Pepe Price Plunges as Whale Activity Surges: What’s Next For PEPE?

Pepe has experienced significant price volatility due to a whale shifting large volumes, reflecting industry trends and investor strategies.

Whale Activity and Market Shifts
Recently, 400 billion PEPE tokens were transferred to Binance by a whale, indicating a profit-taking strategy. The whale holds 395.93 billion PEPE tokens, valued at approximately $4.18 million, after a previous withdrawal of 795.92 billion PEPE tokens from Binance.

Price Fluctuations
PEPE price has dropped 8% in the past 24 hours to $0.00000105. Over the week, it has declined 11% and 8% over the month.

Market Recovery Potential
Continued bearish pressure could push PEPE price below $0.00001, potentially to $0.0000097 and $0.0000095. Technical indicators show a mixed outlook: RSI indicates oversold conditions, while MACD points to bearish momentum.

Derivative Market Sentiment
Coinglass data suggests a potential decrease in investor confidence, with a 5% decline in open interest. This indicates a reduction in active contracts and potential trader departures.

Possible Bullish Rebound
If the market rebounds, PEPE price could regain $0.0000105 and potentially rally to $0.000011 and $0.000015 in an extended bullish run.