Accumulation of 23 trillion pip by big market whales; Is PEPE’s comeback imminent?

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According to market data, MemeCoin Pepe (PEPE) has lost nearly 73% of its market value since reaching its peak in the past 9 months. However, a new report from Sentiment Team reports significant changes in the behavior of large investors.

According to reports, the top 100 Pepe wallets have accumulated a total of PEPE 23.02 trillion during the massive market crash that began about four months ago. According to sentiment analysts, “smart” wallets often play an important role in trend reversals and the initiation of large bullish waves.

On the other hand, retail investors are still cautious and bearish. Technical analysis shows that PEPE is trading below all key moving averages, and the Super Trend and ADX indicators also confirm the selling pressure.

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Pepe’s important support is now at $0.000031 and if broken, the next targets will be $0.0000197 and $0.00000529. Conversely, a break through the $0.00000726 resistance could trigger a bullish retracement signal.

Other memecoins such as Dogecoin, Shiba, Bunk and Floki are also experiencing similar pressure. However, massive whale accumulation could only lead to a short-term rally or reversal if Bitcoin’s trend stabilizes.