While most altcoins have suffered as a result of Bitcoin’s price volatility, there are some exceptions. We will continue to see these exceptions because that is fundamentally how crypto logic works. Not all altcoins as a whole will go down or up; there are always exceptional assets. In terms of meme coins, PEPE coin may be an exception, and it has begun to show signs of this.

PEPE Coin Review

Like other meme altcoins, PEPE Coin has also been shaken after the overall market downturn. Now, we should focus on on-chain and technical indicators to understand the next phase. Whale activity can provide important signals at this time. The confidence or lack of confidence of whales has a significant impact on small and medium investors. In addition, when they show a negative stance, their large holdings can trigger severe selling pressure.

So, what is the current situation of PEPE Coin? In the past five days, the supply held by whales outside exchanges has decreased by 2.5 trillion, worth about $20 million, indicating that whales are beginning to tend to sell. Normally, these sales should drive the price down further.

However, the situation with PEPE coin is a bit different. Historically, whale sell-offs are followed by rapid rallies. The larger the sales, the higher the rally. The fact that whales are starting to sell suggests that this could happen again.

PEPE Coin Prediction

If whales are not preparing for a large sell-off, the current situation is the first signal of an uptrend based on historical data. The second signal is that a large portion of PEPE holders may be reluctant to sell. More than 79 trillion PEPE coins purchased for $623 million are on the verge of profit. Investors will take profits when the price climbs to between $0.0000070 and $0.0000099, indicating that selling pressure at current levels may still be weak.

Currently, PEPE Coin is holding above the critical support of $0.0000077 and may re-focus on the 60% rebound objective of the descending wedge that it was located in before breaking out two weeks ago. After breaking out, a 30% increase to the target of $0.0000100 seems likely. However, if the support is lost, a drop to $0.0000063 is expected, and a close below this level will invalidate the bullish scenario.