2024-5-6 18:15

A smart investor has made a substantial investment today in one of the popular meme coins, PEPE. According to a tweet by Lookonchain, a blockchain analytics platform, the investor spent 1.26 million USDC to acquire 142.96 billion PEPE tokens at a price of $0.000008831 per token.

This smart money investor has demonstrated a remarkable track record in trading PEPE, with a win rate of 85.7% over the past six months. Out of the seven trades executed during this period, six were profitable, resulting in a total profit of $915,000.

Technical Analysis Reveals Bull Flag Pattern and 500% Upside Potential

Crypto Patel, a prominent technical analyst, has identified a bullish chart pattern for PEPE, suggesting a potential 500% upside. The chart analysis reveals a bull flag pattern, with a breakout confirmed at $0.00000775. A retest of the breakout level is expected at $0.00000750 before the token potentially continues its upward trajectory.

The bull flag pattern is a continuation pattern that appears after a strong upward move, followed by a consolidation period. If the pattern plays out as expected, PEPE could target a price of $0.000047, representing a 500% increase from its current levels.

However, investors should be aware of the risks associated with this trade. Crypto Patel advises setting a stop loss if the high timeframe (HTF) candle closes below the flag channel, as this would invalidate the bullish pattern.

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Show more +Show less – PEPE’s Impressive Growth and Potential Risks

PEPE has experienced growth of 1,650% over the past seven months. However, this rapid price appreciation also comes with heightened risks, particularly for those considering fresh investments.

The recent investment of $1.26 million by a smart money player in Pepe (PEPE) tokens, coupled with the identified bull flag pattern, suggests a potential opportunity for substantial gains.

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The post Pepe Coin Wallet Which Profited 6 Out of 7 Times, Makes Next Move as The Meme Coin Eyes 500% Upside Potential appeared first on CaptainAltcoin.

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