Despite the surge in whale accumulation, Pepe’s price is still at risk of falling further. The disconnect between large holders and the broader market sentiment could push the meme coin lower.

Data from Glassnode shows a 108% spike in PEPE accumulation by cryptocurrency holders over the past week. However, this buying spree stopped after September 13, leaving the meme coin vulnerable to a price drop. Without continued accumulation, PEPE’s price may struggle to hold its current levels.

Adding to the bearish outlook, PEPE’s active addresses have dropped significantly since September 14, signaling reduced user engagement and lower demand.

Currently trading at $0.0000071, PEPE is down 31% over the past 90 days. On-chain data shows resistance at this level, with 8,600 addresses holding over 31 trillion tokens, creating a tough barrier to break. If selling pressure continues, PEPE could fall to $0.0000060. However, a spike in demand could reverse this trend and push the price towards $0.000010.

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