On-chain data cited by Techub News shows that whale addresses holding between 10 million and 100 million PEPE have sold a combined 80 billion tokens since Aug. 25. Over the same stretch, smaller holders with 100,000 to 10 million PEPE accumulated only 5.06 billion tokens, pointing to a notable imbalance between selling and buying activity.
PEPE was trading near $0.00000348 after facing resistance at $0.00000364, the token’s 200-day exponential moving average. CoinJournal said technical indicators were leaning bearish, with the relative strength index drifting toward the neutral 50 level and the MACD posting a bearish crossover last week.
Analysts cited in the report said a daily close below the $0.00000313 support could trigger a deeper pullback toward $0.00000230, which would represent about a 34% decline from the current price. On the upside, a break above the 200-day EMA resistance could leave room for a rebound toward $0.00000442.
Whale addresses holding between 10 million and 100 million PEPE have sold about 80 billion tokens in total since Aug. 25, according to on-chain data cited by Techub News.
During the same period, mid-sized and smaller addresses holding between 100,000 and 10 million PEPE accumulated only 5.06 billion tokens. CoinJournal said the imbalance between selling and buying could add to short-term downside pressure.
Price stalls near the 200-day EMA
PEPE was trading near $0.00000348 after meeting resistance at $0.00000364, which marks the 200-day exponential moving average.
Technical indicators remained bearish. The relative strength index was sliding toward the neutral 50 level, while the MACD registered a bearish crossover last week.
Support and rebound levels in focus
Analysts said a daily close below support at $0.00000313 could lead to a deeper pullback toward $0.00000230, or about 34% below the current price.
If PEPE breaks above resistance at the 200-day EMA, the move could open the way for a rebound toward $0.00000442.
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