PEPE Plunges 6% as Market Tanks—But Whales Are Gobbling Up the Dip
PEPE takes a hit as crypto markets bleed—yet big players see opportunity in the chaos.
Whale Watch: Deep Pockets Dive In
While retail panics, crypto’s heavy hitters are loading up. Sounds familiar, right? Just another day where the little guy sells low and the whales buy lower.
Market Mechanics: Red Across the Board
It’s not just PEPE feeling the pain—the broader market’s drowning in red. A 6% drop might sting, but for accumulators, it’s a discount buffet.
Finance’s Fine Print: Same Game, Different Asset
Whether it’s stocks or memecoins, the playbook never changes: scare the weak hands, reward the patient. Maybe one day regulators will notice—or not, they’re probably busy shorting something.
Technical Analysis Overview
PEPE’s price action pointed to a market in retreat, according to CoinDesk Research's technical analysis data model. The token dropped from $0.000011484 to $0.000010782, with sellers dominating the chart.
Price peaked at $0.000011732 during a resistance test, but volume swelled to 5.5 trillion tokens at that level, before the market ultimately turned lower.
Support showed signs of buckling during the next phase, with the token brushing against $0.000010746. Trading activity intensified again, hitting 7.7 trillion tokens and reinforcing bearish sentiment.
The cryptocurrency’s price whipsawed within a 9% intraday range, a sign that traders remain unsure whether support levels are going to hold.
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.
