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Vitalik Buterin, Ethereum's co-founder, has acquired 508.6 million $PEPE tokens, valued at $10.5K, according to blockchain data. This unexpected move has sparked speculation about its impact on the meme coin's price, with some investors viewing it as a potential endorsement. However, for PEPE to reach $1, significant market demand is required due to its large circulating supply.
Currently trading at $0.00001625, PEPE has declined 5% in 24 hours, facing resistance at $0.00002000 and testing the $0.00001500 support zone. Technical indicators show consolidation, with RSI at 39 signaling bearish momentum. While the MACD suggests caution, a rebound from $0.00001500 could push the price to $0.00002000 or higher. A breakdown below this level, however, might see PEPE dropping toward $0.00001000.
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