Will Pepe Coin Price Drop Further Amid Whales Sell-offs?

Key Insights:

• Whales sold over 1.1 trillion PEPE, driving a 15.9% price drop to $0.00001253.
• Bearish Indicators signal potential retest of $0.000010 support Level.
• Analysts see rebound potential if Ethereum surpasses $4,000, citing historical trends.

Pepe Coin (PEPE) has been hit hard by selling pressure recently, with whales unloading over 1.1 trillion tokens.

This massive sell-off has caused a sharp price drop, leaving PEPE trading around $0.000012 as of Monday—down 17% in just 24 hours. The steep decline has raised fears of even deeper losses ahead.

Whales Offload Over 1.1 Trillion Pepe Coin

Whale investors have unloaded large volumes of PEPE, significantly impacting its market price. Recent on-chain data revealed several substantial transactions.

A wallet address, 0xfBfC…07Be, deposited 430 billion PEPE, valued at $6.39 Million, into Binance within nine hours. Another whale, marketparticipant.eth, transferred 325.5 billion PEPE ($4.9 Million) to Binance 24 hours prior.

In addition, a wallet labeled 0xb1a2…6731 liquidated 200.88 billion PEPE for $2.85 Million in USDC over two days.

Shortly after, 0xC7ac…BE36 deposited 140.83 billion PEPE ($1.98 Million) into Binance. These transactions collectively introduced over a trillion tokens into the trading ecosystem, creating immense selling pressure.

Bearish Signals Hint at More Losses for PEPE

Pepe Coin price has dropped below its 200-day Exponential Moving Average (EMA) at $0.000014, now trading around $0.000012.

The token’s 30% decline since January 18 follows rejection at a descending trendline, raising alarms about further losses.

A daily close below $0.000013 could pave the way for a deeper fall, with the price likely retesting its November 8 low of $0.000010—another 20% drop from current levels.

The Relative Strength Index (RSI) on the daily chart sits at 31, showing that PEPE is not yet oversold and still has room to slide lower.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator has issued a sell signal, with red histogram bars increasing in size below the zero line.

According to Coinglass, PEPE’s long-to-short ratio has dipped to around 0.72—its lowest reading in over a month—adding to the bearish sentiment. This indicates that more traders are betting on price declines.

Daredevil Bulls: Some Analysts Still Eye a Rebound

Broader crypto-market conditions have not helped. Bitcoin recently fell below $100,000, and other major cryptocurrencies are in the red, reflecting a phase of overall market bloodbath.

Ethereum-focused trader @Proroketh sees PEPE’s fate tied to Ethereum. The trader pointed out that every time Ethereum approached $4,000 over the past year, PEPE followed with local highs.

If Ethereum breaks past $4,000 again, the trader believes PEPE could see a similar rally, calling it a “leveraged ETH play” for its amplified movements.

Crypto analyst @EL__MAG0 also dismissed claims that PEPE is “dead.” They noted similar pessimism in early 2024, just before the token surged 11x, and another rally later that year at 3x. According to the analyst, PEPE’s history shows it often rebounds when most traders lose faith.

PEPE price faces mounting pressure as whale sell-offs and bearish indicators dominate. While historical resilience offers hope, immediate risks of further declines remain.