Will PEPE make a breakout rally as whales accumulate 22 trillion tokens in Q1 2025, aiming to test the $0.000010 mark?

Amid growing volatility in the crypto market, rising fear has triggered a significant downturn in meme coins, causing the sector's valuation to fall to $46 billion.

The meme coin sector continues to struggle with growing volatility in the crypto market, leading to further price declines and testing of critical support levels.

As a result of the pessimistic market mood, the meme coin sector’s valuation has decreased to $46 billion.

Leading meme coins like Dogecoin, Shiba Inu, and PEPE have experienced setbacks as they retest key support to maintain the uptrend.

Over the past seven days, PEPE, the frog-themed meme coin, has fallen by 15%. It is currently trading at $0.0000072, with the potential for a further correction to the $0.0000050 level.

PEPE Price Analysis

On the daily chart, the PEPE price action reveals a prevailing downtrend leading to a long-standing resistance trendline. The decline reflects a pullback of more than 70%.

Notably, PEPE briefly rebounded from lows at $0.0000053. However, it is currently reencountering bearish pressure. It struggles against the resistance trendline and has formed a short-term expanding channel.

With an intraday recovery of nearly 3%, PEPE appears poised to bounce off the local support trendline. Yet, due to the recent failure to break through the resistance trendline, the MACD and signal lines are on the verge of a negative crossover.

Moreover, the daily RSI has fallen back below the halfway mark, showing a lateral trend. This indicates weakness in the market.

PEPE: A Closer Look

As the Relative Strength Index (RSI) approaches oversold levels, there is potential for a rebound in the token price. However, the Stochastic Oscillator has already crossed into oversold territory, suggesting that the selling momentum might continue.

Furthermore, the Moving Average Convergence Divergence (MACD) is nearing a bearish crossover, which could indicate a shift in momentum in favor of the sellers.

The token price is currently testing the lower Fib level, and a bounce from this point could be anticipated. However, if the Fib level is breached, the next support zone lies at the $0.0000050 mark.

PEPE: Key Resistance Levels

The token price is facing resistance at the 200-day Simple Moving Average (SMA), which could pose a challenge for the bulls.

If the 200-day SMA is broken, the next resistance level to watch out for is at the 0.382 Fib level. A move above this point could lead to a strong bullish trend.

PEPE: Key Support Levels

The token price is currently supported by the Fib level, which could provide a cushion for the bears.

If this support is breached, the next level to watch out for is at the round psychological price point of $0.0000050.

The token price is also supported by the 50-day SMA, which could provide an opportunity for the bulls to regain control of the trend.

PEPE: What to Expect Next

The direction of the next move will depend on the outcome of the current price action. If the sellers manage to break through the Fib level and continue pushing lower, then we could see a further decline to the $0.0000050 support zone.

However, if the buyers manage to defend the Fib level and push higher, then we could see a rally towards the 200-day SMA at around $0.0000093.

Ultimately, the direction of the PEPE price trend will depend on the balance of supply and demand. If there is more demand for the token than supply, then we could see the price continue to rise. However, if there is more supply than demand, then we could see the price continue to fall.

This analysis provides a technical overview of PEPE and does not necessarily reflect the opinion of The Crypto Basic or serve as financial advice.

Crypto Whale Sells 68.76 Billion PEPE Tokens After Two Years

This analysis includes a recent report by OnchainLens, which disclosed that a major crypto whale has sold 68.76 billion PEPE tokens for 271.33 ETH (valued at $509.5k).

The crypto whale had been holding the tokens for nearly two years and managed to make a profit of $427k. However, if the whale had sold at the peak price, they could have made an enormous profit of $1.79 million. The tokens were originally purchased for $82k on KuCoin.

The post Whales Dump 22 Trillion PEPE Tokens in Q1 2025 As A Major Holder Sells After Two Years