$PEPE Why PEPE Price is Dropping

The days ago, the crypto community was caught offguard by large token withdrawals from Binance, amounting to almost 1.3 trillion PEPE tokens, according to Etherscan. The unknown origins and use of secure wallets have caused suspicion and led to theories about market manipulation or regulatory concerns. These withdrawals happened at the same time as a sudden increase in prices, causing more uncertainty for investors. Moreover, a significant amount of funds being added to a Binance wallet, suggesting the participation of institutions, has further complicated the market dynamics of PEPE.

Will Pepe Price Recover in May?

Based on the technical analysis of PEPE, short-term and long-term moving averages are both indicating a positive trend with a “Buy” signal. The EMA and SMA for different time frames are all indicating a positive outlook. This shows that the recent price changes have been positive.