Pepe Coin Plunges 76% on Bearish Signals and Whale Exits
Pepe Coin has plunged 76% since its November high, trading near $0.0000067 after breaching critical support at $0.0000091. Multiple bearish technical patterns—head-and-shoulders, descending triangle and a death cross—have formed alongside the price falling below both 50-day and 200-day levels and the Ichimoku cloud.
Futures open interest has collapsed from over $1.02 billion in July to roughly $250 million, while daily volume slid from $5 billion to under $600 million. On-chain metrics reveal whales cut PEPE holdings by 20% in 30 days (and 28% over 90 days), and public investors slashed positions by up to 72%. Negative funding rates further underscore waning demand.
Initial downside targets lie at $0.00000575, with a deeper drop toward $0.00000279 or even $0.00000154 possible if support fails. Traders should watch the $0.00000911 level for any bounce. Overall, broad selling pressure and weakening fundamentals point to a sustained bearish trend for Pepe Coin.
Bearish
Pepe Coin’s sharp decline is driven by converging bearish indicators. Technically, the breach of key supports, formation of head-and-shoulders and death cross patterns, along with weakening RSI and position below the Ichimoku cloud, signal strong downward momentum. On-chain data accentuate the sell-off, with whales and public investors drastically reducing holdings, while open interest and volume have collapsed, indicating shrinking trader commitment and liquidity.
In the short term, these factors may trigger further stops and deep dips toward the outlined targets at $0.00000575 or lower. Long term, sustained low demand and persistent negative funding rates could prolong the bearish cycle, postponing any meaningful recovery unless fundamental sentiment shifts.