- Pepe is down 1.51% in the last 24 hours.
- A whale sold 217 billion PEPE tokens worth $4.54 million.
The last seven days, Pepe [PEPE] has made significant gains, up 13.07%.
These gains have increased profit margins for long-term and large holders. Consequently, investors, especially whales, have taken this opportunity to take profits.
According to SpotOnChaina smart whale sold 217 billion Pepe tokens worth $4.54 million via Kraken. After the sale, the whale made a profit of $767,000. Despite unloading these tokens, the whale still has 1.21 trillion Pepe tokens worth $25.1 million spread across two wallets.
When whales start selling, they usually maximize profits or avoid losses.
Impact on Pepe Charts
As expected, the increased sales activity has negatively affected Pepe’s price movements. At the time of writing, Pepe is trading at $0.00002049, down 1.51% on the daily charts.
However, it is worth noting that this decline is not solely due to whale activity; the entire market remains bearish.
Source: TradingView
To begin with, bearishness is evident from a bearish crossover on the Directional Movement Index (DMI). The memecoin made this crossover 48 hours ago, signaling strengthening downward momentum.
This downward pressure is further confirmed by a declining Advance-Decline Ratio (ADR), which has fallen below 1. When the ADR is below 1, it suggests that the memecoin is experiencing more losses than gains.
Source: Santiment
Moreover, the weighted sentiment of the memecoin remains negative. This suggests that there are more negative sentiments in the market than positive ones.
Source: Coinglass
Looking further, most investors are taking short positions. This is evident from the fact that short traders take up 55% of the total accounts.
With short traders dominating the market, it appears that traders are bearish and expect prices to fall further.
Source: Santiment
Finally, Pepe’s stock-to-flow ratio has fallen to zero, indicating oversupply. This suggests that there is currently an oversupply of the memecoin in the market, which could put downward pressure on prices.
Read Pepe’s [PEPE] Price forecast 2025–2026
Simply put, despite recent gains, the memecoin has not yet signaled a strong price recovery. Amid the aforementioned whale selling, sellers dominate the market and bears are in control.
Therefore, if these conditions hold, Pepe could fall to $0.000019. However, if a reversal occurs when buyers enter the market, the memecoin could recover $0.000021.
