Major investors in the PEPE token, known as 'whales,' are rumored to be selling off their assets. This potential mass exit could potentially trigger a 15% decline in the token's value.
Bearish Momentum in Pepe [PEPE] as Whales Sell Billions
Recent actions by cryptocurrency whales have signaled a possible downtrend for Pepe [PEPE], as they dumped billions of coins while the price continued to decline. As of the 30th of May, with an 11% price dip, PEPE appears bearish and poised for significant downside momentum in the coming days.
At press time, PEPE was trading near $0.0000128, with a concurrent 15% drop in trading volume, according to CoinMarketCap. This decrease in activity suggests a prevailing sense of fear among traders and investors, who are reluctant to participate in the market.
Following the dip in PEPE's price, a significant crypto whale offloaded 502.5 billion coins worth $6.47 million to Binance, realizing a profit of $7.47 million. TheTokens were acquired in late April or early May 2025. Despite the substantial sell-off, the whale still holds 497.5 billion PEPE coins, valued at $6.41 million.
PEPE's bearish turn came when the memecoin broke down from an ascending triangle price pattern, which further exacerbated the pessimistic sentiment.
After examining the chart analysis, our website anticipates that PEPE will continue its downward trend, potentially experiencing a 15% price decline in the coming days. If this continues, the next support level at $0.0000111 and the 200-day Exponential Moving Average (EMA) could be reached.
In contrast, PEPE's Relative Strength Index (RSI) currently stands at 52, indicating that the token is in a neutral zone with neither overbought nor oversold conditions, suggesting a balanced momentum.
Recent data from on-chain analytics tool IntoTheBlock shows a spike in large transaction volume attributed to whales and institutions, rising by 4.09%. This uptick raises questions about whether the whales are positioning themselves for a bearish outlook or purchasing PEPE at lower prices.
Two major liquidation levels have been identified: $0.00001259 on the lower side (support) and $0.00001351 on the upper side (resistance), where traders appear over-leveraged. With these levels, traders have built approximately $2.39 million worth of long positions and $7.65 million worth of short positions. A price movement in either direction could trigger liquidations.
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Enrichment Data:The most relevant details from the provided Enrichment Data concern the recent surge in trading volume and whale activity contributing to significant price movements, as well as the transfer of $27.9 million from Bybit to an unknown address. While not direct developments for PEPE, they serve to illustrate the broader market trends and dynamics affecting the memecoin.
In the coming days, it will be interesting to observe whether PEPE's downward momentum persists and whether traders choose to capitalize on lower buying opportunities or hold onto their investments. The impact of the$27.9 million transfer and its destination will also be important to consider.
- The recent sell-off of billions of Pepe [PEPE] tokens by cryptocurrency whales, combined with the token's price dip and decrease in trading volume, indicates a bearish momentum for PEPE in the crypto finance world of investing.
- Our technical analysis suggests that PEPE may continue its downward trend in the coming days, potentially leading to a price decline of up to 15%, reaching the support level at $0.0000111 and the 200-day Exponential Moving Average (EMA).
- Despite the bearish outlook, Pepe's Relative Strength Index (RSI) remains in a neutral zone, indicating a potential balance in its momentum.
- The increase in large transaction volume and whale activity, highlighted by the $27.9 million transfer from Bybit to an unknown address, could potentially impact Pepe's market trends, influencing the decisions of traders in the crypto investing community.
