Pepe Drops 0.078% Amid Bearish Market Sentiment

Pepe's latest price was $0.00001171, up 0.078% in the last 24 hours. The meme coin has been experiencing significant market volatility, with the selling volume rising considerably and the Open Interest continuing to fall. This trend suggests that the market is decidedly bearish, with sellers gaining strength and the potential for further price declines.

The recent decline in Pepe is attributed to intensifying selling pressure. Analysis shows that a significant portion of the overall derivative market volume comes from sellers, and there has been a decline in Open Interest. Long traders have been particularly affected, with a total liquidation in the past 24 hours, indicating that the market is moving against traders with bullish bets, leading to more sell-offs and further drops in Pepe's value.

Funding Rate data, which indicates which market cohort is paying a premium to maintain positions, shows that sellers are paying. When sellers pay a premium, it suggests that the market is moving in their direction, and the fee helps maintain the price difference between the spot and Futures markets. If this downward pressure continues, along with declining Open Interest and higher selling volume, Pepe has a high potential to drop even lower.

Despite the bearish sentiment, buyers remain active in the market and continue to accumulate the asset. Spot market analysis shows that these investors purchased a significant amount of Pepe in the past 24 hours. In the past week, investors scooped up a total worth of Pepe, contributing to the bullish outlook. An analysis of the Bollinger Bands, which identify overbought or oversold conditions, confirms this sentiment. Currently, Pepe has entered the oversold region, a move that has historically marked the beginning of major rallies. However, a potential drop still looms, as selling pressure continues to grow. If the decline persists, Pepe could fall to the nearest support level.

Profit booking has begun in Pepe, as whales have recently dumped billions of coins while the price continued to decline. With a price dip, Pepe appeared bearish and poised for massive downside momentum in the coming days. During this period, traders and investors appeared fearful and avoided participation, resulting in a drop in trading volume. Following the dip in Pepe’s price, a crypto whale offloaded coins worth to Binance, securing a profit. This impressive gain was achieved in just one month, as the tokens were acquired in late April or early May 2025. Despite the substantial sell-off, the whale still holds billions of Pepe coins. This sell-off by whales came during the period when Pepe broke down from an ascending triangle price pattern, turning the sentiment bearish.

Following the breakdown, the memecoin has turned bearish and appears poised to continue its downside momentum in the coming days. Based on the daily and four-hour charts, if this downward trend continues, Pepe could see a price decline, potentially reaching the next support level and the 200-day Exponential Moving Average (EMA). As of press time, Pepe’s Relative Strength Index (RSI) stood at 52, indicating that the token was in a neutral zone with neither overbought nor oversold conditions, suggesting a balanced momentum. During this period, whale participation has skyrocketed. Data from the on-chain analytics tool revealed that Pepe’s large transaction volume, typically linked to whales and institutions, has soared. This uptick raises questions about whether these whales are positioning themselves for a bearish outlook or if they’re seizing the opportunity to accumulate Pepe at lower prices.