PEPE Crashes 16% As Several Whales Sell Off Their Holdings 

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PEPE Crashes 16% As Several Whales Sell Off Their Holdings

Frog-based memecoin PEPE has continued its downward trend after dipping over 16% during the Monday 27th trading session. Weekly data also shows that this coin has dropped over 22%, further proving the downward trend. 

The recent decline depicts increased selling pressure as investors are doubtful about the stability and price performance of the cryptocurrency. In fact, Pepe coin investors have now started leaving the market with technical indicators pointing to further decline. 

Whales Are Selling Their PEPE Holdings

According to a post by Lookonchain on Jan. 27, 2025, several whales have sold their PEPE over the last 48 hours. One whale with wallet address 0xfBfC…07Be made a deposit of 430 billion Pepe coins to Binance nine hours before the 2:27 am UTC post. 

Another whale with wallet address 0xb1a2…6731 deposited 200.88 billion PEPE to Binance, 48 hours before the post. Wallet address marketparticipant.eth was also not left behind as whales sell off, as the whale deposited 325.5 billion Pepe coins to Binance a day before. 

The most recent PEPE sell-off came from wallet address 0xC7ac…BE36. This whale deposited 140.83 billion coins to Binance at around 12:27 am UTC today. 

Pepe Coin’s Price Performance and Technical Outlook 

The Pepe coin was trading at $0.00001247 which is a 16% dip in the day as of the time of writing. This frog-based memecoin has been trading between a low of $0.00001211 and a high of $0.00001391.

PEPE coin price chart

PEPE’s technical indicators are also pointing to bearish momentum. According to the chart above, the coin’s RSI stands at 44.32 mark just below the neutral point (50). If the coin’s RSI manages to go above 50, it might signal an upward recovery. 

The MACD line on the other hand, sits below the signal line. This shows a continued bearish divergence. However, the histogram bars shows the bearish momentum is fading. If a crossover above zero happens, it could trigger a bullish momentum. 

Long-Short Ratio Hits a Monthly Low

Data on Coinglass shows that Pepe coin’s long-short ratio recently reached a low of 0.67. This is lowest point the coin’s long-short ratio has reached in over one month. The value shows that investors of the frog-themed memecoin took short positions fearing for continued drops. 

Additionally, investor confidence regarding a potential Pepe coin recovery is low as evidenced by the high ratio of short positions versus long positions. Based on its recent price performance and sell-off, the coin could dip even further. 

The bearish market sentiment around PEPE will prevail if whales continue exiting the market. However, if it manages to stay above key support levels and attracts renewed buying interest, the coin could face an upward trajectory. Investors are urged to keep an eye on Pepe coin’s key points. 

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