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PEPE Ready to Break Out While Milady Whales Sit on $20 Million Profits

1 min
Updated by Michael Washburn
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In Brief

  • PEPE on the brink of a breakout, according to trader Crypto Tony.
  • Potential "Adam & Eve reversal pattern" signals bullish trend for PEPE.
  • Meanwhile, Milady whales enjoy $20 million-plus profits with ladys tokens.
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The resistance zone of PEPE appears to be on the verge of a potential change. Also, Milady whales are probably feeling pretty happy with their buys. Here is the state of the market.

PEPE, the memecoin of the month, may be about to break out of its resistance zone, according to one analyst. Pseudonymous trader Crypto Tony has identified a potential rally as market sentiment changes.

PEPE Fluctuates

The meme token has mostly been trading horizontally since the beginning of the week. But, the pseudonymous trader believes PEPE may begin to enter an “Adam & Eve reversal pattern.” The trend is a bullish chart pattern in technical analysis. It consists of two distinct parts, the “Adam” and the “Eve.”

The first is a quick, sharp decline (Adam) followed by a more gradual curved bottom (Eve), indicating a potential trend reversal from bearish to bullish.

PEPE began surging at the beginning of May, rising 348% over two days. However, the token has done relatively little since the weekend.

Currently, PEPE is approximately 61% down from its all-time high from 11 days ago.

Milady Whales Sitting Happy

Meanwhile, since its launch earlier this month, Milady (ladys), a memecoin inspired by the Milady NFT collection, has experienced a significant price surge.

The top 10 holders of ladys tokens, known as whales, have potential profits exceeding $20 million, holding over 176 trillion ladys coins, around 20% of the total supply, based on on-chain data.

With a weighted average purchase price of $0.0000000037604 per token and the current price at approximately $0.00000012, the whales have gained 3,091%, according to CoinGecko data.

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Josh Adams
Josh is a reporter at BeInCrypto. He first worked as a journalist over a decade ago, initially covering music before moving into politics and current affairs. Josh first owned Bitcoin in 2014 and has followed the space ever since. He is particularly interested in Web3 adoption, policy and regulation, CBDCs, privacy, and the future of the metaverse.
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