PEPE Token Slides 3.52% as Whale Sell-Offs and Market Sentiment Drive Volatility

PEPEUSDT experienced a 3.52% price decline over the past 24 hours, currently trading at $0.00000988 (down from a 24h open of $0.00001024 on Binance). The price decrease is primarily attributed to prevailing bearish sentiment in the broader cryptocurrency market, as indicated by a neutral Fear & Greed Index of 54 and a recent month-long downtrend. Additional contributing factors include recent large-scale sales, such as the transaction involving 600 billion PEPE tokens valued at approximately $6.1 million, and decreased trading momentum following previous periods of heightened whale activity and social media-driven speculation. Despite a temporary boost from promotional campaigns and social mentions, such as Elon Musk's recent post, these influences have not reversed the overall downward trend.

Currently, PEPEUSDT remains volatile with support at $0.000010 and resistance at $0.000011, while trading volume has moderated compared to earlier peaks. The token's circulating supply stands at around 420 trillion, and the market continues to exhibit cautious sentiment with the potential for further short-term price fluctuations.