Leading meme coin PEPE Coin has faced a dramatic decline, losing 60% from its December peak. However, analysts suggest there is potential for a price rebound.
Whale Sell-Offs and Price Decline
On-chain data shows over 1.1 trillion PEPE tokens have been sold recently. Crypto analytics firm Lookonchain revealed significant whale transactions, including a single wallet depositing 430 billion PEPE into Binance within nine hours. These sales intensified selling pressure and lowered the price further.
Can PEPE Recover?
Some analysts believe PEPE could be poised for a reversal. Key metrics like the Market Value to Realized Value (MVRV) ratio indicate the price has entered a buy zone. Additionally, data from Santiment shows PEPE’s exchange reserves have decreased, often a sign of long-term holding intentions.
PEPE’s Future Hinges on Market Conditions
PEPE’s short-term movements remain tied to broader market sentiments. If the market stabilizes and meme coin hype resurges, PEPE might regain momentum. However, competition from new meme coins and regulatory uncertainty in the U.S. could impact its growth.
PEPE Coin remains a high-risk, high-reward asset. Investors should closely monitor whale activity and support levels before making trading decisions.
