- Whales sold more than one trillion pepe coins.
- Technical indicators indicate the possibility of further reduction.
- Immediately support is $ 0.00000782, and there is a risk of $ 0.0000060.
PEPE Coin (PEPE) is a downward spiral, and the price has plunged to about $ 0.000012, down 17% over the last 24 hours and reduced 28% over the past week.
This sharp stagnation has been raised to the lowest level since November 13, and the coin has been traded up to 54% in December.
Whales were sold beyond 1.1t pep coins
The main catalyst of this price conflict seems to be a significant selling seller of large investors who are also called “whales”.
The investors have moved 1 trillion pEPE tokens to exchange for a very short period of time and have made oversupply in the market.
Many whales have recently sold the whole $ PEPE landlord.
0xFBFC… 07 be sediment 430b $ PEPE($ 6.39m) #Binance 9 hours ago.
MarketParticipant.eth Deposit 325.5b $ PEPE($ 4.9m) #Binance 24 hours ago.
0xb1a2… 6731 sold 200.88B $ PEPE 2.85m $ USDC In 48 years… pic.twitter.com/ojljpeubtv
-LOOKONCHAIN (@Lookonchain) January 27, 2025
This movement not only increased the PEPE supply on the exchange to 1.31% (237.1 trillion to 240.28 trillion, but also increased market instability by suggesting a weak outlook among major holders.
Technical analysis refers to a weaker feeling
The technical analysis of PEPE Price is full of potential reduction signals.
- Formation of death: The convergence of the 200 and 50 -day weight moving average is implied on the death cross, which will firmly feel weak.
- Support and resistance levelThe PEPE is currently traded within the range established in April 2024, with a boundary between $ 0.00000633 and $ 0.00001461. The immediate level of support to watch is about $ 0.00000782 and additional support for $ 0.0000060, the last level in August.
- MACD and RSIThe MACD and the relative strength index (RSI) continue to decline, which suggests that the sales pressure may continue to push the price closer to the level of support.
Will the PEPE price rebound soon?
After deep, the market sentiment around PEPE has changed significantly, and smart money investors have greatly reduced their exposure. The number of smart money holders decreased from December 91 to 69, and the stake fell to almost 12 trillion to 9.5 trillion pepe tokens.
This sale by information and large -scale investors signals that there is a lack of trust in the short -term recovery of PEPE.
Given the current whale activities, technology patterns and reduction in investor trust, PEPE COIN has been able to see additional prices. If the support of $ 0.00000782 is not maintained, the decrease in $ 0.0000060 or less than $ 0.0000060 will be plausible, showing a 56% reduction at the current level.
However, the current scenario looks dark, but it is likely to rebound in the volatile cryptographic market. Factors such as Bitcoin (BTC) due to new interest in advanced economic policies or memes coins can provide PEPE with life line.
But in this series, these scenarios appear to be on the horizon, not immediate solutions.