cautious outlook, with current sentiment labeled as “Bearish” in technical analyses. The Fear & Greed Index reading of 45 categorizes the market as in a state of “Fear,” often indicating short-term market psychology. Over the past month, PEPE recorded 14 positive days out of 30, reflecting a 47% performance rate but showed a price volatility of 16.11%. Despite the optimistic long-term prediction, Coincodex advises that “it’s now a bad time to buy Pepe Coin,” considering current market conditions and bearish sentiment.