Amid bearish market sentiment, the meme coin PEPE loses key support. Sales by an OG investor raise concerns about a price decline.
Crypto Whale Dumps 150 Billion PEPE
Lookonchain reported that amid market decline, a whale sold 150 billion PEPE tokens worth $1.14 million on Binance. The whale has sold 1.02 trillion tokens in total, earning $10.3 million.
Current Price Momentum
Currently, PEPE is trading around $0.0000073, marking a 5.50% decline in the last 24 hours. Trading volume has also dropped by 25%, indicating lower trader and investor participation.
PEPE Technical Analysis and Upcoming Level
Technical analysis shows PEPE appears bearish after a massive price drop. The chart indicates a breach of the lower boundary of the ascending channel. If the price remains below $0.0000075, a further decline to $0.00000585 is possible.
Under ongoing market pressure, PEPE faces risks of significant price drops. Sales by a major investor further exacerbate concerns.
