The PEPE coin has become a stronger contender in the debate of “the best cryptocurrency to buy” after its two-week-long upward trend fell sharply by 25%.
The next wave of Trump’s “tariff war” plans has reignited fears of recession, causing a sense of panic across the market, particularly severely impacting PEPE.
However, the new week brings a glimmer of hope as PEPE surged 7% today, supported by a 15% increase in trading volume to 675 million dollars.
Whale Sells PEPE at a Loss: Should You?
A decrease of 25% seems to be the breaking point for some whales, who have suffered significant losses after four consecutive months of decline. Blockchain analytics firm LookOnChain reports that a whale sold off PEPE worth $3.03 million at a loss of $434,000.
This capital change has triggered a widespread sell-off, with over 1 trillion tokens liquidated in a significant liquidation event. However, technical indicators suggest that the worst may be over.
Price Analysis of $PEPE: Opportunity to ‘Buy When Price Falls’?
Today’s reversal indicates the possibility of a bottom, with a successful retest of the long-term support area that has defined the low since mid-2024.
If it maintains this level, this altcoin could move to retest the upper resistance level of the descending wedge pattern that has driven price fluctuations since the beginning of December.
A decisive breakthrough could lead to a high of $0.00002—a potential increase of 165% from the current level.
This scenario remains reliable, supported by the MACD golden cross, with the MACD line crossing above the signal line—a bullish move historically occurring before strong upward momentum.
The relative strength index (RSI) is also showing signs of recovery, trending upwards towards the level of 40 after being stuck in a sideways trend near the oversold threshold since the beginning of February.
Although these signals tend to be bullish, they remain weak. A breakout may require stronger buying pressure.
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