Despite the Massive $15 Million Sale by Robinhood, the Outlook for PEPE Coin (PEPE) Remains Strong

In the past 24 hours, a wallet associated with US crypto exchange Robinhood has recorded a significant liquidity outflow. The entity sold approximately $15 million of PEPE Coin (PEPE) into the market.

A recent liquidity outflow from a wallet linked to US crypto exchange, Robinhood, saw the exchange offload around $15 million of PEPE Coin (PEPE) in the past 24 hours.

While large-scale traders usually follow a large sell with a buyback within the same time period, no such purchase was seen from Robinhood’s wallet. Despite this, the exchange remains the second-largest holder of PEPE Coin (PEPE), controlling 3.67% of the token’s total supply, which is valued at $209.9 million.

Despite the massive sell-off, the price of PEPE Coin (PEPE) has remained stable, and market analysis suggests that the token could continue to rise in the coming days.

Short and Long Term Bullish Analysis

Analysis from AMBCrypto shows that this asset remains bullish in both the short and long term. Short-term analysis using a 4-hour chart shows that PEPE Coin (PEPE) has been trading in a symmetrical triangle pattern, which is characterized by converging support and resistance levels.

This bullish formation could push PEPE Coin (PEPE) up by 12.24%, potentially reaching $0.00001541. In a broader view using the 1-day chart, PEPE Coin (PEPE) is trading in a cup and handle pattern. If this pattern continues, PEPE Coin (PEPE) could rally by 91% to $0.00002836, a level last seen in December 2024.

Market Momentum Rising?

Currently, momentum seems to be building in both the spot and derivatives markets. In the spot market, buying interest has gradually increased again, with $335,000 worth of PEPE Coin (PEPE) purchases so far. In the derivatives market, the OI offset funding rate stands at 0.0127%, confirming the presence of bullish sentiment.

If momentum continues to increase in both market segments, PEPE Coin (PEPE) could see a significant rally. In doing so, PEPE Coin (PEPE) could reach its short-term targets and get closer to its long-term goals.

Conclusion: PEPE Coin (PEPE) Outlook Remains Strong

Despite facing challenges from the massive sell-off by Robinhood, PEPE Coin (PEPE) is showing remarkable resilience. With technical analysis supporting price increases and growing market momentum, PEPE Coin (PEPE) has all the reasons to remain optimistic. Investors and market watchers should continue to monitor these indicators to make informed investment decisions.