PEPE price outlook: $4.8M dump tests support, resistance near $0.00001 in focus
- Whale offloaded 500B PEPE ($4.8M), briefly pulling price under $0.0000094.
- PEPE outperformed peers, while meme coin market sank 3%.
- Whale holdings on Ethereum up 1.46% over the past month.
The meme coin market took a jolt on Monday when a big PEPE holder dumped about $4.8 million worth of tokens, sending the price down.
Even with that sell-off, PEPE is still holding up better than most of the meme coin pack, a sign that investors haven’t lost faith in it just yet.
Market data shows that one big PEPE wallet moved 500 billion tokens, worth about $4.8 million over to Binance, signaling a major sell or reshuffle.
The same whale has been in a slump for weeks, down around $450,000 on earlier PEPE trades, and big moves like this often shake up liquidity and prices.
Right after the transfer, PEPE slipped about 1% on the day, falling from highs near $0.00000992 to around $0.00000938 before clawing back some ground.
It’s still...
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