PEPE dropped modestly by 0.31% in the past 24 hours, trading at $0.00000967, as a major whale reportedly offloaded a $4.8 million stake. The sale triggered cautious sentiment across the market, yet the token continues to outperform most of the broader memecoin sector.
On the 4-hour chart, PEPE has found stability near its green support zone between $0.00000950 and $0.00000970. This level has repeatedly acted as a floor over the past weeks, attracting dip buyers.
The downside remains protected here, but any break below $0.00000950 could expose the coin to a deeper pullback toward $0.00000800. On the upside, PEPE faces immediate resistance at $0.00001250, followed by a heavier supply zone around $0.00001450, where sellers have historically capped momentum.
“PEPE is currently testing a crucial demand area. If it can hold above $0.00000950, there’s potential for a bounce back toward the $0.00001200–$0.00001300 range,” BITX technical strategist observed.
The whale sale of $4.8 million worth of PEPE created concern among short-term traders. Large wallet movements often raise fears of profit-taking or distribution phases. Still, analysts argue that PEPE’s liquidity and strong community backing allow it to absorb such selling pressure better than many smaller-cap memecoins.
“The whale exit is significant but not necessarily bearish for the long term. Strong hands are still accumulating, and PEPE continues to maintain higher lows compared to many memecoins that have lost momentum entirely,” BITX market analyst explained.
Despite the whale-driven volatility, PEPE remains a top performer in the memecoin space. Holding the $0.00000950 support will be critical for bulls aiming to stage a recovery. If buyers manage to regain control, a move back into the $0.00001200–$0.00001450 range is possible in the coming sessions.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.