- PEPE has fallen 8.23% in seven days and now trades dangerously close to the $0.000010 support level.
- Trading volume declined by 21.47%, while whale dominance dropped to its lowest level since December 2023.
- A whale recently acquired nearly $28.8 million worth of PEPE, signaling a possible accumulation trend.
Pepe (PEPE), the frog-themed meme cryptocurrency, has declined by 8.23% over the past week. The token’s price movement is approaching the critical $0.000010 support level. Based on CoinMarketCap data, PEPE is now trading at $0.00001036. This price action places it less than half a cent above slipping into another decimal level, which would add an extra zero to its value.
The past 24 hours have shown minimal improvement in trading activity. The highest price recorded during the session reached just $0.00001037. Meanwhile, trading volume fell by 21.47%, settling at $502.69 million. Market activity has weakened as large holders, or whales, reduced their dominance by 43%. This marks the lowest whale presence since December 2023.
Retail Traders Dominate Price Movements
With whale activity dropping significantly, retail traders are now responsible for most of the price action. This change has created noticeable volatility in recent sessions. Market sentiment has also been affected by declining confidence, as reflected in the reduced trading volume and weakening support levels.
Despite the downturn, a large investor has accumulated nearly three trillion PEPE tokens valued at approximately $28.8 million in the past two days. While this transaction has drawn attention, it remains unclear whether it will be enough to influence broader institutional interest. The purchase could signal potential accumulation at current price levels.
Critical Level Becomes Key Focus for PEPE
The $0.000010 support level remains the focal point for PEPE’s near-term outlook. If the token falls below this threshold, it risks adding another zero to its price. Recovering from such a drop
Source: CoinMarketCap
could be more challenging than maintaining current levels. Some investors may view the ongoing correction as a buying opportunity if accumulation increases.
If broader market conditions stabilize, it may offer some short-term support for PEPE. However, the lack of strong buying interest from whales or institutions continues to weigh on the price. The immediate concern remains whether the asset can hold above the current support range without further losses.
