Is PEPE About to Pull Off a Dramatic Comeback or Just Another Flop? 🐸

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Darlings, the curtain has fallen rather unceremoniously on PEPE, currently pirouetting at a humble $0.00001008. A 22% swan dive in a week—one can hardly blame PEPE for feeling a little green. Over $1.3 billion in market cap has been swept offstage, leaving PEPE clutching its pearls at a dainty $4.24 billion.

Naturally, the broader crypto scene is having a fainting fit, as investors (never known for nerves of steel) dash for the exits when geopolitics throws a tantrum.

PEPE: Whales Behaving Badly

Enter Whale 0x6ea4—crypto’s very own financial matinee idol—who swept in to deposit his final 600 billion PEPE tokens (a cool $6.04 million, no less) onto Binance this Wednesday, presumably with dramatic sighs.

PEPE whale 0x6ea4 deposited the last 600B $PEPE($6.04M) to #Binance 50 minutes ago.

A month ago, the whale withdrew 2.2T $PEPE ($27.64M) from Binance, and has since deposited it back in three batches—on June 8, June 13, and June 18—taking an estimated loss of ~$3.5M.…

— Lookonchain (@lookonchain) June 18, 2025

Apparently, our friend enjoys a roundtrip as much as the next debutante: swanning 2.2 trillion PEPE on and off the exchange, chalking up something around $3.5 million in losses for sheer dramatic effect. Sell pressure? In crypto, darling, it’s always an opening night somewhere.

Don’t scurry for your smelling salts just yet, because not every whale is fleeing the theatre. On Tuesday, a newly-minted wallet sashayed out of Binance with 500.6 billion PEPE (rumored to be $5.2 million under all those sequins). So, clearly, a few brave souls still believe PEPE’s spotlight isn’t quite done.

Meanwhile, according to Coinglass, open interest in PEPE contracts spiked 7% in a day, flirting with $526 million. Futures traders, it seems, still fancy a flutter on this amphibian’s prospects.

PEPE’s Fortunes: Will the Fat Lady Sing?

On the daily charts, the RSI is 37.76—otherwise known as “bad hair day.” That means buyers may sashay in for a plot twist, if the mood strikes. The drama, as ever, is palpable.

PEPE chart with RSI and Bollinger Bands | Source: Trading View

The Bollinger Bands have PEPE slithering along the lower band at $0.00000980—a spot of dynamic support to cling to while waiting for intermission snacks. Hold this level, and the price could bounce to $0.00001300 faster than you can say “encore.”

But lest you uncork the champagne, the MACD is still rather dowdy—red bars, signal line on top, and not a jazz hand in sight. A drop below $0.00000950, and PEPE’s next act could be an even deeper plunge.

PEPE chart with MACD and descending broadening wedge pattern | Source: Trading View

For those with a taste for intrigue, PEPE appears to be assembling a descending broadening wedge, the sort of chart pattern that gets technical analysts swooning. If PEPE delivers a breakout worthy of curtain calls, analysts opine a dash up to $0.00002123 isn’t entirely out of the question.

So, will PEPE rise for a standing ovation, or are we watching the world’s most expensive pantomime? Pass the popcorn, darling, because this act is far from over. 🎭🐸

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2025-06-18 19:58