Pepe Coin drop 76% on bearish signs and whale dem waka
Pepe Coin don drop 76% since e peak for November, e dey trade near $0.0000067 after e break important support for $0.0000091. Plenti bearish technical patterns—head and shoulders, descending triangle plus death cross—don form as price don fall below both 50-day and 200-day levels and Ichimoku cloud. Futures open interest don collapse from above $1.02 billion for July to about $250 million, plus daily volume don slide from $5 billion to under $600 million. On-chain metrics show say whales reduce PEPE holdings by 20% for 30 days (and 28% over 90 days), and the public investors slash dem position reach 72%. Negative funding rates still dey show say demand dey fall. First downside targets dey for $0.00000575, e fit drop even more to $0.00000279 or even $0.00000154 if support no hold. Traders suppose dey watch $0.00000911 level for any bounce. Overall, wide selling pressure and weak fundamentals show say Pepe Coin get continuing bearish trend.
Bearish
Pepe Coin sharp fall na na driven by di different bearish indications wey con meet. Technically, di break for key supports, head-and-shoulders and death cross patterns wey form, with weakening RSI and position under Ichimoku cloud, dey show strong downward momentum. On-chain data dey make di sell-off strong, as whales and public investors don reduce holdings sharply, meanwhile open interest and volume don collapse, wey mean trader commitment and liquidity dey reduce. For short term, dis kin thing fit make more stops and deep drops go di target wey dem don talk for $0.00000575 or lower. For long term, as demand go low steady and negative funding rates go continue, di bearish wahala fit drag long, no meaningful recovery go happen unless fundamental sentiment change.