📉 Pepe Coin's recovery has stalled at a crucial resistance as whales continue selling. The token faces pressure as Ethereum struggles to move past $2,000, a key level that could impact meme coins like PEPE and $SHIB .
🐋 Data from Santiment shows whales dumped 41 trillion PEPE since February, with holdings dropping from 165T to 148.7T. The 90-day MDIA decline also suggests persistent selling pressure.
🔎 However, there are signs of stabilization. Whale supply has held steady since April 24, and PEPE tokens on exchanges dropped slightly, signaling easing sell pressure.
📊 Technically, Pepe formed a double-bottom at $0.00000572, with a neckline at $0.00000917. A breakout above the neckline could trigger an 87% rally toward $0.00001712.
⚠️ Conversely, failure to clear resistance risks a 40% plunge back to YTD lows, worsening the bearish outlook.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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