Pepe Coin (PEPE) has experienced a significant price drop of around 30% since its all-time high on December 9, 2024. Analysts are debating whether this is a healthy correction or the start of a longer-term decline.
Market Movements
Despite the recent drop, some analysts remain optimistic about Pepe Coin's long-term prospects . They believe that the current correction could be a reset, potentially leading to new highs in the future
Whale Activity
A large investor, known as a "whale," deposited 150 billion PEPE into Binance to cut losses amid the price drop
This move has drawn attention to the volatility and large-scale trading activities within the Pepe Coin market
Growing User Base
The Pepe Coin community has seen an increase in new holders, with over 1,100 new holders joining recently . This growing interest suggests a positive outlook for the coin's future.
Technical Analysis
The weekly time frame chart shows that PEPE has increased inside an ascending parallel channel since March 2024 However, the price failed to break out from the parallel channel and is now declining . Analysts suggest that if the price falls below the channel's midline, PEPE could decline further
Analyst Opinions
Despite the perceived weakness, technical analysts on X have a mostly bullish view of the future PEPE trend 1. Scient believes the PEPE price will find support soon and begin an upward movement toward a new all-time high . CyrilXBT has the same view, noting the importance of the $0.0000200 horizontal support area.
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