Pepe Coin price forms an alarming pattern as whales buy 30B tokens👇

Pepe Coin price remains under pressure below a key support level as it formed a bearish pattern despite the ongoing whale accumulation.
Pepe Coin Pepe
pepe
0.08%
Pepe, the second-biggest Ethereum meme coin, dropped to $0.000004512, down by 85% from its highest level this year. It is hovering near its lowest level since April last year.
Pepe token has plunged this year because of the ongoing crypto market crash that has affected most tokens, especially meme coins, including Shiba Inu and Dogecoin.

On the positive side, there are signs that whales have started to accumulate the token as they expect it to rebound. Data compiled by Nansen shows that whales now hold 4.44 trillion tokens today, up from 4.41 trillion in November. This means that they have bought 30 billion tokens in this period.

At the same time, there are signs that the supply of Pepe Coins in exchanges has started to drop in the past few weeks, ending a prolonged period of inflows. Data shows that there are now 258.2 trillion tokens in exchanges, down from last month’s high of 259.10 trillion. Falling exchange supply is a sign that investors are buying the dip and moving their tokens to exchanges.