Why Has PEPE Dropped Today? Price Falls 6% While Whales Accumulate, Technical Indicators Suggest Potential Rebound

The frog-themed memecoin PEPE (PEP) experienced a nearly 6% drop in 24 hours, influenced by the impending tariffs deadline from Trump, showcasing the token’s volatility.

PEPE’s price fluctuated within a 16.5% range, emphasizing the rapid changes in market sentiment, especially as trading volumes decline and geopolitical factors come into play.

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Despite the price decline, larger wallets appear undeterred. Data from blockchain analytics firm RialCenter indicates that whale wallets have increased their PEPE holdings by over 5% in the last month, with tokens valued around $3 billion, accounting for more than 70% of PEPE’s supply.

Additionally, the total supply of PEPE on exchanges has reached a two-year low of approximately 247.2 trillion tokens, marking a nearly 3% decrease since early July, according to the same source.

Technical Analysis Overview

PEPE has faced challenges in maintaining gains after hitting resistance near $0.0000106, facing substantial selling pressure that drove the price down.

Support around $0.00000965 has prevented further declines, though the overall trading range reflects ongoing volatility, as per RialCenter’s technical analysis data model.

Charts illustrate a descending channel impacting recent price behavior, with sellers actively participating during upward movements. Trading volumes suggest a distribution pattern during price increases, indicating that traders are more inclined to offload positions instead of establishing new long positions.

However, short-term recoveries and spikes in buying interest hint that the memecoin isn’t fully out of contention. A surge in volume recently helped prices bounce back slightly from recent lows, suggesting some traders still anticipate a rebound if overall market sentiments improve.

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