Five wallets suspected of having hacker affiliations have recently invested $4.28 million in Pepe tokens, showcasing the meme coin’s appeal by following its 25% increase in value late last week to $0.0000077. This positions Pepe as a leading alternative cryptocurrency. The return of risk-on sentiment, signaledothed by Trump’s 90-day halt on tariffs, haspped meme coins for an influx of new retail investments, suggesting these purchases might be strategic bets on the coin’s recovery. Despite the rally, Pepe’s value remains 70% below its peak before the tariff stand-off two months prior, hinting it might be at a turning point for investors looking for promising digital currencies.
### Are Suspicious Buyers Targeting Pepe?
Blockchain analysis group Lookonchain highlighted a significant $4.28 million acquisition of Pepe tokens on April 17, hinting at unusual wallet activities. This comes after the wallets previously pulled Ethereum from Tornado Cash, a mixer service that’s commonly used by cybercriminals to conceal the origins of illicitly obtained assets.
### Pepe’s Market Movement: A Calculated Bet by Cybercriminals?
Following a key technical turnaround marked by an escape from a descending wedge that directed its 4-month downturn, Pepe tokens show signs of a potential surge in value. If the current buying momentum persists, the token is set for a potential leap towards $0.00002, marking an impressive 168% gain from its present rate. However, before any significant rise, it may test its February peak of $0.00001, suggesting a 40% increase from the current value. Indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) illustrate a mixed yet optimistic scenario, hinting at sustained upward movement despite encountering resistance at the 20-day Simple Moving Average (SMA).
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