Massive Whale Sell-Offs
Large holders, known as “whales,” have offloaded over 1.1 trillion PEPE tokens recently. Notable transactions include:
• A whale depositing 430 billion PEPE (approximately $6.39 million) to Binance.
• Another transferring 325.5 billion PEPE (around $4.9 million) to Binance.
• A third selling 200.88 billion PEPE for $2.85 million in USDC.
These substantial sell-offs have increased market supply and exerted downward pressure on PEPE’s price.  
2. Developer Team Token Sales
The PEPE development team sold 21.49 billion tokens (worth approximately $355,000) after a significant price surge. This move has raised concerns about potential future sell-offs and market stability. 
3. Declining On-Chain Activity
On-chain metrics indicate a decrease in daily active addresses and trading volume for PEPE, suggesting waning investor interest and engagement. Such declines often precede or accompany price drops. 
4. Technical Indicators Point to Bearish Trends
Technical analysis reveals bearish patterns, including a descending triangle formation, which often signals potential further declines. Key support levels to watch are $0.00000782 and $0.0000060; breaching these could lead to more significant losses. 
5. Broader Market Corrections
The overall cryptocurrency market has faced a downturn, with Bitcoin dropping below $100,000. Such market-wide corrections can amplify declines in altcoins like PEPE. 
As of now, PEPE is trading at approximately $0.000012, reflecting a 17% decline in the past 24 hours. 
Investors should exercise caution and monitor market developments closely. While meme coins can experience rapid gains, they are equally susceptible to swift declines. 
