Pepe Coin Has a Hard Time After the Market Drops
Since July, Pepe Coin has lost more than 33% of its value. The token is now trading close to $0.0000095, which is close to its monthly low.
Even though the market is going down, technical signals point to a possible rebound. The coin has reached strong support where past rallies have often started.
The Falling Wedge Pattern Could Mean a Recovery
Chart patterns show that Pepe Coin is making a bullish falling wedge. This setup usually means that the selling pressure is about to end and the market may turn around.
If the wedge is confirmed, it could start a rally that takes the price up to $0.00001340. Traders pay close attention when support and resistance lines come together.
Murrey Math Lines Show Important Support
Pepe Coin is resting on the Murrey Math Lines’ ultimate support. In the past, this level has been a good place for rebound attempts to start.
This important support level was reached when the price hit bottom near $0.000008940. People who keep an eye on the market think this is a good sign for Pepe’s possible rise.
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Whale Investors Keep Selling a Lot
Recent information shows that whales are dumping Pepe in large numbers. In just a few days, holdings dropped from 8.4 trillion to only 7.61 trillion.
When this happens, the price of tokens usually goes down a lot. Whales control a lot of supply, so when they leave, it puts more pressure on retail traders to sell.
Smart Money Also Cuts Back on Holdings
According to Nansen data, smart-money investors are selling off their holdings. Their holdings went down from 326 billion tokens in August to 322.2 billion.
These investors are often the ones who move the market. Their drop makes people cautious, even though technical indicators say a rebound could still happen.
Market Fundamentals May Aid Pepe Recovery
If the US jobs report is bad, it could help risky assets like crypto. Pepe may also do better if the overall market gets better.
Also, steady open interest in futures shows that people are still interested. This support might help Pepe deal with selling pressure caused by whales.
Pepe Coin Outlook Remains Cautiously Optimistic
Pepe Coin charts show bullish potential even though whales are leaving. Falling wedge structures and support levels show that there is a chance for a rebound.
Pepe could rise toward resistance if the market settles down. Traders should be careful, but they should also look for signs of a possible recovery.
