The token has lost almost half its value since its peak this year, raising concerns that its downtrend may not be over.
Smart money and whales are out
One of Pepe’s biggest red flags is the steady withdrawal of large investors. Whale holdings fell from 7.6 trillion tokens earlier this year to just 6.54 trillion, while so-called “smart money” wallets went from 2.6 trillion in August to 1.62 trillion.
This type of sales is often considered a bearish signal, as these investors tend to have a reliable track record of timing market changes before retailers catch up.
Open interest on futures fell sharply from $800 million to $557 million earlier this month, exceeding $1 billion in July. The spot market reflects this slowdown, with daily volumes continuing to decline until September.
Pepe price analysis: The pattern of the descending triangle points to more negative aspects
Pepe Price Chart shows coins that integrate within a pattern of descending triangles, which is usually a technical formation that supports bears.
Prices are compressed towards the top of the structure, forming a low high for a stable support zone.
If support gives way, the chart will drop sharply towards the 0.0000047-$0.000050 zone, representing a potential 51% drop of 51% from the current level.
Source: TradingView
Momentum indicators are added to a careful outlook. The relative strength index (RSI) is at 44 just below the neutral 50 level, indicating weak purchasing pressure.
The MACD line remains negative, suggesting ongoing bearish momentum.
Bully scenarios still exist
Despite these warning signs, the bull is not completely out of the picture. Pepe has earned about 5% in the last 24 hours, trading volumes increased by 13.5% to trade at $0.00009654.
If buyers can defend current support and push prices above the downward trend line, the coin could be set in rebounds.
Bully breakout targets are near $0.000030. This is a move that means an astounding 196% increase from current levels.
What’s next for Pepe?
Pepe sits at a critical time. While the short-term buyers managed to cause modest rebounds, the whales left the exit, reducing open profits, and the formation of a downward triangle suggests that the risk remains leaning badly towards the downside.
Traders should watch the $0.000009000 support carefully. Breakdowns can cause deeper sales, but breakouts that outweigh resistance can drive the next meme coin frenzy.
Pepe may crash, but $pepenode’s eyes are long stay
While Pepe Meme Coin disappears into the noise, Pepenode ($Pepenode) is changing the way people think about crypto mining by making it fun, interactive and easy to access.
Instead of requiring expensive equipment and technical skills, users can build virtual server rooms, purchase minor nodes, and upgrade facilities within a simulated environment.
Each node adds hash power to this virtual mining system, allowing participants to mine meme coins in a way that feels more like a game than a traditional process.
One of the most unique aspects of Pepenode is the Gameified Presale. Supporters can start exploiting rig setup, earn rewards and tiered incentives, even before the token is officially released.
Early contributors benefit from long-term incentives, including bonuses, leaderboard rewards, and 848% per year in reward staking.
To buy $Pepenode, go to the official Pepenode website and connect with a supported wallet like the best wallet.
When done, follow the instructions to complete the transaction.
You can complete your $Pepenode purchase using your existing encryption on your wallet or debit/credit card.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
A crypto journalist with over five years of experience in the industry, Perth has worked with leading media outlets in the Crypto and Finance world, gathering experience and expertise in this field after surviving the bear and bull market for many years. Perth is also the author of four self-published books.
Parth Dubey on LinkedIn