Whales Can’t Save PEPE: Memecoin Dumps 3% as Sellers Crush Recovery Hopes

Another day, another memecoin getting tossed around like a degenerate's lottery ticket. PEPE—the frog-themed crypto that somehow still has a market cap—just got smacked with a 3% drop despite whales gobbling up tokens like free shrimp at a Wall Street happy hour.

Here's the ugly truth: No amount of 'accumulation' can outmuscle a market that's decided it's time to sell. The so-called 'bounce attempts' got steamrolled faster than a retail trader facing a 100x leverage position.

Funny how these 'strategic whale moves' always seem to coincide with bagholders looking for exit liquidity. Maybe the real utility token here is hopium.

Technical Analysis Overview

PEPE’s performance over the past 24 hours underscored the intensity of the market’s bearish tilt. The token dropped 3%, weighed down by relentless selling. Trading remained volatile, with prices swinging across a range of $0.00000980 and posting intraday volatility of nearly 8%.

Bulls briefly pushed prices to $0.00001268 at one point, but strong resistance emerged at the $0.00001267 level. From there, sellers steadily took control, driving prices to a session low of $0.00001169.

Though PEPE managed a modest rebound, climbing from $0.00001210 to as high as $0.00001217, momentum fizzled quickly. The coin settled NEAR $0.00001206, now acting as a resistance zone, suggesting the market remains in consolidation rather than reversing its slide.

Trading volumes soared beyond 3.47 trillion tokens, highlighting the scale of activity as traders reacted to shifting price levels. Until PEPE can hold above key resistance and absorb selling pressure, its trend appears locked in a bearish pattern.

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