Amid the ongoing bearish market sentiment, Pepe (PEPE), the world’s third-largest meme coin, has lost its key support level and is at risk of a significant price drop.
On March 29, 2024, Lookonchain, a blockchain-based on-chain analytics firm, posted on X (formerly Twitter) that a crypto whale, an early investor in PEPE, has sold billions of tokens, which could further drive the price down.
Lookonchain reported that the whale sold 150 billion PEPE tokens, worth $1.14 million, on Binance, amid the ongoing market downturn. This sell-off is part of a larger trend, as the whale has now offloaded 1.02 trillion PEPE tokens for a total of $6.66 million, making a remarkable $10.3 million profit, which represents a 4,718x return on the initial investment.
A $PEPE OG sold 150B $PEPE($1.14M) again 5 hours ago.
This OG spent only $2,184 to buy 1.5T $PEPE($43M at the peak) in the early stage.
He sold 1.02T $PEPE for $6.66M, leaving 493B $PEPE($3.64M), with a total profit of $10.3M(4,718x).https://t.co/tyzLr10sGj pic.twitter.com/FD6fFpyqCi
— Lookonchain (@lookonchain) March 29, 2025
The OG investor had spent only $2,184 to purchase 1.5 trillion PEPE tokens during the early stages of the meme coin’s launch. However, with the market sentiment remaining negative, this whale has begun to liquidate its vast holdings, signaling potential further downside for PEPE.
Price Outlook
Expert technical analysis indicates that PEPE is showing a bearish trend after experiencing a significant price drop. The four-hour chart reveals that PEPE was previously moving within an ascending channel pattern but has now breached the lower boundary, closing a daily candle below that critical level.
If PEPE continues to stay below the $0.0000075 level, experts predict that the coin could experience a 20% decline, potentially dropping to the $0.0000058 level in the near future.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/pepe-coins-price-could-face-decline-as-whale-dumps-150-billion-tokens/