- PEPE’s price dropped 13.49%, with market volatility increasing and trading volume surging by 262%.
- Whale wallet transaction sparks concerns, with 196.1 billion PEPE sold for $1.3 million.
The leading memecoin, PEPE faced a major 13.49% price drop during the last 24 hours and traded at $0.000006081. The current market capitalization stands at $2.55 billion. The price decline of PEPE did not deter investors as they bumped up the 24-hour trading volume by 262% to $1.11 billion. Market interest increases rapidly due to increased trading volume despite price changes in the cryptocurrency. During the last day PEPE maintained prices within a narrow range from $0.00000785 up to $0.000007052.
Further, last week, investment analysts have taken notice of the substantial market changes in the PEPE market. The whale wallet ‘0x373…’ conducted a significant massive transaction which involved the sale of 196.1 billion PEPE tokens totaling $1.3 million value. The tokens were sold at an average price of $0.000006641 each.
This significant transaction has raised concerns about the future performance and stability of PEPE. Large transactions like this can often impact market sentiment and price trends. However, the price decrease in the PEPE Coin comes as the global crypto market faces a huge sell-off following President Donald Trump’s new import tariffs, including a 10% duty on all U.S. products, while Chinese and Vietnamese imports face tariffs exceeding 50%. The newly announced tariff measures have spiked fears about potential U.S. recessions while worsening marketplace conditions.
Bearish Indicators and Key Levels Define PEPE’s Short-Term Outlook
The technical indicators reveal that PEPE demonstrates bearish market forces. The Moving Average Convergence Divergence indicator reveals negative market trends because its short-term blue line rests underneath its long-term orange line. Data suggests the price will likely continue to decrease because of existing bearish market conditions. The CMF indicator demonstrates a value of 0.05 which shows that buyers have weak interest in PEPE.
The price support point for PEPE exists at $0.00006000 with simultaneous resistance set at $0.00006330. PEPE faces the possibility of advancing its price by overcoming resistance at $0.00006330 yet it will explore lower support indicators on resistance failure. A price increase for PEPE becomes possible when the coin surpasses its $0.00006330 resistance level and the following target sets at $0.00007000.
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