Plummeting PEPE Prices: Massive Sell-Off or Investment Chance for Whales?
The PEPE meme-inspired cryptocurrency has experienced a 9% drop over the past 24 hours, currently trading at $0.00001 at press time. Despite this downturn, the 24-hour trading volume stands at $817,709,519.
Nansen data reveals a 3% increase in whale holdings, while exchange balances have decreased by 2%. This trend suggests that whales are accumulating more PEPE tokens, potentially reducing near-term selling pressure.
Over the past week, PEPE has seen a 13% decline in value. If it continues to stay below $0.0000118, the downtrend could extend towards $0.0000097, which is the next major support area.
Technically, PEPE is trading within a symmetrical triangle on the daily chart, testing the $0.0000108 - $0.0000115 support zone. The market has been printing lower highs and facing repeated selling, which could indicate a potential upcoming breakout from this pattern. However, the direction of the breakout depends heavily on market sentiment and volume.
The Relative Strength Index (RSI) for PEPE is currently near 27, indicating strong selling momentum and the potential for a short-term bounce. A sustained move above 30 on the RSI would suggest that buyers are stepping in.
On the 4-hour chart, Bollinger Bands are widening for PEPE, reflecting strong selling pressure and increased volatility. This suggests that the market remains short-term weak despite the increase in whale holdings and decrease in exchange balances.
Analysts are divided on PEPE's outlook. While some caution that the cryptocurrency lacks strong fundamentals or utility compared to emerging utility-focused tokens, others point to community loyalty, historical surges triggered by major exchange listings, and potential upcoming catalysts such as a PEPE ETF that could foster a new buying wave.
Crypto analyst Ali Martinez suggests that for PEPE to avoid a potential drop to $0.0000097, it must reclaim $0.0000118 as support. Current market predictions for PEPE in 2025 indicate a cautiously optimistic outlook, with potential price ranges roughly between $0.000005 and $0.000035. These forecasts are supported by technical analysis as well as whale activity but remain tempered by PEPE’s nature as a meme coin with limited intrinsic utility.
- Investors may be drawn to Ethereum's blockchain and its native cryptocurrency for finance-related activities, given the continued growth in the market's crypto trading volume.
- In light of PEPE's ongoing downtrend, some investors are looking toward Ethereum as a potentially safer investment for short-term gains, as its utility offers a more stable foundation compared to meme coins like PEPE.
- As analysts remain divided on the outlook for meme coins like PEPE, many are turning to decentralized finance (DeFi) opportunities on the Ethereum blockchain for long-term investing, seeking projects with stronger fundamentals and utility.
