Whales Dump PEPE: Meme Coin Flirts With Bearish Reversal

Big players are cashing out—PEPE’s rally might be running on fumes. When whales move, retail traders often get left holding the bag. Here’s why the meme coin’s party could be winding down.

Signs of profit-taking emerge as PEPE’s price action wobbles. The ’smart money’ isn’t sticking around for the encore—classic crypto pump-and-dump theater. Remember: in a zero-sum game, someone’s gains are always someone else’s losses.

PEPE Price Chart The overall trend has resulted in a golden cross between the 50-day and 200-day EMA lines, signaling a trend reversal. Amid the short-term consolidation, the MACD line has dropped under its signal line, triggering a bearish crossover. This suggests a significant loss in bullish momentum, with increasing bearish histogram bars. As a result, the technical indicators point to a potential pullback toward the 50% Fibonacci level at $0.00001227. However, given the overall weakness in the meme coin segment, the correction could extend to the 200-day EMA NEAR the $0.000010 level. On the upside, a recovery above the 61.80% Fibonacci level could open the path toward the 78.60% level at $0.00001903. Pepe Whales Booking Profit? With Pepe at risk of a potential pullback, the number of large transactions has surged over the past month. According to IntoTheBlock data, whale transactions hit a 7-day high of 587 on May 23. As of the last 24 hours, the data recorded 267 transactions from whales. The increased number of large transactions with a volume of more than $100,000 relates to heightened whale activity. This trend is often associated with profit-taking and may suggest a local cycle top, similar to what was observed during the November 2024 rally. Therefore, the recent spike in whale transactions following a short-term price surge raises the risk of a potential bearish reversal.

PEPE Number of Large Transactions