- Pepe Coin price fell 7.4% in 24 hours, now trading at $0.00001119 as market-wide losses hit.
- Over 400B PEPE tokens were sold by whales, reducing holdings from 1.09T to 610B.
- Analyst forecasts potential PEPE rebound to $0.00039 if current support holds.
Pepe Coin Price has dropped by 7.4% in the last 24 hours, falling to $0.00001119 on August 15. This sharp dip follows increased whale selling and a $6 million long squeeze. Yet, one analyst believes PEPE could rebound, with a possible rise to $0.00039 if past patterns repeat.
Analyst Predicts Rally to $0.00039 Despite Pressure
Despite the recent decline, an analyst known as CryptoElites shared a bullish outlook. According to their analysis, PEPE price is still within an ascending channel. The coin has shown a consistent pattern of bouncing back whenever it reaches key support levels.
The analyst pointed out that the current price sits on a major support line. If history repeats itself, a rebound could push PEPE toward $0.00039. “Every time PEPE has touched this support, it has bounced,” CryptoElites stated in their forecast.
This projection assumes that the current support holds and buyers return. Although there has been strong selling, the technical trend remains intact. The path to higher levels could resume if the market stabilizes and traders regain confidence.
Source: CryptoElites
Previous bearish projections had warned of a drop to $0.0000070. However, those scenarios may only become more likely if PEPE falls below $0.000010. As of now, that level has not been breached, which keeps the bullish case in play.
Whale Selling Deepens as PEPE Coin Price Falls
Over the past 24 hours, whales offloaded more than 400 billion PEPE tokens. According to data from IntoTheBlock, large holders reduced their PEPE holdings from 1.09 trillion to 610 billion. This mass selloff came as the token’s price dropped, with long positions being liquidated.
The sell pressure was partly triggered by a long squeeze totaling over $6 million. Traders who were expecting the price to rise closed their positions at a loss. This move added to the downward pressure on PEPE’s market price during the same period.
Whale activity around PEPE has followed a pattern in recent weeks. They tend to buy when the price is climbing and sell when it drops. This trading behavior suggests that whales are focused on short-term gains rather than long-term holding. Their recent exit indicates a cautious stance during current market conditions.
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