Pepe Coin is under pressure due to its strong correlation with Ethereum, which is currently struggling with resistance and has recently fallen. The potential dumping of $38 million in ETH by an inactive whale poses a significant risk to the price of Pepe Coin.

1. Ethereum Struggling: Ethereum is struggling to break through key resistance levels. Over the past 24 hours, Ethereum is down 5.6% and Pepe Coin is down 6.5%, reflecting a strong correlation (0.81) between the two coins.

2. Whale Activity: A large Ethereum whale, holding $37.1 million in ETH, recently moved his holdings. If this whale decides to sell, it could further depress the price of Ethereum, negatively impacting Pepe Coin.

3. Price Trend: Pepe Coin is forming a bearish continuation pattern, with a descending triangle on the 4-hour chart. Support is at $0.00000600-$0.00000700 and resistance is near $0.00000800. A breakout above this resistance level could signal a potential price reversal.

Potential Impact:
- Bearish sentiment: If whales dump their ETH, both Ethereum and correlated assets like Pepe Coin could fall significantly. Pepe Coin's price could potentially fall 31% if the whale's actions lead to significant market disruption.

Conclude:
Pepe Coin's performance is closely tied to Ethereum's movements and the actions of large investors. Keeping an eye on Ethereum's resistance levels and whale behavior will be important to predict potential impacts on Pepe Coin's price.

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