Could Pepe Coin Skyrocket? Whales Acquire 23 Trillion Tokens

Despite a 40% drop and instability since the October crash last year, large holders of the meme cryptocurrency, Pepe, have amassed 23 trillion tokens, indicating a significant shift in behaviour. The top 100 Pepe wallets began this accumulation during the broader market crash four months ago. On-chain analytics platform, Santiment, notes that this "smart money" activity often leads to major rallies when Bitcoin regains bullish momentum. However, current analysis paints a bearish picture, with Pepe trading below all major moving averages. The token's support level is identified as $0.0000031, with potential downside targets of $0.00000197 and $0.000000529. Other meme coins, such as Dogecoin and Shiba Inu, are experiencing a similar downturn.