PEPE News: Potential 20% Crash Looms as Whales Sell Off

Pepe’s price continues to decline, trading around $0.000012, with a 10% drop on Monday following a 12% correction the previous week. Technical indicators suggest further weakness, projecting a potential 20% crash. Memecoin whales are reportedly selling off, adding to the bearish sentiment.

Pepe Price Forecast: PEPE Eyes for 20% Crash

Pepe’s price has continued its decline, trading around $0.000012 and dipping nearly 10% at the time of writing on Monday after correcting more than 12% the previous week. The long-to-short ratio for PEPE is below one, indicating that more traders are betting on the frog-based meme coin to fall. Technical analysis suggests further correction as momentum indicators show signs of weakness, projecting a potential 20% crash ahead.

Memecoin Whales Sell-Off Massive $PEPE Holdings

In recent hours, several major $PEPE token holders, commonly referred to as whales, have sold off large portions of their holdings. Data from Lookonchain confirms that numerous transactions involving billions of $PEPE tokens have taken place recently. Notably, one whale identified as 0xfBfC…07Be deposited 430 billion $PEPE tokens, worth approximately $6.39 million, to Binance about nine hours ago. Another whale, marketparticipant.eth, moved 325.5 billion $PEPE tokens, valued at $4.9 million, to Binance within the last 24 hours. Additionally, a third whale, 0xb1a2…6731, sold 200.88 billion $PEPE tokens for 2.85 million $USDC over the past 48 hours. These significant sell-offs indicate a potential shift in market sentiment among large holders of the $PEPE token.

PEPE whale dumps 430B coins – Is this the end for the memecoin?

A significant event has occurred in the cryptocurrency market involving the memecoin PEPE. A whale has dumped 430 billion PEPE coins, equivalent to $6.39 million, resulting in a 14.14% drop in PEPE's market value within 24 hours. This sell-off happened as PEPE traded at $0.0000133, which is 48% below its post-election peak. The action has sparked discussions on whether this marks the beginning of the end for PEPE, especially considering the volatile nature of memecoins that often attract investors looking for quick gains. The strategy of accumulating and distributing these coins is crucial and varies significantly between bullish and bearish markets.