PEPE Falls 3% Amid Heavy Selling — But Whales Keep Buying 🐸📉

The meme coin market faced another hit today as PEPE dropped 3% in the past 24 hours, with volatility spiking to 7.74%. Traders dumped over 3.47 trillion tokens, pushing the coin to a low of $0.00001169 after an early high of $0.00001268. A brief bounce faded near the $0.00001206 resistance level, where sellers regained control.

Despite the sell-off, whale accumulation remains strong. On Ethereum, whales added 1.4% to their PEPE holdings over the past week, now sitting at 305.26 trillion PEPE, according to Nansen. Simultaneously, exchange balances dropped by 1.14%, suggesting long-term holding strategies are in play.

Technical analysis still leans bearish. Attempts to rally were capped by resistance at $0.00001267, and price action remains stuck in a consolidation zone. Until bulls push prices above key levels and absorb ongoing selling pressure, PEPE’s short-term trend is tilted downward.

Yet, the divergence between retail panic and whale confidence could signal a potential turnaround — if broader market conditions improve.

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