PEPE Coin Struggles with a 60% Price Drop—Is a Rebound Coming?
The post PEPE Coin Struggles with a 60% Price Drop—Is a Rebound Coming? appeared on BitcoinEthereumNews.com.
Whales dumped 1.1 trillion PEPE Coin, driving a sharp price drop to $0.000012. Key indicators suggest a potential rebound if PEPE holds critical support levels. Leading meme coin, PEPE Coin has seen a dramatic decline in its value, dropping 60% from its December 2024 all-time high of $0.00002825. Currently trading at approximately $0.000012, PEPE has lost 20% in the past week alone, raising concerns among investors. However, on-chain metrics and whale activity suggest that a potential recovery may be on the horizon. Source: CoinMarketCap Whale Sell-Offs and Market Sentiment Drive Price Decline On-chain data shows that over 1.1 trillion PEPE tokens have been liquidated in recent days. Crypto Analytics firm Lookonchain revealed massive Pepe whales transactions, a single wallet deposited 430 billion PEPE, valued at $6.39 million, into Binance within nine hours. Another whale transferred 325.5 billion PEPE, worth $4.9 million, while additional large holders moved millions more into exchanges. The influx of supply has intensified selling pressure, driving PEPE’s price lower. Max, a crypto analyst, noted: “Just as quick as “it’s so over” things can shift to “we are so back”… & that is exactly what I expect to happen here with $PEPE.” Despite the heavy selling, trading volume remains high. Over 33.48 trillion PEPE coins—worth $437.32 million—changed hands in the past 24 hours. Can PEPE Recover? Key Indicators Suggest a Possible Bounce Some analysts believe PEPE could be primed for a reversal. The Market Value to Realized Value (MVRV) ratio, a key metric indicating potential rebounds, has entered a buy zone. Historically, similar MVRV levels have led to price surges of around 72%, 71%, and 51%t. Additionally, data from Santiment reveals that PEPE’s exchange reserves have declined, meaning more tokens are moving to private wallets. This trend often signals that investors are holding for the long term, reducing…
Filed under: News - @ February 1, 2025 7:27 pm