📊 Top Holders Begin Selling PEPE
Pepe Coin, the third-largest meme coin, has rebounded 40% from its December lows. However, data shows top holders are now scaling back, with their supply dropping from 45 billion to 39.78 billion tokens. Falling active addresses (-3.9%) and new wallet creation (-13.21%) suggest weakening investor confidence.
📉 Smart Money Investors Exit
The number of smart money holders has decreased from nearly 110 to just 90 in recent weeks. This signals that experienced investors anticipate further downside, contributing to selling pressure on PEPE.
📈 Bearish Technical Pattern Emerges
On the 4-hour chart, Pepe formed a double-top pattern near $0.00002190, a key resistance zone aligned with the 50% Fibonacci Retracement Level. Additionally, a rising wedge pattern has formed, hinting at an impending bearish breakout.
🎯 Key Price Targets for PEPE
If Pepe drops below the critical support of $0.00002020 and the 50-period MA, it could decline to $0.00001433, marking a potential 30% drop. Conversely, a breakout above $0.00002190 could invalidate this bearish outlook, pushing prices toward $0.00002535 (+22%).
⚠️ Investors Remain Cautious
With declining metrics and bearish patterns, Pepe remains vulnerable to further losses. Traders should watch these key levels for confirmation of the next major move.
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