The once-celebrated meme coin Pepe is now under serious pressure, with signals pointing to a potential massive price collapse. A wave of sell-offs by so-called Smart Money investors and a cooling memecoin market suggest that a major shift could be underway. As traders pivot to other projects, Pepe may be the next victim.
🔻 Smart Money Selling: A Red Flag for the Market
Pepe Coin has already dropped 70% from its all-time high in 2024 — and analysts warn that the worst may be yet to come, with projections pointing to a possible 90% correction. The sell-off is being led by seasoned investors who are known for buying early and exiting before retail traders catch on.
According to data from Nansen, as of May 7, only 17 Smart Money wallets held Pepe tokens — down from 32 in November. Their combined holdings have fallen from 4.24 trillion tokens in June to just 2.79 trillion today.
📉 Ethereum’s Struggles Are Dragging Pepe Down
Pepe is the second-largest meme coin on Ethereum, right behind Shiba Inu, meaning its fate is closely tied to ETH. But Ethereum itself has dropped from a high above $4,000 to $1,800, and further declines could fuel even more sell-offs for Pepe.
🚀 Investors Are Flocking to Solana
Another key factor is the shift of investor capital to Solana. Memecoins like Dogwifhat, Fartcoin, and Bonk have seen double-digit gains in recent weeks — attracting liquidity and attention away from Ethereum-based assets like Pepe.
📊 Technical Analysis: Bearish Flag and Rising Wedge
On the 3-day chart, Pepe peaked in December at $0.00002825, reaching a market cap of over $10 billion. Since then, it has been in freefall, and technical indicators are flashing red.
Pepe broke below a rising channel and formed a rising wedge — a pattern that often precedes a bearish breakdown. The coin is also trading below its 50-day moving average, further supporting the bearish outlook.
🔻 The likely scenario? A collapse toward $0.0000009618, nearly 90% below the current price.
⚠️ What Could Change the Trend?
To avoid this fate, Pepe must break through the strong resistance at $0.00001057. A successful breakout could push it toward the next major level at $0.000017, last seen in May 2023.
📌 Summary:
🔹 Pepe Coin has dropped over 70% since December
🔹 Smart Money investors are exiting rapidly
🔹 Ethereum weakness and Solana memecoin hype are draining liquidity
🔹 Technicals suggest a possible 90% crash
🔹 Only a breakout above key resistance could save it
#PEPE , #pepecoin🐸 , #BEARISH📉 , #MemeCoinMarket , #CryptoNewss
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