🐸 Is the $PEPE Coin Price Recovery at Risk as Whales Dump 41 Trillion Tokens?

📉 Pepe Coin's recovery has stalled at a crucial resistance as whales continue selling. The token faces pressure as Ethereum struggles to move past $2,000, a key level that could impact meme coins like PEPE and $SHIB .

🐋 Data from Santiment shows whales dumped 41 trillion PEPE since February, with holdings dropping from 165T to 148.7T. The 90-day MDIA decline also suggests persistent selling pressure.

🔎 However, there are signs of stabilization. Whale supply has held steady since April 24, and PEPE tokens on exchanges dropped slightly, signaling easing sell pressure.

📊 Technically, Pepe formed a double-bottom at $0.00000572, with a neckline at $0.00000917. A breakout above the neckline could trigger an 87% rally toward $0.00001712.

⚠️ Conversely, failure to clear resistance risks a 40% plunge back to YTD lows, worsening the bearish outlook.

⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.