Amid sellers taking over the crypto space, PEPE signals a potential rise against the bearish wave. Bulls target $0.00002120.
As Bitcoin BTC $91 494 24h volatility: 2.7% Market cap: $1.81 T Vol. 24h: $34.12 B has broken under the $93,000 mark, the broader market sentiment is turning extremely bearish. Amid such conditions, the meme coin market cap has dropped to $97.43 billion.
Dogecoin DOGE $0.32 24h volatility: 4.8% Market cap: $47.24 B Vol. 24h: $2.11 B is down by nearly 3%, while Pepe PEPE $0.000016 24h volatility: 6.3% Market cap: $6.94 B Vol. 24h: $1.01 B has registered a 4.21% decline in the past 24 hours. With its 7-day return at a negative 18.15%, Pepe struggles to sustain a market cap of $7 billion.
In the 4-hour chart, the declining trend in Pepe is testing the crucial support zone at the 23.60% Fibonacci level at $0.00001670. The Pepe price faced higher rejection from the 38.20% Fibonacci level while taking dynamic resistance from the 20-EMA line.
This completes a negative cycle within the consolidation range and hints at a bearish breakdown. However, the bullish divergence in the 4-hour RSI line suggests a potential double-bottom reversal.
Due to the prevailing bearish trend, the moving average lines in the 4-hour chart have attained a bearish alignment. Hence, the average lines are giving a sell signal, despite the RSI line signaling upside potential.
Based on the Fibonacci levels, a bullish breakout of the 38.20% Fibonacci level will mark a buying opportunity. The breakout rally in Pepe could retest the previous crucial support zone at $0.00002120. This corresponds to the 61.80% Fibonacci level.
On the flip side, a bearish closing under the crucial support zone at the 23.60% Fibonacci level will likely retest the $0.000014412 level.
Over the past three months, the number of large transactions over the Pepe has witnessed a significant decline. From the peak of 3.08k transactions on November 13, the transactions have dropped to 138 on January 12.
This marks a significant change of -95.52%. Furthermore, since the start of 2025, the number of large transactions has declined from 815 to 138. This marks a shift of -83.09% in 2025.
The lack of network activity reflects declining attention towards Pepe in a gradually turning bearish market. This warns of a potential rise in FUD.
Despite the Pepe price declining over the past week and the threat of a breakdown rally, whales are showing strong confidence. Over the past 24 hours, two whales have made significant purchases in this meme coin.
Whales are accumulating $PEPE!
1/ New whale “0x8f5” withdrew 280B $PEPE ($5M) from #Binance 4 hours ago. Additionally, the whale accumulated 47.4M $JASMY ($1.54M) a day ago.
2/ Whale “0xb1a” spent 3.72M $USDC to buy 200.4B $PEPE ~30 mins ago. However, this whale used to lose… pic.twitter.com/aTyZPl8Qqp
— Spot On Chain (@spotonchain) January 13, 2025
A new whale, 0x8f5, has withdrawn 280 billion Pepe tokens worth $5 million. Along with withdrawing Pepe from Binance, the whale also accumulated 47.4 million JASMY tokens worth $1.54 million a day before.
Similarly, on a bullish note, a whale, 0xb1a, has spent 3.72 million USDC USDC $1.00 24h volatility: 0.0% Market cap: $45.72 B Vol. 24h: $4.30 B to accumulate 200.4 billion Pepe. However, this whale has a history of making losses in Pepe, with the recent one amounting to $1.45 million.
Pepe faces significant challenges with declining network activity and bearish trends, but strong whale accumulation offers hope for a potential recovery. A breakout above $0.00001670 could signal bullish momentum, while failure to hold key support risks further downside. The coming days will be critical for the next move in Pepe.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
