- PEPE fell 11% after a whale moved 502.5B tokens to Binance.
- Market cap dropped $650M, hitting key support zones.
- Whale profited $7.47M last month, sparking sell-off fears.
PEPE has once more gained attention from investors, after a recent surge in whale activity caused its price to plummet by 11% within a day. Because of this, the market capitalization sank by about $650 million and the price declined to roughly $0.00001128. A significant whale move to Binance brought a major change in sentiment, as traders became alarmed about the token during its continuing drop.
According to on-chain analysis, the whale involved was address 0x3c9E which moved 502.5 billion PEPE tokens, equivalent to $6.47 million, to Binance. With the huge deposit, the address still holds 497.5 billion PEPE tokens which is approximately $6.41 million. Most impressively, the whale supposedly earned a profit of $7.47 million (about £5.70 million) last month, leading to fears about whether the sell-off could continue.
Following the large whale transfer, the wider market was shaken which caused PEPE’s price to fall further and hit an important support area. Because market sentiment is very sensitive now, analysts are keeping a close eye on key support areas.
Key PEPE Metrics Snapshot
| Metric | Details |
|---|---|
| 24-Hour Price Drop | -11% |
| Current Price | $0.00001128 |
| Market Cap Decline | Over $650 million |
| Whale Transaction Volume | 502.5 billion PEPE |
| Whale Deposit Value | $6.47 million |
| Remaining Whale Holdings | 497.5 billion PEPE |
| Value of Remaining Holdings | $6.41 million |
| Whale’s Monthly Profit (Est.) | $7.47 million (£5.70 million) |
| Short-Term Support Range | $0.0000120 – $0.0000124 |
| Critical Resistance Levels | $0.0000135 and $0.000015 |
| Potential Downside Target | $0.0000100 |
| Bullish Target if Recovered | $0.000025 |
PEPE Price Tests Support as Technical Indicators Flash Bearish Signals
At the moment, PEPE is trading below its 20-day simple moving average and is not far from the lower end of the Bollinger Band which points to possible overselling. Although a temporary rise is still possible, increasing signs of weakness are shown by the gap between the MACD lines suggesting more downward movement.
Immediate price help is found between $0.0000120 and $0.0000124. After breaking this point, the next potential backup for buyers could arrive at $0.0000100. If prices go below this range, it would add support to the idea that the market is going to decline. If the value of Musk returns goes up from this point, it is expected to face resistance at $0.0000135 and, going further up, around the $0.000015 mark.
Movements in the price of Ethereum are still being primarily driven by the whales. Loss of momentum along with fewer trades suggests the bullish trend is ending. Having the lower Bollinger Band move down continuously indicates a tendency for the price to decrease.
Whale Profit-Taking Undermines Bullish Outlook
In mid-March, PEPE rose strongly from less than a cent to over $0.000009, showing a gain of more than 45% in very little time. Still, recent losses have reduced this momentum, making people doubt that bullish traders can keep up their strength. Since the whale has sold such a large position, a rise in volatility in the coming days seems likely.
Currently, PEPE is below a major regression support point at $0.000013 and bulls are finding it hard to push the price above this level. A price rise above current levels could see it heading toward the $0.000025 goal that some analysts have mentioned. Yet, to stop further declines, it will be necessary to maintain the support zone area.
