- PEPE dropped 16.5% to $0.0000089, while whales quietly added 303.21 trillion tokens.
- Holding the $0.00000914 support may spark a bullish turnaround and prevent further decline.
- Exchange-held PEPE fell 2.97% to 247.32 trillion, hinting at growing long-term holder confidence.
PEPE has plunged 16.5% to $0.0000089, stirring uncertainty in the market. However, whale wallets have discreetly amassed 303 trillion Tokens, marking a 3.95% surge in holdings, a move that often signals brewing bullish potential.
Despite the sharp drop, analysts highlight this level as a critical inflection point. If the price stabilizes above $0.00000094, it could attract renewed retail momentum and spark a bullish turnaround. However, a breakdown below this support might deepen losses and shake investor confidence, leading to further downside pressure.
Data from Nansen shows that the top 100 PEPE wallets now hold 303.21 trillion tokens, an uptick from the previous month. Whale accumulation typically precedes explosive price swings as large holders anticipate rebounds. If the current support holds, this zone could become a pivotal launchpad for a potential bullish reversal.
Crucial Support Zone Holds the Key to Reversal
PEPE recently faced rejection at the resistance line of its descending channel, according to Crypto Avails. This barrier, supported by several moving averages, halted upward momentum. With that failure, the price is now drifting back toward the horizontal support around $0.00000914, intensifying bearish sentiment.
Holding above $0.00000914 may prevent a full bearish breakdown and offer a base for recovery. Until a decisive breakout from the descending channel occurs, downside pressure is likely to persist. Crypto Avails noted that an update would follow any significant shift in market structure.
At the same time, the amount of PEPE tokens held by the exchanges fell by 2.97% to 247.32 trillion. This outflow from the exchanges to the private wallets is usually an indication of a bullish market, as it shows lower short-term selling risk and higher holder conviction under uncertain conditions.
Also Read: PEPE Price Prediction 2025: Can the Meme Coin Bounce Back After a 13% Weekly Drop?
PEPE Chart Shows Reversal Pattern
The PEPE/USDT 30-minute chart has strong technical dynamics that are evident. At the end of June until July 1, PEPE went through a large price decrease, which was confirmed by lower highs and lows. The volume of the trade was also down at this time, an indicator of the end of the bearish market. However, the situation turned around on July 1 as a V-shaped recovery was registered.
The upward movement led to the price moving towards a level of $0.00000108 locally on July 3. Later, however, it seemed that a rounded top was formed, which meant that the bullish sentiment was easing and the sellers were gaining more control.
Also Read: Pepe Price Prediction: Can Whale Accumulation Push It to $0.0000012?
