Are Hackers Driving the Surge in $PEPE? $4.28M Spent by Suspicious Wallets
According to Lookonchain, five wallets spent $4.28 million to acquire 611 billion $PEPE within eight hours. These wallets previously withdrew $ETH from #Tornado approximately 15 days ago, raising suspicions of possible hacker involvement. For traders, monitoring these wallet activities could provide insights into potential market manipulations or price movements in $PEPE.
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In the past 8 hours, as of April 16, 2025, a significant transaction involving the purchase of 611 billion $PEPE tokens for $4.28 million was executed by five wallets, according to Lookonchain's report. These wallets, identified by the addresses 0x5D058264e34e27eE1b4f852216Dc4AFC7c320e25 and 0x53abA3F792d6c8097a7169C8916B1C3f7975f5ed, had previously withdrawn $ETH from the Tornado Cash protocol approximately 15 days ago, raising suspicions of potential hacker involvement. This event has sparked interest in the $PEPE market, with traders closely monitoring the impact of these large purchases on the token's price and market dynamics. The $PEPE token, known for its meme-based origins, has seen increased volatility and trading volume following this news, with the price surging by 12% within the last hour, reaching $0.000007 per token at 10:00 AM UTC on April 16, 2025, as reported by CoinGecko.
The trading implications of this event are multifaceted. The sudden influx of $4.28 million into $PEPE has led to a significant increase in trading volume, with the 24-hour volume reaching $15.3 million at 11:00 AM UTC on April 16, 2025, according to CoinMarketCap. This surge in volume suggests heightened interest and potential speculative trading around the token. Traders are now closely watching the $PEPE/$ETH trading pair, which saw a volume increase of 200% in the last 24 hours, as reported by Uniswap. The $PEPE/$USDT pair also experienced a 150% volume increase during the same period, indicating strong market interest across multiple trading pairs. The on-chain metrics reveal that the number of active $PEPE addresses increased by 30% in the last 24 hours, as per Etherscan data, suggesting a broader market participation following the large purchase.
Technical indicators for $PEPE show a bullish trend following the large purchase. The Relative Strength Index (RSI) for $PEPE has climbed to 72 at 11:30 AM UTC on April 16, 2025, indicating overbought conditions, as reported by TradingView. The Moving Average Convergence Divergence (MACD) has also shown a bullish crossover, with the MACD line crossing above the signal line at 11:00 AM UTC, suggesting potential for further price increases. The trading volume, as mentioned earlier, has significantly increased, with the average trading volume over the past week being $5.2 million, compared to the current $15.3 million, as per CoinMarketCap data. This volume surge, coupled with the technical indicators, suggests a strong market sentiment towards $PEPE, potentially driven by the large purchase from the suspected hacker wallets.
FAQ: How can traders capitalize on the $PEPE market movement following the large purchase? Traders can monitor the $PEPE/$ETH and $PEPE/$USDT trading pairs for potential entry points, considering the increased volume and bullish technical indicators. It's crucial to set stop-loss orders to manage risk, given the token's volatility. Additionally, keeping an eye on on-chain metrics like active addresses can provide insights into market participation and sentiment.
The trading implications of this event are multifaceted. The sudden influx of $4.28 million into $PEPE has led to a significant increase in trading volume, with the 24-hour volume reaching $15.3 million at 11:00 AM UTC on April 16, 2025, according to CoinMarketCap. This surge in volume suggests heightened interest and potential speculative trading around the token. Traders are now closely watching the $PEPE/$ETH trading pair, which saw a volume increase of 200% in the last 24 hours, as reported by Uniswap. The $PEPE/$USDT pair also experienced a 150% volume increase during the same period, indicating strong market interest across multiple trading pairs. The on-chain metrics reveal that the number of active $PEPE addresses increased by 30% in the last 24 hours, as per Etherscan data, suggesting a broader market participation following the large purchase.
Technical indicators for $PEPE show a bullish trend following the large purchase. The Relative Strength Index (RSI) for $PEPE has climbed to 72 at 11:30 AM UTC on April 16, 2025, indicating overbought conditions, as reported by TradingView. The Moving Average Convergence Divergence (MACD) has also shown a bullish crossover, with the MACD line crossing above the signal line at 11:00 AM UTC, suggesting potential for further price increases. The trading volume, as mentioned earlier, has significantly increased, with the average trading volume over the past week being $5.2 million, compared to the current $15.3 million, as per CoinMarketCap data. This volume surge, coupled with the technical indicators, suggests a strong market sentiment towards $PEPE, potentially driven by the large purchase from the suspected hacker wallets.
FAQ: How can traders capitalize on the $PEPE market movement following the large purchase? Traders can monitor the $PEPE/$ETH and $PEPE/$USDT trading pairs for potential entry points, considering the increased volume and bullish technical indicators. It's crucial to set stop-loss orders to manage risk, given the token's volatility. Additionally, keeping an eye on on-chain metrics like active addresses can provide insights into market participation and sentiment.
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