Pepe Coin (PEPE) has plunged to its lowest level since February 2024, extending the pain across the crypto market as major investors offloaded large positions and liquidations surged past $20 million.
🐸 Pepe Coin Plunges Amid Broader Market Crash
The meme-inspired token, built on the Ethereum (ETH) network, dropped to $0.0000388, marking a new multi-month low. The sharp decline came as the broader crypto market suffered a brutal sell-off following U.S. President Donald Trump’s announcement of new tariffs on China, which triggered a wave of panic selling and over $19 billion in liquidations across major exchanges.
The total crypto market capitalization fell by more than $500 billion in a single day, making it one of the sharpest market downturns of the year.
💸 Whales and Smart Money Exit Positions
Data shows that large holders or whales have been aggressively selling Pepe tokens in recent weeks. Between September 26 and October 11, whales reportedly dumped more than 1.5 trillion PEPE tokens, signaling a loss of confidence ahead of the crash.
Similarly, “smart money” investors, who often move early during market shifts, reduced their holdings from 3.17 trillion PEPE in September to just 1.67 trillion a nearly 50% drop.
Analysts believe this coordinated exit by high-value wallets was a major factor behind Pepe’s accelerated decline, as liquidity dried up and retail traders followed suit.
⚠️ Risky Chart Patterns Signal Further Downside
Technical indicators suggest that Pepe’s price may face more pressure in the coming weeks. On the daily chart, the token has been forming two bearish patterns that typically precede further declines:
- Descending Triangle Pattern The lower boundary sits around $0.0000091, with the descending diagonal connecting lower highs since May 22, 2025.
- Head and Shoulders Pattern The “head” formed at the all-time high of $0.00002821, while the shoulders peaked near $0.000016 in May. The neckline a key support zone sits around $0.0000056, tested multiple times since March.
If Pepe breaks below this neckline, analysts warn that the next major supports lie near $0.0000038 (its 2025 low) and $0.0000020, potentially marking another 40–60% correction from current levels.
📊 Market Outlook
Despite the heavy sell-off, some traders remain cautiously optimistic, suggesting the meme coin market could see relief once volatility cools and liquidity stabilizes. Historically, meme coins like Pepe, Dogecoin, and Shiba Inu have rebounded sharply after deep corrections though timing such reversals remains highly uncertain.
For now, all eyes remain on whale activity and broader crypto sentiment, which will likely determine whether Pepe’s recent crash represents a final capitulation or a prolonged downturn.
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