Pepe Coin (PEPE) Plunges Below $0.0066 as Massive Selloff Intensifies
Meme Token Meltdown: PEPE Investors Rush for Exits
The Great Un-ribbiting
Pepe Coin holders are discovering that what goes up must come down—especially when your investment thesis relies on cartoon frogs. The digital asset shed another 15% overnight, crashing through the $0.0066 support level that traders had been watching like hawks.
Whales are dumping positions faster than you can say 'feels good man,' with sell orders flooding exchanges across multiple time zones. Trading volume spiked 200% as panic set in, creating the kind of market chaos that makes traditional finance guys smirk into their martinis.
Technical indicators are flashing red across the board, with the RSI dipping into oversold territory and moving averages pointing straight to frog purgatory. The once-bullish chart patterns now resemble a cliff dive—no safety net in sight.
Remember when everyone thought meme coins were the future? Turns out the future has a wicked sense of humor and zero sentimentality about your portfolio.
- Pepe Coin lowered 2.3% to $0.056735, a $2.86 billion market cap, and $790.84 million trading volume.
- Crypto TXG recorded PEPE fall against $0.0087, closing around $0.00666, and must remain above $0.0057.
- A whale investor spent $4.97 million acquiring 600.88 billion PEPE tokens, signaling potential accumulation amid market uncertainty.
Pepe Coin (PEPE) is facing renewed market pressure as whale activity intensifies and price levels weaken. Pepe is trading at near $0.056 with a $2.86 billion market cap. Analysts caution that a breakdown of key support levels may prolong the token’s current correction.
Pepe faced a mild setback today, dropping 2.3% to $0.056735 despite strong market activity. The market cap of the token stands at $2.86 billion, indicating stable support from investors. Of particular interest is that 24-hour trading volume surged 59.76% to $790.84 million, signifying increased short-term price fluctuations.
Pepe Coin Price Crashes as Key Support Breaks
In a recent post by crypto TXG, Pepe saw a dramatic fall following a loss of its key support at $0.0087, dropping down to $0.002805 amidst the larger decline in the crypto market. Token closed around $0.00666, and analysts have been emphasizing holding above $0.0057.
Per Crypto TXG, Pepe’s move of price move might require a few days to become steady before any definite trend is perceptible. It seems that investors are still skeptical and closely monitoring the next steps, waiting for either a phase of consolidation or revival in the NEAR future.
Whale Sell-Offs Trigger PEPE Price Weakness
Among the notable buyers, Onchain Lens identified one large investor who spent $4.97 million to purchase 600.88 billion PEPE tokens. Conveniently, this wallet is still sitting on about $1 million, indicating the investor is possibly scheduling another accumulation anytime.
A whale has spent $4.97M $USDT to buy 600.88B $PEPE, 8 hours ago. The wallet still holds $1M $USDC likely to buy further.
Addresses:
Buying: 0x2bfb1970161268fce2f02fd48f4d148b9e58a17e
Holding: 0xddf7336bfb3e3eea0595677ee8c62603bde39bc2
Data @nansen_ai pic.twitter.com/rW1kdSi27Y
However, despite this massive buy, Pepe’s overall Balance Change showed a negative $2.42 million, meaning that whales sold more than they bought. This is typically perceived as a bearish sign, indicating that the belief among institutional investors is fading.
In the past, whenever the investors have started liquidating their holdings, this has been followed by further depreciation due to increased pressure resulting from sales. The next few days could determine whether PEPE finds solid support or extends its current downward movement.
