SNEAK PEEK
- Suspicious transactions raise concern amidst PEPE’s market turbulence.
- Bears dominate the PEPE market, but potential reversal looms.
- Caution is advised as PEPE’s negative indicators point to selling pressure.
The fact that Address 0x1497 sold all 972.84B PEPE for $514 in ETH, which is only worth around $848K, makes it seem like they may have had insider information. Seeing someone sell such a large amount of PEPE at a seemingly low price is concerning. This suspicion is only heightened by the fact that they also sold 145.5 billion PEPE at a loss of $15K, marking their sixth loss since making a profit of 1,219 ETH on the same investment.
Address 0x1497 sold all 972.84B $PEPE for 514 $ETH ($848K) ~2 hrs ago, the selling price was $0.0000008718.
This guy might be an inside trader.
He received 0.58 $ETH from #FixedFloat and spent 0.027 $ETH ($58) to buy 2.27T $PEPE within 10 minutes of $PEPE starting trading. pic.twitter.com/QflquoJu0l
— Lookonchain (@lookonchain) June 15, 2023
This individual may be simply experiencing bad luck, but it’s hard to ignore the possibility of foul play, given the circumstances. However, the PEPE market has been dominated by bears, pushing prices to an intraday low of $0.000008418 despite attempts by bulls to reach an intraday high of $0.000000944. As of the time of writing, PEPE’s price had dropped from 5.75% to $0.000008692 due to ongoing bearish pressure.
This guy sold 145.5B $PEPE at a loss of $15K again 5 hrs ago.
This is the 6th loss since he was lucky enough to make 1,219 $ETH on $PEPE.https://t.co/xuDrFRSIbk pic.twitter.com/4VnCHeQv6d
— Lookonchain (@lookonchain) June 15, 2023
PEPE’s market capitalization dropped by 5.77% to $340,210,175 due to the recession, while the 24-hour trading volume dropped by 6.99% to $109,499,176. Investors’ uncertainty and prudence as they closely monitor the PEPE market and hold off on making sizable investments until they see a rebound are to blame for this decrease.
The Fisher Transform value of -1.01 is negative and below its signal line on the PEPE market’s 4-hour price chart. This action indicates that there is further selling pressure. Therefore, traders may consider going short or delaying the creation of long positions until there is a potential trend reversal.
With a rate of change (ROC) value of -6.52, the market shows strong negative momentum, which could lead to more drops if price movement breaks critical support levels. Conversely, if the ROC rating improves and moves into positive territory, this may signal improved buying possibilities and a shift in momentum for traders.
The Elder Force Index (EFI) for the PEPE market’s 4-hour price chart is negative, with a value of -47.739k, indicating that there is increased selling pressure in the market and the commencement of a bearish trend. Even if PEPE is cheaper, a significant price hike is likely coming.
On PEPE’s market 4-hour price chart, the Commodity Channel Index (CCI), which is negative and has its line pointing south, has a value of -137.82. This pattern indicates that the PEPE market is experiencing intense selling pressure and that a price reversal will likely happen shortly.
In conclusion, PEPE’s turbulent market ride and suspicious transactions raise eyebrows, but caution and patience remain key to navigating its unpredictable journey. Traders anticipate a potential trend reversal amidst negative indicators.
Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions
