- If the bearish momentum continues, PEPE could see a 15% price decline to the $0.0000111 level.
- The major liquidation levels for PEPE are $0.00001259 on the lower side and $0.00001351 on the upper side.
It seems that profit booking has begun in Pepe [PEPE], as whales have recently dumped billions of coins while the price continued to decline.
As of the 30th of May, with an 11% price dip, PEPE appeared bearish and poised for massive downside momentum in the coming days.
At press time, PEPE was trading near $0.0000128. During this period, traders and investors appeared fearful and avoided participation, resulting in a 15% drop in trading volume, according to CoinMarketCap.
Whale offloads 502 billion PEPE
Following the dip in PEPE’s price, a crypto whale offloaded 502.5 billion coins worth $6.47 million to Binance, securing a profit of $7.47 million.
This impressive gain was achieved in just one month, as the tokens were acquired in late April or early May 2025. Despite the substantial sell-off, the whale still holds 497.5 billion PEPE coins, valued at $6.41 million.
However, this sell-off by whales came during the period when PEPE broke down from an ascending triangle price pattern, turning the sentiment bearish.
Price action and technical analysis
According to AMBCrypto’s chart analysis, following the breakdown, the memecoin has turned bearish and appears poised to continue its downside momentum in the coming days.
Source: TradingView
Based on the daily and four-hour charts, if this downward trend continues, PEPE could see a 15% price decline, potentially reaching the next support level at $0.0000111 and the 200-day Exponential Moving Average (EMA).
As of press time, PEPE’s Relative Strength Index (RSI) stood at 52, indicating that the token was in a neutral zone with neither overbought nor oversold conditions, suggesting a balanced momentum.
PEPE’s on-chain metrics
During this period, whale participation has skyrocketed. Data from the on-chain analytics tool IntoTheBlock revealed that PEPE’s large transaction volume, typically linked to whales and institutions, has soared by 4.09%.
This uptick raises questions about whether these whales are positioning themselves for a bearish outlook or if they’re seizing the opportunity to accumulate PEPE at lower prices.
Major liquidation levels
The major liquidation levels were at $0.00001259 on the lower side (support) and $0.00001351 on the upper side (resistance), with traders appearing over-leveraged.
Source: CoinGlass
Currently, traders have built $2.39 million worth of long positions and $7.65 million worth of short positions at these levels, which could be liquidated if the price moves in either direction.
