PEPE Price at Risk: $3.8M Whale Dump Fuels Fresh Sell-Off

Getting your Trinity Audio player ready...

• A long-term whale sold 858B PEPE worth $3.88M.
  
• Top holders collectively offloaded 4.25T tokens.
  
• $0.0000051 remains the key level for any bullish recovery.

Pepe (PEPE) is under growing pressure as sellers tighten their grip on the memecoin market. After failing to break above $0.00000688 two weeks ago, PEPE has remained trapped inside a descending channel, with the broader market crash accelerating its decline. Price action and on-chain data now point to weakening confidence, even among long-term whales.

At the time of writing, PEPE trades near $0.00000454, down more than 5% on the day and extending a week-long slide.

Whale Sell-Off Sparks Fresh Concerns

A long-term whale who had held PEPE since October returned to the market with a major sell. The investor offloaded 858 billion tokens, worth roughly $3.88 million, after more than a year of inactivity. Despite the sale, the wallet still controls about 842 billion PEPE valued near $3.82 million.

This move appears to have triggered broader caution among large holders. Data from Nansen shows top wallets collectively shed 4.25 trillion PEPE following the market dip. Such behavior often reflects fear of further downside and can intensify selling pressure by increasing available supply.

Whale distribution during an existing downtrend typically undermines short-term recovery attempts, especially for highly speculative assets like memecoins.

Spot Market Shows Aggressive Selling

Trading activity confirms that sellers remain in control. On January 30, PEPE’s sell volume fell to 4.46 trillion tokens from 6.56 trillion the previous day, while buy volume dropped to 3.79 trillion from 5.72 trillion.

Across both days, the buy-sell delta stayed negative, indicating that sell orders consistently outweighed buying interest. This imbalance highlights ongoing spot market distribution rather than accumulation, a pattern that rarely supports a sustained bounce.

Technical Indicators Point to Continued Weakness

Momentum signals are flashing bearish. PEPE’s Stochastic RSI has made a bearish crossover and slid to 13.5, placing it deep in oversold territory. While oversold conditions can sometimes precede relief rallies, they more often reflect strong downward momentum during heavy sell-offs.

Price also remains below the 20, 100, and 200 exponential moving averages, confirming a firmly bearish structure across short- and long-term timeframes.

If sellers continue to dominate, PEPE could slide toward the $0.0000043 support zone in the near term.

Also Read: PEPE: Analyst Predicts Pepe Coin Could Soar 40X to $0.00039 Despite Whale Sell-Off

For any meaningful bullish reversal, PEPE needs to reclaim $0.0000051 on a daily closing basis. That level aligns with the 20 EMA and serves as immediate resistance. A break and hold above it could signal stabilizing momentum, though broader market conditions would still play a major role.

Until then, whale outflows, weak spot demand, and bearish technicals suggest downside risks remain elevated.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.