During the continuous market morale, Pepe (PEPE), the third largest Mimi currency in the world, lost its main support and is preparing to drop huge prices. Meanwhile, on March 29, 2024, the Blockchain Lookonchain Analysis Company was published on X (previously on Twitter) that the OG Pepe-is an early investor in Meme-delivered by billions of full symbols, raising fears of a significant decrease in the price.
Crypto Whale Dumbs 150 billion Pepe
In a post on X, Lookonchain noted that amid this market drop, the whale sold 150 billion Pepe icons worth $ 1.14 million on the Binance Cryptocurrency.
The publication also stated that so far, this whale sold 1.02 trillion Pepe Meme coins for $ 6.66 million, which achieves a total profit of $ 10.3 million, equivalent to 4,718X.
The OG investor spent only $ 2,184 to buy PEPE 1.5 trillion icons in the early stages. However, due to the headquarters of the declining market and the continuous low prices, the whale began to sell its huge property.
Current price momentum
With all this, Pepe is currently trading near $ 0.0000073 and a decrease in prices to more than 5.50 % in the past 24 hours. Meanwhile, during the same period, the trading volume decreased by 25 %, indicating a decrease in participation from merchants and investors compared to the previous day.
Pepe technical analysis and the next level
According to expert technical analysis, PEPE looks down after a tremendous decrease in price. The four -hour Meme Coin chart reveals that Pepe was moving in the style of an ascending channel, but with the last price drop, the bottom boundaries of the canal and closed a daily candle lower than this level.
Based on the latest procedures for historical prices and patterns, if the Meme currency remains less than 0.0000075 dollars, there is a strong possibility that can decrease by 20 % to reach a level of $ 0.00000585 in the future.
