PEPE Coin (PEPE) Crashes 17% in a Day as Whales Dump Trillions of Tokens

Pepe Coin (PEPE) is currently trading around $0.000012, following a 17% drop in the past 24 hours and a 28% decline last week.

Pepe Coin (PEPE) has seen a rough couple of days with a 17% price drop in the past 24 hours. This brings the total loss to 28% in the past week. The token is currently trading at around $0.000012.

This sustained downturn has raised concerns among investors, as the token struggles to regain stability. A significant contributor to this ongoing price crash appears to be selling pressure from whales, who have reportedly offloaded over a trillion PEPE tokens in recent days.

The primary factor behind PEPE's steep decline is the massive sell-off by whale investors, who hold large quantities of the token. These sell-offs not only increase the circulating supply but also shake market confidence, leading to panic selling among retail investors.

Moreover, the lack of strong utility for PEPE and its dependence on hype-driven momentum makes it particularly vulnerable to volatility. As whales exit their positions, they create a domino effect, causing further price drops and leaving investors wondering how much lower the token can go.

If the selling pressure continues unabated, PEPE's price could test lower support levels. Given the token's volatility and the selling pressure, it's difficult to predict precise price points. However, key psychological levels to watch include $0.000010 and potentially lower. If these support zones are breached, it could trigger a further drop, as panic selling accelerates.

For PEPE to stabilize or recover, a few scenarios might play out. On the one hand, if the selling pressure eases and the broader market conditions improve, PEPE could regain some stability and attempt to regain some of its lost value.

On the flip side, if the selling pressure continues and no positive developments arise, PEPE could see further losses, potentially pushing it into oversold territory.