The crypto market witnessed a renewed bullish momentum as Bitcoin rebounded above $95,000 level. As investors anticipate a $100k BTC value soon, Shiba Inu and Pepe coin are experiencing substantial whale buying, signaling their potential for price recovery. These memecoins often offer major moves during fresh market changes due to their volatile nature.
Key Highlights:
- Lookonchain data shows crypto whale accumulated top memecoins such as Shiba Inu and PEPE before BTC gives a $100k Breakout.
- The Shiba Inu price is a 9% surge from challenging the key resistance of the bullish pennant pattern.
- Flag pattern formation sets Pepe coin price breakout past $0.00003 barrier.
Major Memecoins Gain Momentum After $4.46M Whale Withdrawals
A newly created cryptocurrency wallet has made significant withdrawals, pulling 60 billion SHIB tokens worth $1.52 million and 150 billion PEPE tokens valued at $2.94 million from Binance just an hour ago.
This substantial move highlights growing whale activity around these popular memecoins, sparking curiosity about the rebound as the market anticipates $100k BTC soon. The activity has been traced to wallet address 0xe718…, as reported by Lookonchain.
According to Coingecko data, the meme cryptocurrency market cap is at $123. Billion, showing an intraday gain of 2.5%. Moreover, the 24-hour trading volume wavers at $23.5 Billion.
A newly created wallet withdrew 60B $SHIB($1.52M) and 150B $PEPE($2.94M) from #Binance 1 hour ago.https://t.co/bsWy1WtPUh pic.twitter.com/nzm6WARUNk
— Lookonchain (@lookonchain) November 28, 2024
Shiba Inu Consolidation Ahead of a Major Breakout
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Among the dog-themed memecoins, the popular Shiba Inu coin has showcased a sideways action below $0.00003 over the last two weeks. In the 4-hour chart, this consolidation is recounting strictly within two converging trendlines revealing the formation of a bullish pattern.
This continuation pattern is commonly spotted in an established uptrend, offering a temporary breather to buyers before the prevailing trend resumes. The SHIB price currently trades at $0.000025 with a market cap of $14.8 Billion.
A potential breakout from the overhead trendline will accelerate the bullish momentum and drive another 40% rally to hit $0.000037.
PEPE Price Eyes 75% Surge Amid Bullish Flag Pattern
The frog-themed memecoin PEPE recorded a notable correction from $0.000025 to $0.000019— a 25% decrease— in the last two weeks. Similar to the SHIB price, the Pepe coin developed a bullish continuation pattern called ‘Flag’.
As most major memecoins regain bullish momentum with Bitcoin rebound, the PEPE price stands a 1.5% surge away from challenging the flag key resistance trendline.
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A successful flip of the overhead trendline into potential support could propel the asset 75% up to hit $0.000035.
