Whales Gobble PEPE as Price Dips 6%—Will Memecoin Bounce Back Amid Market Chaos?

PEPE takes a 6% nosedive as crypto whales pile in—classic 'buy the dip' or dead cat bounce?

Technicals flash green despite market jitters. RSI hovering near oversold, whale wallets swelling—signs point to a potential rebound. But let's be real: in memecoin land, 'fundamentals' mean which influencer tweeted a frog emoji last.

Pro traders are watching two key levels: if PEPE holds support here, we could see a 15-20% pump as leverage traders pile in. Break below? Enjoy your trip to 'rekt' city.

Meanwhile, Bitcoin's sideways action leaves altcoins vulnerable. Perfect storm for PEPE's volatility—just how degens like it.

Final thought: Nothing screams 'healthy market' like a frog-themed token swinging 30% on whale whims and Elon Musk's coffee habits.

Technical Analysis Overview

PEPE has struggled to hold gains after testing resistance near $0.0000106, encountering firm selling pressure that pushed the price lower.

The coin found support around $0.00000965, keeping it from sliding further, though the overall trading range reflects persistent volatility, according to CoinDesk Research's technical analysis data model.

Charts show a descending channel shaping the recent price action, with sellers stepping in on upward moves. Trading volumes reveal a pattern of distribution during price spikes, hinting that traders are offloading positions rather than building fresh longs.

However, brief rebounds and surges in buying interest suggest the memecoin isn’t out of the fight. A burst of volume helped lift prices modestly from recent lows, signaling that some traders still see room for a bounce if broader market sentiment improves.