2 Minutes
Market sell-off drags PEPE back to March levels
PEPE has plunged more than 21% amid a broader crypto market correction, returning to price levels last seen in March 2024. At the time of reporting, the meme token trades around $0.00000723. On-chain analytics from Nansen point to heavy distribution by large holders and retail investors, while exchange inflows are adding downward pressure.
Whales and retailers: huge token movements
Data shows whales sold roughly 9.04 trillion PEPE between October 10 and 11, while buying about 6.62 trillion — a net negative shift that signals significant selling pressure. Retail addresses also offloaded around 25.19 trillion tokens, slightly exceeding their purchases of 24.84 trillion. Increased activity on exchanges coincides with a net inflow of approximately $10.42 million, which can amplify downward momentum in the spot market.
Technical outlook and key levels to watch
The Relative Strength Index (RSI) has dipped into an oversold band (roughly 25–31), showing intense competition between buyers and sellers. If buying interest, particularly from whales, returns, traders could see a bounce toward $0.000009 and potentially $0.0000106 as short-term resistance levels. Failing a recovery, the next major support is likely near $0.00000614.
Investors should monitor on-chain flows, exchange balances, and RSI readings to gauge whether the sell-off continues or if accumulation by larger holders will trigger a rebound. Risk management and position sizing remain essential amid volatile token movements.
Leave a Comment