Pepe ($PEPE) coin whales are withdrawing their funds, and the meme coin may face rough waters. This is after a marginal price recovery of the meme coin, suggesting the recovery might fail. A fresh Binance wallet withdrew 492 billion $PEPE tokens worth $3.74 million.
Pepe’s price had risen 6% over the past twenty-four hours as whale activity intensified. This action could cause increased volatility, as volatility tends to rise when institutional investors or major holders execute large transactions.
Pepe Coin Price Movement and Market Outlook
Technical indicators point toward declining bullish momentum, which indicates that an upcoming price correction is probable. The Relative Strength Index (RSI) shows similar patterns at press time as displayed during PEPE coin past price reversals.
It shows Pepe trading in an area that indicates potential overbought conditions due to its recent 6% price increase.
As per market data, price corrections usually occur following bearish divergence patterns. The RSI data shows an approaching critical area. However, it has not reached the overbought range. Therefore, any significant price increase might encounter resistance.
Lengths produced by MACD histograms show signs of decreasing bullish force while the indicator maintains some upward movement. The MACD line moves toward flatness, indicating bulls’ control might end.
The tightening histogram pattern indicates that upward pressure is losing intensity. It also hints that selling activity will probably take over soon.
A bearish crossover appears as the MACD line crosses beneath the signal line on the trading chart. Bearish indicators from both the RSI and the potential bearish crossover signal hint that PEPE price would decrease following such a crossover as the market momentum shifts from buying to selling.
Chart patterns also reveal signs that may lead to market reversal. An upside-down bearish hammer appeared during the past few weeks. It indicated that the market might shift into an upward trend.
Financial charts show this formation next to declining trends before they begin to rise upwards. This possible price increase in the medium term stems from the reversal pattern, which needs future bullish price movement to verify its authenticity.
Pepe Could Repeat History
PEPE’s coin current price position mirrors the market patterns from September 2024, according to experts. It indicates that established earlier support areas serve as crucial price levels at this moment.
PEPE followed a significant price surge in late 2023 and early 2024 by undergoing an abrupt price drop. That led to a period of market stabilization.
It maintains a level of 0.00000200–0.00000250, which provides potential support before breaking through to higher values.
Since the rise in peak price volume occurred in November 2024, the market has seen lower trading volumes. According to experts, it indicates peers may accumulate assets prior to setting a fresh trend trajectory.
The $3.74 million withdrawal from Binance represents one transaction in a series of transactions known as whale activities, which Pepe coin is seeing progressively.
The large-scale whale buying activity can indicate a short-term opportunity for retail traders. At the same time, the price consolidates, or it can point towards future market entry strategies for whales.
Short-term selling pressure reduction occurs following the massive Binance liquidity withdrawal. Yet, price drops could emerge when large holders decide to re-enter the market.
The post Pepe Coin Whales Cashing Out Amid Recovery, Dip Incoming? appeared first on The Coin Republic.
The Coin Republic – Read More