Will Pepe Coin Drop Below $0.00001? Whale Sale Starts Fear
The U.S. Fed's 25 Bps rate drop sparked a second-half December cryptocurrency market slump. Meme currencies are volatile and susceptible to speculative trading, therefore negative momentum affected them more. Whale selling and bearish pattern building might cause a $0.00001 Pepe coin price meltdown.
According to CoinMarketcap , the meme market value is $105 billion and the 24-hour trading volume is $28 billion.
Key Highlights:
Double-top patterns might cause protracted corrections below $0.00001.
Crypto investors look for pullback support between $0.000017 and $0.0000128, the 100- and 200-day exponential moving averages.
Bearish Relative Strength Index divergence suggests Pepe coin price weakness.
PEPE Coin Price Decline May Follow Whale Exit
A notable whale shifted 150 billion PEPE tokens, worth $2.72 million, into Binance to avoid losses during a market drop. This follows the whale's November 28 withdrawal of 150 billion PEPE ($2.94 million) and 60 billion SHIB ($1.52 million) from Binance.
Lookonchain data shows the whale has unrealized losses of $219,000 on PEPE and $136,000 on SHIB. If PEPE keeps falling, the whale may sell more. Whale exits have often accompanied market declines and gloomy sentiment.
Bitcoin fell below $100k after Powell's hardline speech, intensifying the altcoin market downturn. In the previous 48 hours, the frog-themed Pepe dropped 22% from $0.000022 to $0.0000174.
A daily chart study of this correction indicates a double top reversal pattern. The chart pattern has two big reversals from the common resistance zone, forming a ‘M’.
A lower-high RSI indicator as the price peaks indicates a bearish divergence, indicating a loss of bullish power.
This position might cause the Pepe coin price to break the neckline support of $0.0000172, increasing market selling pressure. The asset may plunge 55% to $0.0000077 after the breakup.
Dogecoin is nearing a key point around $0.3566, with the RSI showing oversold circumstances. This shows that the asset may be undervalued after the current sell-off, allowing a comeback.
Whether the bulls can use this chance to rebound is doubtful. With the market tired, $0.3563 is a key level. Dogecoin's next big rise may depend on the price's next few sessions.
DOGE's resilience at the 100-day SMA suggests bulls are trying to retake control. As the price structure changes, momentum is crucial to confirm a positive breakout. Market emotion and trade dynamics will likely impact the following moves.
DOGE is in the oversold zone with an RSI of 30%. Dogecoin may have been undervalued due to selling pressure, according to this technical indicator. RSI readings below 30% usually signal buyers to reenter the market and recover.
This does not ensure a fast rebound, but it suggests a reversal in the following sessions, particularly if other positive indications match. The RSI rising shortly might indicate a change in emotion and momentum, so traders are watching. With price activity reaching important support levels, the RSI's posture may influence Dogecoin's upcoming moves.
Dogecoin Rebound or Rally?
DOGE's price behavior suggests a comeback or a rally continuation. Given the oversold RSI signal at $0.3563, bulls might force the price higher to capitalize on discounted circumstances. DOGE may test resistance at $0.4484 and resume its upward trend if it recovers.
If negative pressure continues, the cryptocurrency may struggle to restore bullish control and fall toward $0.1800. Dogecoin's direction will be determined by support and resistance levels in the next trading sessions.
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