Pepe Coin Shows Signs of Rebound as Whales Accumulate
Pepe coin (PEPE) has been stable this month, hinting at a potential price recovery.The token is currently valued at $0.0000075, slightly above its yearly low of $0.000005860.
On-chain data suggests a positive outlook. The Mean Dollar Invested Age (MDIA) has spiked to 128 from 35 in November. This metric reflects the average purchase price of tokens in current wallets.A rising MDIA indicates holders are less likely to sell, signaling confidence in the asset.
Exchange supply has also decreased.It now stands at 26.6% of the total supply, down from 45% in November.
Whales are also showing interest. They now hold 172 trillion PEPE coins, up from 131 trillion.This accumulation suggests a bullish sentiment among large investors.
Technically, PEPE has formed a double-bottom pattern at $0.000005860.A falling wedge pattern is also visible, with bullish divergence in oscillators like MACD and Awesome Oscillator. Thes signs point to a potential price increase, with a target of $0.000010, a 35% rise from current levels.
the combination of reduced exchange supply, whale accumulation, and positive technical indicators suggests that PEPE could be poised for a rebound.
