Pepe Coin Price Set to Crash 30% As Top Holders Sell PEPE

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As an analyst, I’ve been closely observing the Pepe coin market, and my analysis suggests that the recent price surge might be approaching its peak. Some prominent holders are starting to sell off their coins, while the number of active addresses has decreased. Furthermore, the coin has formed a widely recognized bearish chart pattern, which could subject it to increased pressure in the near future.

Pepe Coin Price Is At Risk As Top Holders Scale Back

Pepe Meme Coin, ranked third in size, has surged more than 40% above its December lows, as investors seized the opportunity to purchase at reduced prices.

Presently, it appears some major coin holders are deciding to offload their coins, potentially causing further price instability in the short run. Data from Santiment indicates that the proportion of total supply held by top addresses has decreased to approximately 39.78%, falling from over 45 billion tokens just a few weeks ago.

According to recent data from IntoTheBlock, we’ve seen a decrease in the number of cryptocurrency addresses over the past few weeks. Specifically, new addresses have decreased by about 13.21% within the last seven days, and active addresses have dropped by approximately 3.90%. This downward trend suggests that many users are expecting the token price to keep dropping.

Currently, shrewd investors who typically lead market trends have begun offloading the Pepe coin due to its recent price decrease. The number of these sophisticated investors holding the coin has dwindled from about 110 a few weeks back to only 90 now.

Pepe Price Chart Points To a Big Crash Soon

Last week, the 4H graph indicated that Pepe’s price reached its highest point at $0.00002190, forming a double-top chart configuration. This significant price level was also near the 50% Fibonacci Retracement line, serving as strong resistance.

Currently, the Pepe coin price is exhibiting a rising wedge chart pattern that typically leads to a downward price movement, or a bearish breakout. The upper boundary of this pattern is formed by linking the highest price swings since December 24, while the lower boundary connects the lowest prices seen since December 21. As these support and resistance levels approach each other, it’s common to witness a bearish breakout. In simpler terms, the Pepe coin price might soon experience a downtrend due to this chart pattern.

Pepe Forecast Reveals Key Targets

According to our technical assessment, it appears that Pepe’s value could experience a downward trend, potentially triggering a bearish breakout. This prediction would be reinforced if the price falls beneath both the lower boundary of the wedge and the 50-day moving average at $0.00002020. If this happens, Pepe might plummet towards its December low of $0.00001433, representing a decrease of approximately 30% from its current value.

Conversely, if Pepe surpasses its key resistance at $0.00002190 (its highest peak this month), the bearish prediction will no longer hold true. This upward trend could drive it towards the significant milestone of $0.00002535, which is approximately 22% higher than its current value.

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2025-01-06 17:15