- Pepe has declined by 1.51% over the past 24 hours.
- A whale has sold 217 billion PEPE tokens worth $4.54 million.
Over the past seven days, Pepe [PEPE] has seen significant gains, rising by 13.07%.
These gains have boosted profit margins for long-term and large holders. Consequently, investors, particularly whales, have taken this opportunity to take profits.
According to SpotOnChain, a smart whale sold 217 billion Pepe tokens worth $4.54 million through Kraken. After the sale, the whale secured a profit of $767,000. Despite offloading these tokens, the whale still holds 1.21 trillion Pepe tokens worth $25.1 million across two wallets.
Typically, when whales start selling, they are either maximizing profit or avoiding losses.
Impact on Pepe charts
As expected, increased selling activity has negatively affected Pepe’s price movement. As of this writing, Pepe is trading at $0.00002049, marking a 1.51% decline on daily charts.
However, it’s worth noting that this decline is not solely due to whale activity; the entire market remains bearish.
Source: TradingView
For starters, the bearishness is evident from a bearish crossover on the Directional Movement Index (DMI). The memecoin made this crossover 48 hours ago, signaling a strengthening downward momentum.
This downward pressure is further confirmed by a declining Advance-Decline Ratio (ADR), which has dropped below 1. When the ADR is below 1, it suggests that the memecoin is experiencing more losses than gains.
Source: Santiment
Additionally, the memecoin’s weighted sentiment remains negative. This suggests that there are more negative sentiments in the market than positive.
Source: Coinglass
Looking further, most investors are taking short positions. This is evidenced by the fact that short traders are taking 55% of the total accounts.
With short traders dominating the market, it shows that traders are bearish and anticipate prices to drop further.
Source: Santiment
Finally, Pepe’s stock-to-flow ratio has dropped to zero, indicating an oversupply. This suggests that the memecoin is currently oversupplied in the market, which could cause downward pressure on its prices.
Read Pepe’s [PEPE] Price Prediction 2025–2026
Simply put, despite the recent gains, the memecoin has yet to signal a strong price recovery. Amidst the whale sale mentioned earlier, sellers are dominating the market, and bears are in control.
Therefore, if these conditions hold, Pepe could drop to $0.000019. However, if a reversal occurs with buyers entering the market, the memecoin could reclaim $0.000021.
