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PEPE falls 15% over seven days and trades at $0.0000072.
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Whale sells 68.76B PEPE for $509,500, realizing $427,000 in profit.
- Analyst predicts 150% upside for PEPE if it breaks the descending channel.
Sharp declines in investor confidence and ongoing volatility have wiped billions from the meme-coin market.
The sector, currently valued at about $46 billion, has seen losses across its largest tokens — Dogecoin, Shiba Inu and PEPE.
Among them, PEPE has drawn particular attention after dropping 15% over the past week and trading near $0.0000072.
The frog-themed meme coin is approaching key support levels, prompting renewed scrutiny from analysts and traders.
Technical indicators point to growing bearish pressure, with investors watching price action and whale behavior closely for clues about what lies ahead.
PEPE down 70% from its peak
On the daily chart, PEPE remains trapped in a dominant downtrend, having lost more than 70% from its all-time highs.
The token recently bounced from $0.0000053 but continues to face resistance from the long-term descending trendline.
A short-term expanding channel has formed, indicating increased volatility but no clear directional bias.
Despite an intraday recovery of nearly 3%, indicators such as the MACD and RSI paint a bearish picture.
The MACD and signal lines approach a negative crossover, while the RSI has slipped below the midpoint, revealing weak momentum.
This technical setup suggests PEPE could struggle to hold current levels unless it breaks convincingly above resistance.
Whale sells $509K worth of PEPE
Adding to the downward pressure, a major whale that has held PEPE since 2023 liquidated a portion of its position.
OnchainLens reported the wallet sold 68.76 billion PEPE for 271.33 ETH, roughly $509,500 at the time.
The tokens were originally bought for about $82,000 on KuCoin, producing a realized profit of $427,000 for the seller.
Although the realized return was sizable, the whale would have earned up to $1.79 million if sold at PEPE’s peak price.
The timing of the sale suggests waning long-term conviction among early backers, especially as the token has struggled to sustain upward momentum in recent months.
Whale holdings rose by 22 trillion in Q1
Despite the recent sale, broader whale activity remains positive. Total PEPE holdings by whale wallets increased from 337.75 trillion to 350.16 trillion in Q1 2025.
The rise of 22 trillion PEPE points to growing interest among large-volume traders, particularly within the bracket of 100 billion to 10 trillion tokens.
However, the largest wallets holding between 10 trillion and 100 trillion PEPE reduced exposure by 7 trillion tokens.
This divergence in whale behavior highlights ongoing uncertainty in the meme-coin market, with some investors accumulating while others take profits or lower exposure to risk.
Analyst sees 150% rally potential
With prices consolidating near local support, some analysts believe a turning point could be approaching.
Crypto market analyst Jonathan Carter recently noted that PEPE is forming a descending-channel pattern, which can sometimes precede a bullish reversal.
Carter suggested that a breakout above the 50-day moving average could propel PEPE toward $0.0000093, with a longer-term target near $0.000021 — implying potential gains of up to 150%.
Any such rally, however, would require a shift in market sentiment and confirmation from price action.
Traders continue to monitor how PEPE interacts with resistance levels, daily volume trends and wallet activity to determine whether the token can reverse its downtrend or face another leg lower.