Whales Can’t Stop the Bleed: PEPE Drops 3% as Sell Pressure Crushes Recovery Hopes
Another day, another meme coin getting tossed around like a beach ball at a crypto conference. PEPE—the frog-themed token that somehow became a 'serious investment'—just took a 3% nosedive despite whales gobbling up supply like free conference swag.
Retail traders panic while big players accumulate? Color us shocked.
The sell walls hit harder than a bear market reality check. Every attempted bounce got smacked down faster than a 'wen lambo' tweet at a DevCon afterparty. Meanwhile, the so-called 'smart money' keeps stacking bags—because nothing says 'alpha' like catching falling knives.
Will PEPE leap back? Or is this just another reminder that in crypto, the house always wins—and the house wears a whale costume. Stay degenerate, folks.
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.
Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
