PEPE Price Faces A 20% Drop Amid Heightened Whale Selloffs

CoinMarketCap01-08 15:44

As Bitcoin (BTC) price slipped below the support range between $97k and $99k after teasing above $100k in the past few days, frog-themed memecoin, Pepe (PEPE), suffered palpable losses in the last 24 ...

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The mid-cap memecoin, with a fully diluted valuation of about $7.6 billion and a 24-hour average trading volume of about $2 billion, dropped over 11 percent in the past 24 hours to trade about $0.00001816 on Wednesday, during the early European session.As a result of the heightened volatility, more than $5.6 million was liquidated from the leveraged Pepe market, with over $4.9 million involving long traders. Moreover, the majority of the memecoin projects registered a double percentage digit loss in the last 24 hours.Major Factors that Attributed to Pepe Price Drop Today. The notable decline of Pepe's price in the recent past is majorly attributed to the whale shakeouts. For instance, a whale investor with 1 trillion Pepe units, worth over $18 million,depositedover 427 billion Pepe units, with","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","BK4588":"碎股","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","BK4162":"人寿与健康保险","RSI":"Rush Street Interactive, Inc.","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","LU2063271972.USD":"富兰克林创新领域基金","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","LU2092627202.USD":"Blackrock ESG Multi-Asset A8 USD-H","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK4581":"高盛持仓","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","ATH":"Athene Holding Ltd","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1691799644.USD":"Amundi Funds Polen Capital Global Growth A2 (C) USD","LU0557290698.USD":"施罗德环球可持续增长基金","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","MA":"万事达","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","BK4106":"数据处理与外包服务","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","BTC":"Grayscale Bitcoin Mini Trust","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0109391861.USD":"富兰克林美国机遇基金A Acc"},"translate_title":"由于鲸鱼抛售加剧，PEPE价格面临20%的下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RSI":1,"MA":1,"ATH":1,"BTC":1},"content_text":"As Bitcoin (BTC) price slipped below the support range between $97k and $99k after teasing above $100k in the past few days, frog-themed memecoin, Pepe (PEPE), suffered palpable losses in the last 24 hours. The mid-cap memecoin, with a fully diluted valuation of about $7.6 billion and a 24-hour average trading volume of about $2 billion, dropped over 11 percent in the past 24 hours to trade about $0.00001816 on Wednesday, during the early European session.\nAs a result of the heightened volatility, more than $5.6 million was liquidated from the leveraged Pepe market, with over $4.9 million involving long traders. Moreover, the majority of the memecoin projects registered a double percentage digit loss in the last 24 hours.\nMajor Factors that Attributed to Pepe Price Drop Today\nThe notable decline of Pepe's price in the recent past is majorly attributed to the whale shakeouts. For instance, a whale investor with 1 trillion Pepe units, worth over $18 million, deposited over 427 billion Pepe units, with around $8.45 million to Kraken in the last two days. Worth noting that the Pepe whale has accrued an estimated profit of about $13.45 million.\nAccording to on-chain data analysis provided by Dexscreener, Pepe traded in the past 24 hours majorly involved more sellers than buyers. Out of the $3.3 million Pepe traded on DeFi protocols, around $2 million involved sellers.   [post_titles_links postid=\"402898\"]  \nMidterm Targets\nAfter dropping below the 50-day Moving Average (MA), Pepe's price has entered a slippery slope that could lead to further losses in the coming days. Although Pepe's price is in a macro bull run in the weekly time frame, the memecoin faces a midterm drop of between 10-20 percent before rebounding towards a new all-time high (ATH).\nFurthermore, the daily Relative Strength Index (RSI) slipped below the 50 percent level, suggesting the sellers have overtaken the buyers in the midterm. However, Pepe and the rest of the crypto industry are highly anticipating the inauguration of US president-elect [popover-profile type=\"person\" name=\"donaldtrump\"] to kickstart the next bullish trend phase.   [article_inside_subscriber_shortcode title=\"Never Miss a Beat in the Crypto World!\" description=\"Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.\" category_name=\"News\" category_id=\"6\"]  \nFAQs\n\nIs PEPE coin worth buying now?\nPEPE coin is facing short-term volatility but could rebound. Consider risks before investing, as it might drop further before hitting new highs.\n\nIs PEPE coin a good investment?\nWhile PEPE shows potential for recovery, consider waiting for signs of stabilization after the current price decline for better long-term prospects.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2501714915"}