Pendle Token Shows Resilience Despite Minor Decline, Bullish Momentum Continues

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Despite a slight dip of 2.5% in the past 24 hours, Pendle token remains resilient and continues to exhibit bullish behavior across various timeframes. 

Over the past 7 days, Pendle has surged by 30%, followed by impressive gains of 122% in the last 30 days and a remarkable 282% over the past 90 days.

Currently trading at $6.67, Pendle appears poised for another upward movement, especially after finding support at $6.4. Analysts suggest that if Bitcoin maintains its bullish momentum, Pendle could potentially target $9.7 in the near future.

Notable Whale Accumulation Of Pendle Tokens As Whales Look Onto Long-term Plans 

Adding to the optimism surrounding Pendle, data from Lookonchain indicates ongoing accumulation by whales. Wallet address 0xe675 recently withdrew 295,443 Pendle tokens valued at $1.95 million from Binance just three hours ago, in addition to withdrawing 372,752 Pendle tokens ($2.46 million) three days prior. 

Whales continue to accumulate $PENDLE!

0xe675 withdrew 295,443 $PENDLE($1.95M) from #Binance 3 hours ago and 372,752 $PENDLE ($2.46M) from #Binance 3 days ago.

0xAa4c withdrew 115,500 $PENDLE($764K) from #Binance 30 mins ago and 384,500 $PENDLE($2.54M) from #Binance 4 days ago.… pic.twitter.com/w1MZTUHSZp

— Lookonchain (@lookonchain) April 10, 2024

Similarly, wallet address 0xAa4c withdrew 115,500 Pendle tokens ($764K) from Binance just 30 minutes ago, following a withdrawal of 384,500 Pendle tokens ($2.54 million) four days ago.

This continued accumulation activity by whales suggests confidence in Pendle’s future potential and strengthens the bullish sentiment surrounding the token.

In summary, despite a minor setback in the past 24 hours, Pendle token remains on a bullish trajectory, supported by its impressive performance across various timeframes and ongoing accumulation by whales. With the potential for further upside movement, investors are closely monitoring Pendle’s next moves in the market. 

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: traviswolfe/123RF // Image Effects by Colorcinch

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