Whales Offload $1.6M in PEPE as Support Level Tests Market's Resolve

PEPE's price fell by 7% within 24 hours, with trading volumes surging to 2.29 trillion tokens, as the token tested key technical support near $0.0000093 CoinDesk^[1]. The decline was attributed to profit-taking by large holders ("whales") and rising political risks, including fiscal policy tensions in Japan CoinDesk^[1]. Despite a brief stabilization, PEPE underperformed the broader market, with the CoinDesk 20 index dropping 3.35% and the memecoin sector declining 4.3% CoinDesk^[1].

Technical analysis indicates a bearish outlook if the $0.0000093 support level fails, with potential further declines to $0.000005833 Cryptonomist^[3]. Conversely, a rebound above $0.00000918 could trigger a rally toward $0.00001438, a 127% gain from current levels Cryptonomist^[3]. The market remains in a "reality zone," with most assets trading near fair value and no strong overbought or oversold signals DailyCoin^[4].

Whale activity has intensified the downward pressure. A major holder recently sold 196 billion PEPE tokens, valued at $1.2 million, while another whale offloaded 438 billion tokens at a $434,000 loss . These moves reflect growing uncertainty, as only 28% of token holders currently hold profitable positions .

Long-term price forecasts vary. Some analysts predict a potential 10x surge by 2025 if the token regains bullish momentum, though this hinges on broader market recovery DailyCoin^[4]. Others caution that a breakdown below $0.000005833 could push PEPE to $0.000005000 amid escalating trade tensions .

The memecoin's market cap has fallen 10% in a week, now valued at $4.41 billion, with futures open interest declining from $1 billion to $590 million, signaling reduced speculative interest DailyCoin^[4]. However, its strong community engagement and meme-driven appeal continue to sustain relevance despite the bearish trend DailyCoin^[4].