The PEPE cryptocurrency, represented by the popular frog meme, has faced price fluctuations that have significantly impacted its market dynamics over the last 48 hours.
PEPE Falls Below Key Threshold
According to CoinMarketCap data, PEPE's price has declined by 10% in the past 24 hours due to a massive sell-off across the market. As of the time of writing, PEPE was priced at $0.000009658, representing an 8.58% drop from previous values.
Recent achievements of PEPE surprised many, as it previously reached highs of $0.00001033. However, the excited sentiment among investors led to a reversal, resulting in sharp selling pressure.
There is also a drop in trading volume - it decreased by 47.41% to $751.56 million in the same timeframe. This indicates weakened buying interest among investors.
Can Whale Holders Save PEPE's Price?
Since the decline of PEPE, it has been challenging to find stability above the $0.000010 level. The coin has lost approximately 60% from its all-time high (ATH) of $0.00002825 recorded in December 2024, making it one of the worst performers in the ecosystem in May.
Some analysts suggest that the recovery of the price outlook may depend on the actions of larger holders, known as whale holders. If they start accumulating PEPE instead of selling, it may help stabilize the price.
General Insights on PEPE's Condition
The current market shows that investors are increasingly favoring Bitcoin, which currently holds 64.6% of the market capitalization. This explains the significant number of sell-offs as investors seek greater stability. PEPE's market remains under pressure, and the upcoming actions of whale holders could play a critical role in the future developments.
The PEPE cryptocurrency is facing serious challenges amid market volatility and sell-offs. Its position remains vulnerable, and its future may depend on the actions of significant market players.
