PEPE, the popular memecoin, is under pressure as large holders begin to offload their positions. On May 30, a major whale sold 502.5 billion PEPE tokens worth $6.47 million on Binance, booking an impressive $7.47 million profit in just one month. Despite the sell-off, the whale retains 497.5 billion coins, valued at approximately $6.41 million. This profit-taking comes at a time when PEPE’s price dipped 11%, trading near $0.0000128 at press time, suggesting that investor sentiment has turned cautious.
PEPE whale 0x3c9E deposited 502.5B $PEPE($6.47M) to #Binance 20 minutes ago and still holds 497.5B $PEPE($6.41M).
— Lookonchain (@lookonchain) May 30, 2025
This whale has made a profit of $7.47M on $PEPE in just one month.https://t.co/VmJwGGQUWb pic.twitter.com/1w5EdOeksT
CoinMarketCap data revealed a 15% drop in trading volume, indicating that retail participants are stepping back amid growing uncertainty. The large-scale dump coincided with PEPE breaking below an ascending triangle pattern, a technical signal often associated with downward momentum.
Bearish Technicals Hint at Further Downside
According to TradingView and AMBCrypto’s analysis, PEPE appears poised for continued losses. If the current bearish trend persists, the price could fall an additional 15%, targeting the next support level at $0.0000111—coinciding with the 200-day Exponential Moving Average (EMA).
The Relative Strength Index (RSI) currently sits at 52, placing the token in a neutral zone. This suggests there is room for movement in either direction, though the broader sentiment and technical signals favor the downside. Additionally, on-chain metrics from IntoTheBlock showed a 4.09% surge in large transaction volumes, indicating increased activity from whales and institutions—potentially either to exit or accumulate at lower prices.
Also Read: James Wynn Plans Big Comeback with 10x PEPE Coin Bet After $37 Million Bitcoin Loss
Leverage Builds Amid Key Liquidation Levels
Traders remain over-leveraged at critical liquidation points. According to CoinGlass, PEPE’s major liquidation levels are clustered at $0.00001259 (support) and $0.00001351 (resistance). At these thresholds, $2.39 million in long positions and $7.65 million in short positions are at risk of liquidation, depending on price movements.
The imbalance reflects heightened risk in the market, with short sellers currently dominating. As PEPE continues to hover near key support, the next move could trigger a wave of liquidations—adding volatility to an already tense trading environment.
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
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