Pepe Coin Price Analysis Hints Last Pullback Before a New High to $0.00002

Pepe Coin Price Analysis

The cryptocurrency market's downward trend has continued into the latter half of June, with Bitcoin falling to a monthly low of $64,000. Major altcoins are experiencing similar momentum, while memecoin sectors have faced aggressive selling pressure due to their volatile nature.

Despite the downturn, the frog-themed memecoin PEPE has dropped to a low of $0.00000968 but maintains a bullish pattern for a potential rebound.

Pepe Coin Price Analysis: $4.27M PEPE Transfer to Binance Amid Market Correction

Over the past three weeks, PEPE coin has undergone a sustained correction within two downsloping trendlines of a flag pattern. This pattern typically provides buyers with a temporary counter-trend move to regain momentum.

During the recent market correction, PEPE fell from $0.00001725 to a low of $0.00000968, marking a 42.8% loss.

According to crypto analyst Lookonchain, a major investor known as a "whale" deposited 407.74 billion $PEPE tokens, valued at approximately $4.27 million, into Binance. This transaction was made at a break-even price, occurring just two hours before the report.

However, despite the market downturn and whale selling, PEPE remains resilient above the pattern's lower trendline, maintaining its bullish pattern. If the pattern holds true, PEPE could continue its correction phase and trade within the two trendlines.