Pepe

PEPE

The recent liquidation heatmap for Pepe Coin’s USDT pair on Binance indicated a precarious situation for leveraged traders. 
As the chart revealed, over $2 Million worth of PEPE/USDT leveraged orders were on the brink of liquidation if the price rose to $0.0000222. 
The heatmap delineated multiple price levels where substantial liquidation risks were clustered. The heatmap demonstrates the volatile nature of high-leverage trading in the cryptocurrency market. 
This trading pattern underlined the risks associated with significant price fluctuations. Notably, even minor market movements could trigger substantial liquidations, exacerbating volatility. 
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 PEPE/USDT Liquidation Heatmap | Source: Coinglass
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The concentration of potential liquidations at various price points suggested a layered defense strategy by traders, each prepared to cut losses at different stages of decline. 
Traders and investors should remain vigilant about these critical price levels, which could trigger cascading price drops if liquidations commence. 
This scenario underscores the need for cautious leverage use in a market that is highly unpredictable and subject to rapid price changes. 
<h2 class="wp-block-heading" id="h-pepe-coin-s-breakout-above-trendline-resistance">PEPE Coin’s Breakout above Trendline Resistance</h2> 
PEPE showed a potential shift in momentum from its prior bearish descent, identified by a descending triangle pattern, typically bearish, on the PEPE/USDT trading pair. 
However, a recent breakout above the triangle’s descending trendline sparked interest in a potential bullish reversal. 
This shift occurred as the price action breached the trendline, accompanied by an increase in trading volume, signaling stronger buyer engagement. 
Holding above the $0.00002051 resistance level could further invalidate the bearish pattern. It would also set PEPE coin up for potential gains. 
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 PEPE/USDT 2-hour chart | Source: Trading View
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If the momentum is maintained, the price could challenge subsequent resistance levels at $0.00002200 and beyond. 
The emergence from the descending triangle pattern, combined with significant liquidation points near these levels, suggested that PEPE might be on the cusp of more pronounced price movements. 
Market participants watching for sustained volume increases as a confirmation of ongoing interest, which could drive PEPE towards these higher targets in the short term. 
Such movements are critical as they may trigger a cascade of buy orders if resistance levels are decisively breached. 
<h2 class="wp-block-heading" id="h-pepe-whales-accumulation-surge">Pepe Whales’ Accumulation Surge</h2> 
Over $2 Million worth of leveraged Pepe orders could be in jeopardy. Subsequently, potential liquidations are looming if the price rises to $0.0000222. 
Despite the threat, Pepe coin showed bullish signs. A notable breakout above a key trendline resistance could suggest a forthcoming rally, stirring interest among traders and market watchers. 
Recent trading activities have spotlighted the influence of <a href="https://www.thecoinrepublic.com/2024/11/18/whales-cashing-out-pepe-pepe-price-correction-coming/">whales</a> in the Pepe market. 
A substantial accumulation by whale wallets was documented. One instance included a newly created wallet that acquired a staggering 309.6 billion Pepe. This wallet acquired PEPE amounting to about $6.45 Million at an average price of $0.00002082 from KuCoin. 
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 Source: X
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This significant activity indicated the potential for sudden market movements due to these large trades. 
This accumulation was part of a broader pattern where influential market players are speculated to be gearing up for a bullish phase for PEPE coin. 
If the price sustains above the trendline, bolstered by increasing volume, it could drive Pepe to test higher resistance levels. That would nullify the bearish setup typically anticipated from a descending triangle. 
The market is now closely monitoring these developments, with a keen eye on how whale actions might align with technical forecasts to drive Pepe coin’s price trajectory in the near term 
The post <a href="https://www.thecoinrepublic.com/2024/11/24/pepe-coin-can-whales-influence-liquidations/">PEPE Coin: Can Whales Influence Liquidations?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

PEPE Coin: Can Whales Influence Liquidations?

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