Pepe’s price fell on May 24, following the overall market drop affecting Bitcoin and other altcoins. The Ethereum-based meme coin dropped to $0.000014, losing 14% from its highest level earlier this week.
The market decline came after increased risks from Donald Trump’s threat to raise tariffs on European goods and Apple products. This news pushed the total cryptocurrency market cap down from $3.5 trillion to $3.4 trillion.
Data shows that big holders, or “whales,” have been selling Pepe recently. Whales now hold about 141.2 trillion Pepe coins worth $1.4 billion, down from 165 trillion coins in February. This is their lowest holding since November last year.
Similarly, smart money investors—experienced holders known for spotting trends—have cut their Pepe holdings from 380 billion a year ago to 244 billion coins now.
There is also a rise in Pepe coins held on exchanges, increasing from 251.3 trillion to 252.9 trillion coins. This often signals that investors are moving coins to sell.
Despite these signs of selling pressure, Pepe shows strong technical patterns. The daily chart reveals a golden cross forming soon, where the 50-day moving average crosses above the 200-day moving average. This pattern often signals long-term price gains.
Pepe has also formed a rounded bottom, indicating a possible upward continuation. If Pepe’s price breaks above this week’s high of $0.00001625, it could rise further toward a new record high near $0.00002840.
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