Despite recent losses, PEPE remains in a position where it could potentially rebound. The whale responsible for the selloff still holds 1.99 trillion PEPE, indicating that further gains could be on the horizon.
Whale Sells 10 Billion PEPE: Price Prediction as PEPE Plummets 8%
PEPE has taken a significant hit, but this has also placed it in an oversold position, often a precursor to recovery. This is particularly evident in its relative strength index (RSI), which has dropped below 25 as holders rush to sell.
The coin’s 30-day moving average is also declining, falling further below the 200-day moving average. This trend suggests that a rebound may be imminent if the coin’s support level can hold above $0.0000105.
However, whales currently appear more inclined to sell PEPE than to buy it. The recent offloading of 10 billion PEPE by long-term holder dimethyltryptamine.eth might be a concerning sign. On the positive side, the same whale still retains approximately $21.9 million worth of PEPE, which they are unlikely to sell all at once to avoid hurting the coin’s price.
Despite these challenges, PEPE has recently reached new highs, hitting an all-time high of $0.00001717 on May 27. This suggests that it retains medium- and long-term momentum and could recover strongly in the coming days. Additionally, the launch of the first Ethereum ETFs in the US could provide a further boost to PEPE and the broader market.
A realistic price target for PEPE is $0.000012 in the next few weeks and potentially $0.000015 by the end of August.
New High-Potential Alternatives
As PEPE navigates its current downturn, some traders may look to diversify into other promising cryptocurrencies. This strategy not only mitigates potential losses but also positions investors to capitalize on new coins showing signs of significant upcoming rallies.
One such promising project is Pepe Unchained (PEPU), a new layer-two (L2) project that has raised $2 million in its ongoing presale. Pepe Unchained is attracting investors with its robust fundamentals and an L2 platform that offers instant transactions and extremely low fees. This positions it as a rival to existing Ethereum-based L2 networks such as Base, Optimism, and Polygon.
Pepe Unchained’s strong scalability and efficiency allow it to offer double the staking rewards compared to a standard Ethereum-based token, providing greater incentives for investors to hold the token long-term. The total supply of PEPU is capped at 8 billion, with allocations for staking, presale, marketing, liquidity, team, and chain inventory.
The growing community around PEPU is another encouraging sign, with a significant following on social media platforms and active engagement in its Telegram channel.
Investors interested in joining the PEPU presale can visit the official website to purchase tokens using ETH, BNB, USDT, or fiat currency. Given the presale’s popularity, PEPU is expected to rally once it lists in the coming weeks.
