Pepe Coin (PEPE) has experienced a significant downturn, with its price plummeting to around $0.000012, marking a 17% drop in the last 24 hours and a 28% decline over the past week. This downward spiral has brought PEPE to its lowest level since November 13, trading 54% below its December peak.
Key Factors Driving PEPE’s Decline
1. Whale Selloffs: Over 1.1 Trillion PEPE Dumped
Large investors ("whales") have offloaded 1.1 trillion PEPE tokens onto exchanges, creating oversupply pressure. Notable transactions include:
- 430B PEPE ($6.39M) deposited to Binance.
- 325.5B PEPE ($4.9M) moved to Binance.
- 200.88B PEPE sold for USDC.
These selloffs increased exchange supply by 1.31% (237.18T → 240.28T), signaling bearish sentiment among major holders.
👉 Why are whales dumping PEPE?
2. Technical Indicators Signal Further Decline
- Death Cross: The 50-day and 200-day moving averages hint at a bearish crossover.
- Support Levels: Immediate support at $0.00000782**, with risk of falling to **$0.0000060 (August 2024 levels).
- MACD & RSI: Both indicators show sustained downward momentum.
3. Declining Investor Confidence
Smart money holders reduced exposure:
- Count dropped from 91 (December) to 69.
- Holdings fell from 12T to 9.5T PEPE.
Potential Scenarios for PEPE
Bearish Outlook
- If $0.00000782** support breaks, PEPE could drop **56%** to **$0.0000060.
- Continued whale selloffs may prolong the downtrend.
Bullish Catalysts
- A Bitcoin rally or renewed meme-coin interest could revive PEPE.
- However, immediate recovery seems unlikely.
FAQs
Q: What caused PEPE’s recent crash?
A: Whale selloffs (1.1T PEPE dumped) and negative technical indicators.
Q: Is PEPE a good buy now?
A: High risk; wait for stabilization or bullish signals (e.g., whale accumulation).
Q: Could PEPE rebound like other meme coins?
A: Possible, but depends on broader crypto market sentiment.
👉 How to track whale activity in crypto?
Conclusion
PEPE’s price hinges on whale actions and market sentiment. Traders should monitor $0.00000782 as a critical support level. Until then, caution is advised.