PEPE Price Drops as Whale Deposits $6.43 Million into Binance
PEPE Price Movement
- PEPE increased by 3.5% in 24 hours, trading at $0.00001110.
- Trading volume dropped over 40%, indicating bearish pressure.
Market Patterns
- PEPE has been in a descending channel since May 10, forming a potential bull flag.
- Price consolidation is between $0.000010 and $0.000014 after a spike to $0.000015.
- Chaikin Money Flow (CMF) below zero indicates selling pressure.
- Balance of Power (BoP) at -0.52 shows seller dominance.
- A death cross formed with the 50-day EMA falling below the 20-day EMA.
Whale Activity
- A whale deposited 609 billion PEPE tokens (~$6.43 million) into Binance.
- The whale still holds 1.21 trillion PEPE (~$12.77 million).
- Centralized exchange deposits are often linked to profit-taking or distribution events.
Technical Indicators
- Relative Strength Index (RSI) at 47 indicates weak buying momentum.
- MACD suggests a neutral to bearish outlook; no bullish crossover observed.
- Price is between Fibonacci levels of 0.382 ($0.00001325) and 0.236 ($0.00001202).
- A break below $0.000010 could lead to further declines towards $0.00000888 or $0.0000079.
- A breakout above the flag could target $0.000016, with potential extensions to $0.0000245 and $0.0000323.