PEPE Coin Down 60%—But Key Signals Point to a Strong Rebound
The post PEPE Coin Down 60%—But Key Signals Point to a Strong Rebound appeared on BitcoinEthereumNews.com.
Currently trading at around $$0.000008810, the token has dropped 27% in just the past 24 hours sparking concerns among investors. PEPE Coin, one of the most popular meme-based cryptocurrencies, has witnessed a staggering decline, shedding 80% of its value since its all-time high of $0.00002825 in December 2024. The steep sell-off is driven by the Trump Tariffs and whale activity, which has flooded the market with massive token deposits, increasing selling pressure. Pepe Coin has recently undergone a 60% price correction. Source: BowTiedIguana via X On-chain data indicates that over 1.1 trillion PEPE tokens have been liquidated in recent days. A crypto analytics firm reported that a single wallet deposited 430 billion PEPE, valued at $6.39 million, into Binance within a span of nine hours. Another whale offloaded 325.5 billion PEPE, worth $4.9 million, while additional large holders transferred millions more to exchanges. This influx of supply significantly weakened PEPE’s price momentum, leading to a sharp decline. Signs of a Potential Recovery Despite the recent sell-off, some indicators suggest that PEPE may be on the verge of a recovery when the market rebounds. One of the key metrics traders look at is the Market Value to Realized Value (MVRV) ratio. Historically, when PEPE’s MVRV enters certain levels, the price has rebounded strongly. Previous similar occurrences have led to price increases of 51% to 72%. If this trend holds, PEPE could see a substantial bounce in the coming weeks. PEPE whale “0xc25” resurfaces, depositing 500B PEPE after turning $3K into $51.25M. Source: SpotOnChain via X Another encouraging sign is the decline in PEPE’s exchange reserves. On-chain data shows that more PEPE tokens are being moved from exchanges to private wallets. This often signals that investors are choosing to hold rather than sell, which can reduce selling pressure and stabilize prices. Crypto…
Filed under: News - @ February 3, 2025 6:19 am