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

Pepe Coin is facing heavy pressure as its price falls below a key support level and forms a bearish chart pattern. The token is down 85% from this year’s high and is trading near its lowest level since April 2023. Although whales have quietly bought about 30 billion Pepe tokens—raising their holdings to 4.44 trillion—smart money investors are still selling.

Exchange supply has also started to drop, a sign some traders are buying the dip. Even with this mixed activity, technical charts show a bearish outlook, with Pepe forming both a head-and-shoulders breakdown and a bearish pennant. Analysts warn the price could slide further toward its year-to-date low around $0.000002797.

Original Source: crypto.news
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