Pepe Coin Price Down 20% Weekly Amid Massive Selloff, What Next?

Pepe Coin (PEPE) price fell more than 20% in the past week following a substantial selloff.

Cryptocurrencies are volatile considering significant players have sold their digital resources that lead to reduced asset prices. 

Nascent’s recent PEPE cryptocurrency token sellout to Binance Exchange has generated investor anxiety about the token’s stability levels.

Nascent Offloads 175 Billion PEPE

Notably, On-chain data confirmed that the institution Nascent sold out all its remaining stock of PEPE, 175 billion tokens.

Due to the transaction, the asset received more pressure from the market to decline, thus resulting in a steeper rate of decline per week.

Binance handled this $1.5 million PEPE transaction.

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Between June and July 2024, Nascent engaged in PEPE trading by selling 608.85 billion tokens which generated $7.73 million in revenue.

PEPE displayed positive price behavior in November 2024 prompting Nascent to reenter the market and continue PEPE trading.

The asset was involved in many liquidation events, thereby generating $348,000 in profit.

The recent transaction signals Nascent has finished selling all PEPE tokens which impacts market behavior across the board.

Pepe Coin Holds Above Key Support Level

However, the PEPE price shows resilience by staying above its crucial support at $0.000006730.

According to recent market data PEPE trades at $0.000009046 with a daily drop of less than 1.5%.

The ongoing sales from massive asset holders create market stability concerns although the current price position indicates the asset remains above essential support areas.

Fluctuations in the market stem from various outside influences along with overall economic conditions.

Recent trade tariffs by U.S. President Donald Trump created market fluctuations throughout the cryptocurrency industry.

Nevertheless, the recent tariff modifications did not provide enough stability for the market to recover with certainty.

Market participants watch the PEPE price movement to evaluate if the token will successfully defend its current levels or if there will be more decline.

Declining Open Interest Suggests Reduced Market Confidence

More so, a declining open interest level in the PEPE futures market suggests a worsening market sentiment.

PEPE open interest data from Coinglass shows a 2.5% decrease which left the metric at $246.59 million.

Open interest decline demonstrates lower participation from traders which represents declining asset confidence about short-term value.

Additionally, the past 24 hours have registered $3.72 million in PEPE liquidations based on current data.

Particularly, due to the high volatility of the price of PEPE that makes the trader’s lose their positions or even have their positions closed due to market price fluctuations. 

The combination of reduced open interest and increased liquidation activity points to an uncertain outlook for PEPE in the near term.

PEPE Coin Price Prediction

A recent market analysis confirms PEPE price has developed a strong bearish pattern as the meme coin dropped back to November price points.

According to crypto analyst CryptoKaleo predictions suggest that meme coins will face additional sell pressure.

PEPE price has now dropped roughly 63% from its December all-time high, erasing most of its November gains as bearish market conditions persist.