Pepe coin price may drop if support at $0.00001–$0.0000095 fails, as whale dominance drops and bearish pressure mounts after last week’s dip.
After a sharp decline in price last week, the current PEPE price increases represent a corrective action.
This correction may not endure, according to an analyst.
This occurs as short positions accumulate and whale dominance plummets to its lowest level since 2023.
Pepe Coin Price Prospects If Analyst Predictions Collapse
Pepe coin price is currently trading at $0.0000106, up 1.59% as of this writing.
According to analyst Matthew Dixon, Pepe Coin is at a pivotal moment.
Considering the performance from the previous month, he attributes the two-week decline from $0.00001448 to $0.0000106 to a bearish divergence on the RSI.
According to him, this crash has two possible outcomes: either Pepe coin price will continue to decline, or it will begin to rise.
However, whether or not support holds will determine the direction in which the Coin’s price, according to Dixon’s study, lies between $0.00001 and $0.0000095.
He warns that there will be a sharp acceleration to the lower side if this top meme coin falls below this level. If this zone is lost, panic sellers can push the price to $0.000007.
However, he adds that the resistance zone between $0.0000115 and $0.000012 will be crucial if bulls can regain control.
Thus, reclaiming may start a bigger action.
However, a bullish divergence with the RSI is the primary indicator that this will occur.
According to the analyst, Pepe Coin is trapped in a short-term make-or-break zone.
However, the long-term Pepe Coin price prediction for 2025 and beyond indicates that things may finally shift in favor of optimistic traders.
Whale Dominance Drops To 2023 Lows, Increasing Pessimism
There has been a noticeable decline in whale dominance in Pepe Coin.
Just 43% of the supply is currently held by large holders, the lowest percentage since December 2023, according to IntoTheBlock.
According to these statistics, retail traders are taking the lead as big-money players retreat from PEPE. Usually, volatility increases when this occurs.
Pepe Coin’s price may make it difficult to sustain any increases for a long time because retail investors typically respond to short-term sentiment, in contrast to whales, who usually retain long-term investments.
The whale’s departure hasn’t occurred alone. There has been an increase in pessimism along with it.
The long/short ratio has fallen to its lowest point in two weeks, according to Coinglass.
A noticeable increase in traders initiating short bets on Binance indicates anticipation of more declines.
Given these circumstances, Dixon’s prediction of a possible decline to $0.000007 may not be far off.
The conditions may be in place for Pepe Coin to decline more shortly as more traders place bets against the price and whales retreat.