Pendle (PENDLE) appears bullish as whales seem to have began accumulating the asset, probably suggesting an incoming market surge. At the moment, March 11, 2025, a PEPE whale made a large acquisition of 607,863 PENDLE tokens, attracting crypto traders’ consideration. That’s in line with at this time’s knowledge reported by Onchain Lens.
PEPE whale gambles on PENDLE
Three days in the past, the whale spent 1,016.4 ETH price $1.86 million to buy 607,863 PENDLE tokens at a mean price of $3.0 for every coin.
Knowledge exhibits the whale has additionally bought 281.21 billion PEPE cash for 1,060.53 ETH to accumulate PENDLE tokens and is more likely to buy extra.
This important accumulation not solely helps PENDLE’s surging price, but in addition signifies that accumulation of PENDLE cash by crypto whales may very well be fuelling latest price will increase. Potential acquisitions by whales may develop buying frenzy amongst traders and merchants and additional assist price upward motion.
Pendle price updates
PENDLE has not too long ago displayed indications of a bullish motion, with its price surging by 16.5%, 25.4%, and 25.6% during the last seven days, two weeks in the past, and one month in the past, respectively. At the moment at press time, the asset is standing at $3.15, up 9.3% over the previous 24 hours. These inexperienced figures present that traders and merchants are displaying heightened curiosity in PENDLE, signifying a possible for a continued market rally.
Amid the rise in market participation, a number of on-chain indicators recommend that Pendle is gaining important consideration. As per metrics from Coinglass, Pendle’s Open Curiosity (IO) registered a 15.21% enhance over the day past. This surge in IO signifies that merchants are creating new positions within the PENDLE’s market.
Secondly, the asset is at present within the formation of a rising wedge sample on its day by day timeframe. Pendle shaped this sample after making a considerable breakout from a downtrend one month in the past. The token broke out from a greater than one-month declining motion on March 11, 2025. Since then, the asset has maintained an upturn pattern, recording a 69% rise from its latest down of $1.86, famous on March 11.
Up to now, the token has surpassed the numerous resistance area of $3.10, at present standing at $3.15. If its market rally continues, the asset might achieve energy to maneuver past the following essential resistance area of $3.20.
The latest robust uptrend motion, growing positions created by merchants, and bullish chart sample signify that PENDLE may very well be getting ready for a continued uptrend.
