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Will Pepe Coin Drop Below $0.00001? Whale Sale Starts Fear
The U.S. Fed's 25 Bps rate drop sparked a second-half December cryptocurrency market slump. Meme currencies are volatile and susceptible to speculative trading, therefore negative momentum affected them more. Whale selling and bearish pattern building might cause a $0.00001 Pepe coin price meltdown.
According to CoinMarketcap , the meme market value is $105 billion and the 24-hour trading volume is $28 billion.
Key Highlights:
Double-top patterns might cause protracted corrections below $0.00001.
Crypto investors look for pullback support between $0.000017 and $0.0000128, the 100- and 200-day exponential moving averages.
Bearish Relative Strength Index divergence suggests Pepe coin price weakness.
PEPE Coin Price Decline May Follow Whale Exit
A notable whale shifted 150 billion PEPE tokens, worth $2.72 million, into Binance to avoid losses during a market drop. This follows the whale's November 28 withdrawal of 150 billion PEPE ($2.94 million) and 60 billion SHIB ($1.52 million) from Binance.
Lookonchain data shows the whale has unrealized losses of $219,000 on PEPE and $136,000 on SHIB. If PEPE keeps falling, the whale may sell more. Whale exits have often accompanied market declines and gloomy sentiment.
Bitcoin fell below $100k after Powell's hardline speech, intensifying the altcoin market downturn. In the previous 48 hours, the frog-themed Pepe dropped 22% from $0.000022 to $0.0000174.
A daily chart study of this correction indicates a double top reversal pattern. The chart pattern has two big reversals from the common resistance zone, forming a ‘M’.
A lower-high RSI indicator as the price peaks indicates a bearish divergence, indicating a loss of bullish power.
This position might cause the Pepe coin price to break the neckline support of $0.0000172, increasing market selling pressure. The asset may plunge 55% to $0.0000077 after the breakup.
#PEPE #Fed25bpRateCut #MarketPullback #BinanceAlphaAlert $PEPE $SHIB $DOGE
The U.S. Fed's 25 Bps rate drop sparked a second-half December cryptocurrency market slump. Meme currencies are volatile and susceptible to speculative trading, therefore negative momentum affected them more. Whale selling and bearish pattern building might cause a $0.00001 Pepe coin price meltdown.
According to CoinMarketcap , the meme market value is $105 billion and the 24-hour trading volume is $28 billion.
Key Highlights:
Double-top patterns might cause protracted corrections below $0.00001.
Crypto investors look for pullback support between $0.000017 and $0.0000128, the 100- and 200-day exponential moving averages.
Bearish Relative Strength Index divergence suggests Pepe coin price weakness.
PEPE Coin Price Decline May Follow Whale Exit
A notable whale shifted 150 billion PEPE tokens, worth $2.72 million, into Binance to avoid losses during a market drop. This follows the whale's November 28 withdrawal of 150 billion PEPE ($2.94 million) and 60 billion SHIB ($1.52 million) from Binance.
Lookonchain data shows the whale has unrealized losses of $219,000 on PEPE and $136,000 on SHIB. If PEPE keeps falling, the whale may sell more. Whale exits have often accompanied market declines and gloomy sentiment.
Bitcoin fell below $100k after Powell's hardline speech, intensifying the altcoin market downturn. In the previous 48 hours, the frog-themed Pepe dropped 22% from $0.000022 to $0.0000174.
A daily chart study of this correction indicates a double top reversal pattern. The chart pattern has two big reversals from the common resistance zone, forming a ‘M’.
A lower-high RSI indicator as the price peaks indicates a bearish divergence, indicating a loss of bullish power.
This position might cause the Pepe coin price to break the neckline support of $0.0000172, increasing market selling pressure. The asset may plunge 55% to $0.0000077 after the breakup.
#PEPE #Fed25bpRateCut #MarketPullback #BinanceAlphaAlert $PEPE $SHIB $DOGE
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