PEPE Holdings Plunge Almost $1B, Bears Eye 18% Fall

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Over the last day, the total liquidations in the cryptocurrency market have reached approximately $500 million, indicating a strengthening hold of bearish sentiment. The PEPE meme coin has been particularly affected, experiencing a decline of 10.85% over the same period.

After dropping below the $0.000020 psychological threshold, the market capitalization of PEPE now stands at approximately $7.6 billion. Given the strengthening bearish trend, will the price of PEPE continue its descent this week? Here’s a look at some key metrics:

– Current PEPE price: $0.000017
– 24h volatility: 5.6%
– Market cap: $7.20 billion
– 24h trading volume: $1.77 billion

PEPE Price Analysis

As a researcher observing the 4-hour PEPE coin price chart, it appears that we’re witnessing a strong corrective rally taking shape. Regrettably, despite the efforts, the meme coin hasn’t been able to breach the significant resistance level at $0.00002120, which corresponds to approximately 61.80% of the Fibonacci retracement level.

This event led to a significant drop, bringing the overall market close to the vital level at $0.000017. The descent has fallen below the 200 Exponential Moving Average (EMA) line, causing a devastating crash between the 50 and 200 EMA lines.

Yet, as the market’s bearish trend weakens due to exhaustion, there is a noticeable sideways movement that suggests a bullish divergence in the Relative Strength Index (RSI). This indicates that the momentum indicator might be moving back above the oversold region, possibly signaling an upcoming reversal rally.

According to Fibonacci analysis, if PEPE experiences a bullish recovery, it’s expected to reach approximately $0.00001969, which is around 50% of its previous high. But if the price falls below the 23.60% Fibonacci level at $0.00001670, there’s a possibility of a further dip to the immediate support at $0.0000144, representing about an 18% potential decrease in value.

Whale Offloads amid Market Crash

Given the current downward trend in the cryptocurrency market, large investors or “whales” seem to be growing wary of the meme coin, as one such investor just sold off 85 billion PEPE tokens for approximately 1.5 million USD Coin (USDC) within the past six hours.

As the market dropped, a whale sold 85B $PEPE for 1.51M $USDC at a loss 1 hour ago.

This whale still holds 180.8B $PEPE ($3.2M) and has incurred a total loss of $1.74M.

— Lookonchain (@lookonchain) January 9, 2025

The whale still possesses approximately 180.8 billion tokens valued at around $3.2 million, however, they have experienced a cumulative loss of roughly $1.74 million.

PEPE Balance by Holding Drop ~$1B in 2025

Over the last nine days, the value of PEPE tokens held by investors, measured in US dollars, has experienced a significant drop, reaching approximately $8.41 billion in the crypto market, which has been seeing large-scale liquidations daily in the year 2025.

Originally, the amount was over $5.8 billion, but after nearly $900 million in liquidations, it’s now down to approximately $5.09 billion.

As a crypto investor, I’ve noticed that my holdings in the range of $1 billion to $10 billion have grown slightly, now standing at $1.13 billion, compared to $1.2 billion at the beginning of the year. Additionally, my investments worth between $100,000 and $1 million have seen a shift, decreasing from $716.71 million to $635.63 million.

Observing a persistent decrease in my PEPE holdings, I can’t help but notice a clear drop in the community’s confidence.

2025 saw a significant drop in the value of the PEPE meme coin, with its market capitalization falling to approximately $7.6 billion and a decrease of nearly $1 billion in the balance held by investors. Although there are indications of a possible reversal in the short term, such as RSI divergence, the overall bearish outlook and large-scale liquidations suggest a decline in confidence within the community. Important levels to keep an eye on include $0.00001969 for potential recovery and $0.00001670 for further potential downward movement.

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2025-01-09 18:26