Pepe Coin Price at Risk of a 53% Crash as Whale Buying Slows
The post Pepe Coin Price at Risk of a 53% Crash as Whale Buying Slows appeared on BitcoinEthereumNews.com. Pepe Coin price continued dropping today, July 30, as most meme coins plunged. It is in the second consecutive week in the red, and technicals point to a deeper dive after forming the highly bearish head-and-shoulders pattern. The bearish Pepe price forecast is also based on the fact that whales have stopped or paused their recent accumulation. Pepe Coin Price Weekly Chart Points to a Bearish Breakdown The weekly chart shows that the Pepe Coin price surged and peaked at a record high of $0.00002815, its highest swing in December last year. It then plunged and found a bottom at $0.000005678. A closer look shows that the token has formed the highly bearish head-and-shoulders pattern. This pattern’s head is at $0.00002815, while the right and left shoulders are at $0.00001700. The neckline is at $0.000005678. This pattern often leads to a strong bearish breakdown over time. The price target is usually established by measuring the distance between the head and the neckline and then the same one from the neckline. In Pepe’s case, the distance between the head and the neckline is about 80%. Measuring the same distance from the neckline yields a target price of $0.000001092, which is approximately 90% lower than the current level. This target price is the lowest it has been since February last year and will be confirmed if it moves below the neckline. The bearish Pepe price forecast 2025 will become invalid if it jumps above the right shoulder at $0.00001700. Soaring above that level will point to more gains, potentially to the all-time high of $0.00002815. Pepe Coin Price Chart Whale Accumulation is Slowing On-chain data shows that the momentum among whales and smart money investors is slowing. While whale accumulation has jumped by 10% in the last 30 days to 8.85 trillion,…
The post Pepe Coin Price at Risk of a 53% Crash as Whale Buying Slows appeared on BitcoinEthereumNews.com.
Pepe Coin price continued dropping today, July 30, as most meme coins plunged. It is in the second consecutive week in the red, and technicals point to a deeper dive after forming the highly bearish head-and-shoulders pattern. The bearish Pepe price forecast is also based on the fact that whales have stopped or paused their recent accumulation. Pepe Coin Price Weekly Chart Points to a Bearish Breakdown The weekly chart shows that the Pepe Coin price surged and peaked at a record high of $0.00002815, its highest swing in December last year. It then plunged and found a bottom at $0.000005678. A closer look shows that the token has formed the highly bearish head-and-shoulders pattern. This pattern’s head is at $0.00002815, while the right and left shoulders are at $0.00001700. The neckline is at $0.000005678. This pattern often leads to a strong bearish breakdown over time. The price target is usually established by measuring the distance between the head and the neckline and then the same one from the neckline. In Pepe’s case, the distance between the head and the neckline is about 80%. Measuring the same distance from the neckline yields a target price of $0.000001092, which is approximately 90% lower than the current level. This target price is the lowest it has been since February last year and will be confirmed if it moves below the neckline. The bearish Pepe price forecast 2025 will become invalid if it jumps above the right shoulder at $0.00001700. Soaring above that level will point to more gains, potentially to the all-time high of $0.00002815. Pepe Coin Price Chart Whale Accumulation is Slowing On-chain data shows that the momentum among whales and smart money investors is slowing. While whale accumulation has jumped by 10% in the last 30 days to 8.85 trillion,…
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