PEPE Crashes 50% as Whales Exit : What’s Behind the Sell-Off ?
The PEPE price has plummeted dramatically recently, leading whales to offload billions of tokens. How are investors responding to this wave of massive selling?
PEPE’s Collapse Forces Whales to Unload Their Positions
The PEPE has experienced a staggering drop of over 50% in just 5 days, plummeting from $0.00000927 to $0.00000698. This sudden correction led to a wave of massive sell-offs by the whales, who liquidated more than one trillion of PEPE tokens.
One of these institutional investors notably sold 438 billion PEPE, incurring a loss of $434,000. Another trader holding a position worth $21.6 million on the memecoin suffered a loss of $3.23 million. To avoid liquidation, they had to inject $3.8 million of USDC into Hyperliquid to convert part of their position into cash.
A Return to Expected Support Levels
Despite this selling pressure, PEPE is currently trying to stabilize around the support level at 0.50 of the fibonacci, which is $0.00000698. If this support holds, the token may aim to reclaim the resistance zones at $0.00000811 and $0.00000927.
However, a failure at this level would likely trigger a new wave of sales, pushing PEPE back towards the supports at $0.00000653 (0.618 fib) and $0.00000593 (0.786 fib). The declining MACD indicates that the bearish momentum is not yet exhausted.
The dramatic fall of PEPE and the massive whale sell-offs illustrate the extreme volatility that characterizes this memecoin. Investors must exercise the utmost caution and adopt strict risk management if they wish to expose themselves to this speculative market. A return to support levels could set the stage for a rebound, but the bearish momentum is not yet fully exhausted.
Gaston Cuny
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
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