Is PEPE Bearish? Analysing Pepecoin

Pepecoin (PEPE), the frog-themed meme coin, has been a rollercoaster for traders. Once a darling of speculative investors, it’s now facing heavy selling pressure, with its price dropping sharply. 

Is PEPE stuck in a bearish rut, or could a rebound be on the horizon? Let’s break down the key factors driving PEPE’s recent performance, from whale sell-offs to technical signals and market trends, to get a clearer picture.

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Why Is PEPE’s Price Tanking?

PEPE has taken a beating, shedding over 18% in a single week and more than 25% over the past month, trading around $0.00000965 as of June 23, 2025. 

What’s behind this steep decline? A mix of whale activity, bearish technicals, and a tough market environment for altcoins is dragging PEPE down.

Whale Sell-Offs Shake the Market

Large holders, or “whales,” have been dumping PEPE tokens in droves, sparking panic among smaller investors. 

Data shows one whale offloaded 2.2 trillion PEPE tokens, about 0.5% of the circulating supply, over 10 days, including a 600 billion token sale on June 18 worth $6.04 million, at a $3.5 million loss. 

Another whale deposited 609 billion PEPE ($6.43 million) to Binance, signaling potential profit-taking.

With 87% of PEPE’s supply held by the top 1% of addresses, these moves have an outsized impact, often triggering algorithmic sell orders and fueling downward spirals in the low-liquidity meme coin market. 

This whale exodus suggests fading confidence, with some investors possibly rotating into newer projects like Pepeto, which has raised over $5 million in presale.

Read more: PEPE Coin Price Prediction: Is the Frog Meme Market Still Positive?

Bearish Technicals Point to More Pain

PEPE’s charts aren’t looking pretty, with several indicators flashing red:

Price Breakdown: PEPE has slipped below its 50-day ($0.0000119) and 200-day ($0.0000123) simple moving averages, erasing key support levels. It’s also testing a critical ascending trendline at $0.0000103, with a break below risking a drop to $0.0000080.

MACD Signals: The Moving Average Convergence Divergence (MACD) histogram has turned negative (-2.65E-7), and the MACD line has crossed below the signal line, confirming bearish momentum.

RSI Weakness: The Relative Strength Index (RSI) is hovering around 33.54–37.65, close to but not yet in oversold territory (below 30). This suggests there’s still room for further declines before a potential bounce.

These technicals paint a grim short-term picture, with the path of least resistance pointing downward unless a reversal catalyst emerges.

Read more: Is PEPE Bullish Again? Looking at the Current Price

Broader Market Pressures Weigh on PEPE

It’s not just PEPE-specific issues at play, the broader crypto market is squeezing altcoins hard, and meme coins are feeling the heat.

Bitcoin Dominance Squeezes Altcoins

Bitcoin’s dominance has climbed to 65.02%, up 1% in a single day, as investors shift capital to safer assets amid macro uncertainty. This trend often leaves altcoins like PEPE struggling, as risk appetite dries up. The global crypto market cap also dipped by 2.1%, with meme coins hit hardest by this risk-off sentiment.

Fading Retail Enthusiasm

The Fear & Greed Index has slumped to 40 (Neutral) from 73 (Greed) in May, reflecting waning retail excitement. While PEPE’s 24-hour trading volume jumped 17.85% to $805 million, most of this activity was sell-side, with long liquidations spiking on major exchanges. 

On-chain metrics add to the gloom: net network growth is a mere 0.70%, and “In the Money” wallets dropped by 7.07%, showing many holders are underwater.

Geopolitical and Macro Factors

Global tensions, like the Iran-Israel conflict, have added volatility to crypto markets, pushing investors toward caution. While diplomatic signals from Iran hint at possible stabilization, the uncertainty has contributed to PEPE’s woes.

Is There Hope for a Rebound?

Despite the bearish storm, there are glimmers of hope for PEPE bulls, though they come with caveats.

Potential Oversold Bounce

With RSI nearing oversold levels, PEPE could be setting up for a technical rebound if buying pressure returns. Some analysts point to a bullish flag pattern and a double-bottom formation, which could signal a 102% upside to $0.00002051 if confirmed.

Whale Accumulation at Lower Prices

While whales are selling, some may be waiting to scoop up tokens at cheaper levels. On-chain data shows exchange balances falling, a sign that some large holders are accumulating off exchanges. 

A break above $0.000011 could spark a rally toward $0.000013, especially if whale activity stabilizes.

Read more: Copying the Pepe Coin Millionaire: What Coin  Should You Follow Next?

Key Support to Watch

The $0.0000100 level is a psychological and technical support zone. Holding this could prevent a deeper slide to $0.0000080 or lower, last seen in Q2 2024. However, a daily close below $0.0000103 would confirm a bearish correction.

Conclusion

PEPE is in a bearish slump, fueled by whale sell-offs, weak technicals, and a tough altcoin market. 

Prices could drop to $0.0000080 if $0.0000100 breaks, but oversold signals and bullish patterns suggest a possible rebound if whales ease up or sentiment shifts. 

Traders should stay cautious, watch whale moves, and track the $0.0000100–$0.000011 range. Despite the gloom, PEPE’s volatility could spark a surprise bounce.

FAQ

Q1: Why did PEPE drop below key support levels?

A1: Whale sell-offs triggered panic, pushing PEPE below its 50D and 200D moving averages. The price is now testing the $0.0000103 trendline, if that breaks, $0.0000080 is next.

Q2: What do the MACD and RSI say about PEPE's trend?

A2: The MACD just crossed bearish, while RSI is hovering near oversold (33–37). Translation? Momentum’s down, but a bounce could be brewing if buyers step in.

Q3: Is there any bullish setup on the chart?

A3: Yep, analysts spot a bullish flag and hidden divergence forming. If confirmed, PEPE could shoot back to $0.00002051. Watch for a reclaim of $0.000011 to signal reversal.

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