PEPE, one of the top-performing memecoins in recent months, is currently facing resistance at its 100-day simple moving average (SMA). Despite a brief rally that pushed the price to $0.00001009, PEPE failed to hold above this key level and has since retraced to $0.00000992.
The price rejection reflects ongoing sell pressure from large holders and weak short-term momentum.
Whale Transfers Signal Selling Activity
On-chain data shows a clear trend of high-volume PEPE transfers to exchanges, suggesting that whales are likely distributing holdings. One significant transaction involved a transfer of 500 billion PEPE worth approximately $3.85 million to Binance.
This comes after four consecutive high-volume sell periods, forming a descending resistance trendline—a technical signal that typically suggests continued downward pressure.
These patterns indicate a lack of accumulation and instead point toward a broader phase of distribution.
PEPE Price Technical Analysis: Support and Resistance Zones
PEPE currently trades within a sideways consolidation range between recent lows on June 22 and July 2, and highs from June 25 to July 3. Unless PEPE breaks above this range, the downtrend from the May 23 high is likely to continue.
Technical indicators at a glance:
- Relative Strength Index (RSI): 44.29 (Neutral)
- Support Level: $0.00000099
- Resistance Level: $0.0000102
- Sentiment: Neutral with a bearish bias due to volume distribution
PEPE Long-Term Forecast Remains Positive
Despite short-term weakness, some analysts maintain a bullish long-term forecast for PEPE. If market sentiment shifts, price targets include:
- $0.000035 by the end of 2025
- $0.0258 by 2030, assuming continued memecoin adoption
These projections hinge on retail investor interest and sector-wide momentum in the memecoin category.
Memecoin Sector Shows Capital Rotation
While PEPE consolidates, other memecoins are seeing action. Bonk (BONK) has gained 6–7% recently amid ETF buzz, while Dogwifhat (WIF) has declined 4–10%, testing critical support.
This sector rotation indicates that capital is flowing between meme tokens, often driven by headlines, speculative interest, and sentiment shifts.
Outlook
PEPE is currently testing a crucial technical threshold, and the failure to break above the 100-day SMA shows how sensitive the market remains to whale activity and trader sentiment.
However, with solid support near $0.00000099 and a loyal base of holders, PEPE remains a key memecoin to watch — particularly if long-term bullish projections play out.
Traders should monitor volume and whale activity closely, as these factors will continue to dictate short-term price action.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.