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Pepe Coin slides as whale selling accelerates
Pepe Coin has extended a steep decline that began in May, hitting a fresh low at $0.000003745 — the weakest level since Oct. 10 and roughly 78% below its May peak. On-chain signals show larger holders and so-called smart-money participants are trimming positions, a development that could presage further downside for the meme token.
Whales and smart money are reducing exposure
Blockchain analytics show that large wallets now hold about 4.51 trillion Pepe tokens, a decline from earlier in the month as some whales started to liquidate. At the same time, smart-money investors have trimmed holdings slightly — from roughly 211 billion tokens in November to about 209 billion — a notable shift because these traders typically enter and exit positions with a profit-driven bias.
These selling pressures are mirrored by exchange balances. The supply of Pepe on exchanges has rebounded to roughly 265.81 trillion tokens from a monthly low near 203 billion, a sign that more tokens are being routed to trading venues and could be offered for sale. Rising exchange supply is usually interpreted as increased selling intent among holders.
Macro catalyst: Bank of Japan decision could add volatility
Market participants are also watching the Bank of Japan’s upcoming interest rate decision. Economists expect a rate increase in the 0.25%–0.75% range, a move that could inject additional volatility into crypto markets. Heightened macro risk often prompts risk-off behavior among investors, which can amplify price declines in speculative assets like meme coins.
Futures, liquidity and technical setup
Pepe’s futures open interest has contracted over recent months, and the token’s funding rate remains close to neutral as liquidity thins. Lower open interest and shrinking liquidity can exacerbate price moves when sell-offs accelerate because fewer counterparties are available to absorb trades.
Pepe price chart
On the technical front, daily indicators point to a clear bearish momentum. The price has traded under key moving averages and below the Parabolic SAR, while momentum tools like the Awesome Oscillator and Bull/Bear Power sit under the zero line — classic signs of a dominant bearish regime. The token also remains below a descending trendline, reinforcing the downtrend.
Based on this structure, a short-term Pepe price target sits near $0.000002816 — roughly 30% below current levels — representing the coin’s October low. That bearish outlook would be negated only if Pepe can reclaim and sustain trading above the 50-day moving average, which would signal a potential change in trend.
What traders should watch
Key on-chain and market signals to monitor include whale wallet activity, exchange token inflows, futures open interest and funding rates, plus how the market reacts to the Bank of Japan decision. Together these metrics will help determine whether selling pressure eases or whether capitulation deepens, pushing Pepe lower.
Overall, given the current on-chain flows and technicals, the risk tilt remains to the downside for Pepe Coin in the near term.
Source: crypto
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