Will Pepe Coin Drop Below $0.00001? Whale Selling Raises Fears
The 25bps rate cut by the US Fed triggered a crash in the cryptocurrency market in the second half of December. Meme currencies are volatile and susceptible to speculative trading, which is why the negative momentum affected them more. Whale selling and the creation of bearish patterns could cause the price of Pepe coin to drop to $0.00001.
According to CoinMarketcap, the market cap of memes is $105 billion and the 24-hour trading volume is $28 billion.
Key Highlights:
Double top patterns could cause prolonged corrections below $0.00001.
Cryptocurrency investors are looking for pullback support between $0.000017 and $0.0000128, the 100-day and 200-day exponential moving averages.
The bearish divergence in the Relative Strength Index suggests weakness in Pepe coin price.
The drop in PEPE coin price could follow the whale’s exit
A notable whale transferred 150 billion PEPE tokens, worth $2.72 million, to Binance to avoid losses during a market decline. This follows the whale’s withdrawal of 150 billion PEPE ($2.94 million) and 60 billion SHIB ($1.52 million) from Binance on November 28.
Lookonchain data shows that the whale has unrealized losses of $219,000 on PEPE and $136,000 on SHIB. If PEPE continues to fall, whales could sell more. Whale outflows have often accompanied market declines and gloomy sentiment. Bitcoin fell below $100,000 after Powell’s tough speech, intensifying the altcoin market downturn. Over the previous 48 hours, the frog-themed Pepe fell 22% from $0.000022 to $0.0000174.
$PEPE $BTTC
The 25bps rate cut by the US Fed triggered a crash in the cryptocurrency market in the second half of December. Meme currencies are volatile and susceptible to speculative trading, which is why the negative momentum affected them more. Whale selling and the creation of bearish patterns could cause the price of Pepe coin to drop to $0.00001.
According to CoinMarketcap, the market cap of memes is $105 billion and the 24-hour trading volume is $28 billion.
Key Highlights:
Double top patterns could cause prolonged corrections below $0.00001.
Cryptocurrency investors are looking for pullback support between $0.000017 and $0.0000128, the 100-day and 200-day exponential moving averages.
The bearish divergence in the Relative Strength Index suggests weakness in Pepe coin price.
The drop in PEPE coin price could follow the whale’s exit
A notable whale transferred 150 billion PEPE tokens, worth $2.72 million, to Binance to avoid losses during a market decline. This follows the whale’s withdrawal of 150 billion PEPE ($2.94 million) and 60 billion SHIB ($1.52 million) from Binance on November 28.
Lookonchain data shows that the whale has unrealized losses of $219,000 on PEPE and $136,000 on SHIB. If PEPE continues to fall, whales could sell more. Whale outflows have often accompanied market declines and gloomy sentiment. Bitcoin fell below $100,000 after Powell’s tough speech, intensifying the altcoin market downturn. Over the previous 48 hours, the frog-themed Pepe fell 22% from $0.000022 to $0.0000174.
$PEPE $BTTC