2025-4-3 17:23 |
PEPE drops 15% in seven days, trading at $0.0000072.
Whale sells 68.76B PEPE for $509,500, realizing $427,000 profit.
Analyst forecasts 150% PEPE rally if falling channel breaks.A sharp drop in investor confidence and ongoing volatility have caused the meme coin market to shed billions in value.
Now standing at $46 billion, the sector has seen declines across its biggest tokens—Dogecoin, Shiba Inu, and PEPE.
Among these, PEPE has drawn particular attention after falling by 15% over the past week to trade at $0.0000072.
The frog-themed meme coin is approaching key support levels, triggering renewed interest from analysts and traders alike.
Technical signals point to mounting bearish pressure, with investors closely watching price action and whale behavior for clues on what lies ahead.
PEPE drops 70% from peakOn the daily chart, PEPE is trapped in a prevailing downtrend, having lost more than 70% from its highs.
The token recently rebounded from $0.0000053 but remains constrained by a long-standing resistance trendline.
A short-term expanding channel has formed, suggesting heightened volatility but no clear direction.
Despite a brief intraday recovery of nearly 3%, indicators such as MACD and RSI paint a bearish picture.
The MACD and signal lines are approaching a negative crossover, while the RSI has dipped below the midline, revealing weak momentum.
The technical setup suggests that PEPE may struggle to hold current levels unless a breakout above the resistance is achieved.
Whale sells $509k in PEPEAdding to the pressure, a significant whale holding PEPE since 2023 has liquidated their position.
According to a tweet by OnchainLens, the wallet sold 68.76 billion PEPE tokens for 271.33 ETH, valued at $509,500.
The tokens were initially bought for $82,000 on KuCoin, netting the investor a realised profit of $427,000.
While the return was substantial, the whale could have earned as much as $1.79 million had they sold at PEPE’s peak price.
The timing of the sale indicates declining long-term confidence from early backers, especially as the token has struggled to maintain upward momentum in recent months.
Whale holdings rise 22T in Q1Despite the recent sale, broader whale activity remains positive. Total holdings by PEPE whales increased from 337.75 trillion to 350.16 trillion in the first quarter of 2025.
The increase of 22 trillion PEPE suggests growing interest from high-volume traders, particularly in the 100 billion to 10 trillion token bracket.
However, the largest wallets holding 10 trillion to 100 trillion PEPE have reduced their exposure by 7 trillion tokens.
This divergence in whale behavior highlights the ongoing uncertainty in the meme coin market, with some investors accumulating while others take profit or scale back risk.
Analyst sees 150% rally chanceAs prices consolidate near local support, some analysts believe a breakout could be on the horizon.
Crypto market analyst Jonathan Carter recently noted that PEPE is forming a falling channel pattern, which often precedes a bullish reversal.
According to Carter, a break above the 50-day moving average could trigger a rally towards $0.0000093, with a longer-term target of $0.000021—representing potential gains of up to 150%.
Still, any such rally would require a shift in sentiment and confirmation through price action.
For now, traders continue to monitor PEPE’s interaction with resistance levels, daily volume trends, and wallet activity to gauge whether the token can reverse its downtrend or face another leg lower.
The post PEPE tumbles 15% in a week as whale cashes out $427,000 profit appeared first on CoinJournal.
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