- PEPE Coin has dropped 80% from its all-time high of $0.00002825 due to whale sell-offs.
- PEPE faces a heavy sell-off, but signs suggest the potential for a rebound.
One of the most hyped memecoins, PEPE Coin, has nosedived around 80% from its all-time high of $0.00002825, recorded in December 2024. In the last 24 hours, PEPE’s price has declined by more than 27%. According to CMC data, PEPE Coin was trading at $0.000059795 at press time, indicating that the memecoin is under severe selling pressure. The major reason for this downturn is the liquidation of tokens by large holders.
The primary drivers of the sell-off happen to be the Trump Tariffs and whales in the market. According to on-chain data, more than 1.1 trillion PEPE tokens have been liquidated in recent times. A crypto analytics firm reported that one whale deposited 430 billion PEPE worth $6.39 million into Binance in just nine hours. Another whale transferred 325.5 billion PEPE worth $4.9 million and continued to drive sales pressure. With this huge inflow of token deposits flooding the market, PEPE’s price momentum has been very much dented, causing it to undergo a major sell-off.
Despite the harsh fall, some market indicators show that PEPE might just be going to come back. The most critical metric that everyone follows is now reading well for the MVRV ratio. In the past, when the MVRV of PEPE touched certain levels, it rebounded by as high as 72%. Meaning that if history repeats itself, the asset will have a strong rebound.
The second factor is that PEPE’s exchange reserves are going down because tokens are being transferred from exchanges to private wallets. That is a typical trend when investors are holding their tokens. It reduces selling pressure and hints at increasing confidence levels in the coin. According to crypto trader ChandlerCharts, “PEPE is pushing up with a conviction for the first time since January 18, a signal of a reversal in trend.”
Market conditions and investor sentiment will finally decide if PEPE can be turned around. The price at this moment is getting closer to the key supports, and if buying intensifies and whales withhold further selling, it could even reverse.
Since memecoins are quite volatile, recovery of PEPE cannot be promised to be certain. But whales and the number of coins in exchanges would be more vital indicators showing potential for recovery.
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