PEPE Holds Strong as Robinhood Sells $15M Worth
Key Takeaways
- Robinhood has sold PEPE tokens worth 15 million USD.
- Despite the sale, PEPE remains stable and shows bullish signals.
- Technical analysis suggests potential price increases of up to 91%.
- Both spot and derivatives markets show increasing buying momentum.
Robinhood Sells PEPE – Market Remains Stable
A wallet linked to the U.S. crypto platform Robinhood has offloaded approximately 15 million USD worth of PEPE onto the market in the past 24 hours. Such sales by large market players – known as “whales” – often put downward pressure on prices. Typically, a buyback follows such a sell-off. However, that did not happen in this case.
Nonetheless, Robinhood still holds 3.67% of the total PEPE supply, equivalent to approximately 209.9 million USD. Notably, PEPE’s price remained largely unaffected after the sale – a sign of market strength.
Technical Analysis: Bullish Patterns Emerging
In the short term, PEPE is forming a symmetrical triangle on the 4-hour chart – a classic technical pattern that often signals an upcoming price move. If PEPE breaks out to the upside, a 12.24% increase is possible. The price target would then be around 0.00001541 USD.
From a long-term perspective, the daily chart reveals another bullish pattern: the so-called “cup-and-handle” formation. This suggests a potential price rally if resistance at 0.00001483 USD is broken. If successful, PEPE could rise to as high as 0.00002836 USD – a level last seen in December 2024.
Market Momentum Is Increasing
Both the spot and derivatives markets are showing growing momentum. In the spot market, PEPE tokens worth 335,000 USD were recently purchased – a sign of increasing interest.
The sentiment in the derivatives market is also positive. The open interest (OI)-weighted funding rate currently stands at 0.0127%. This figure indicates that leveraged long positions (buying with leverage) dominate – another indicator of bullish expectations.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 2 minutes
-
Crash Games in Online Casinos: A Review of Games and Providers
Reading time: ~ 2 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 2 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 2 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 2 minutes
Our Assessment
Despite the selling pressure from Robinhood, PEPE remains resilient. The price stability combined with positive technical patterns points to a potential continuation of the upward trend. Short-term price targets are realistically achievable if market interest continues. In the long term, much will depend on whether the resistance at 0.00001483 USD is broken.
For investors or observers of the crypto market, it’s worth keeping an eye on PEPE – especially if you rely on technical analysis and monitor market sentiment.
Sources
- Arkham
- TradingView
- Coinglass
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency