Pepe News: Meme coins are having a tough month along with general market movements, and popular meme coin Pepe has lost 32 percent of its value in the last month. While the declines raise concerns among investors, whale movements and transfers over the last two days have begun to attract attention. In addition, the current price of the meme coin is moving close to the critical support level of $0.0575.

PEPE whales have been active for the past two days

On August 28 and 29, Pepe whales are regularly making sales and transfers. On-chain data mostly signals a bear market, but according to IntoTheBlock data, there was a $8.96 million outflow on August 28. It is noteworthy that in the last three weeks, whales have started to accumulate Pepe during the price drops of the meme coin. According to the data announced on the Stoponchain platform, a whale that previously bought on July 25 made a purchase of 1.34 million PEPE coins on August 28.

Source: According to the StoponchainPlatform's announcement, Whale 0x612 bought 173.023B PEPE for a total of 1.34 million US dollars. The new move of the whale, who previously sold 170.2 billion coins at the end of a 9-month period in July, earning 1.77 million dollars in profit, raised the question of a new buying opportunity. The whale, who made a profit of 886 percent, may have taken the opportunity to buy at the bottom, especially in the meme coin, which has shown a downward trend in the last month.

PEPE price analysis: How will meme coin move in September?

The meme coin market, along with the general cryptocurrency market, has had a tough summer. Some recovery is expected in the fourth quarter of 2024 due to global events such as the Fed interest rate cut. However, the prevailing view is that the sideways trend will continue in September. It is thought that Pepe's price may show better performance in September and will rise at the end of 2024 with the best meme coins.

PEPE graph Source: CoinMarketCapWhen we look at the current graph, it can be seen that Pepe, a popular shitcoin, has been moving in a weak trend for the last five days. 50 EMA is moving above the price and the Relative Strength Index (RSI) is below the 50 level at 46. The trading volume of the meme coin, which is trading in the neutral zone, has decreased by 30%, and the current price has risen by 8% in late trading hours, trading at 0.058138 dollars.

The information in the text is purely for informational purposes. It does not constitute investment advice. The author and kriptoparahaber.com are not responsible for any profit or loss arising from your investments. Ultimately, investment is based on many factors such as knowledge, experience, research, and personal decisions.

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