PEPE Whale Deposits $6.47M to Binance Amid 11% Price Drop
PEPE, the frog-themed meme coin, has experienced a significant decline of approximately 11%, trading at $0.00001288. Its market capitalization has decreased by over $650 million to $5.42 billion.
Key developments include:
- A whale (0x3c9E) deposited 502.5 billion PEPE tokens worth $6.47 million on Binance but retains 497.5 billion PEPE valued at $6.41 million.
- This whale has realized a profit of $7.47 million in one month, raising concerns about a potential sell-off.
- The RSI indicates that PEPE is nearing an oversold condition.
- Immediate support is found in the $0.0000120–$0.0000124 range; a break below could see prices drop to $0.0000100.
- Resistance levels are identified at $0.0000135 and $0.000015.
- The MACD shows a bearish crossover, indicating further downward movement may occur.
Despite recent declines, PEPE remains among the largest meme coins by market cap, maintaining a strong market presence. Analysts note that a breakout above $0.000013 could signal a bullish trend, potentially targeting the $0.000025 area.
PEPE price chart with RSI and Bollinger Bands | Source: Trading View
PEPE price chart with MACD | Source: Trading View