Pepe (PEPE), the third-largest meme coin after Dogecoin and Shiba Inu, has slipped to a low of $0.000009205 this week, its weakest point since late June.
The token has now lost nearly half its value from this year’s peak, raising concerns that its downtrend may not be over.
Smart Money and Whales Are Exiting
One of the biggest red flags for PEPE has been the steady exit of large investors. Whale holdings have declined from 7.6 trillion tokens earlier this year to just 6.54 trillion, while so-called “smart money” wallets have reduced their positions from 2.6 trillion in August to 1.62 trillion.
This type of selling is often considered a bearish signal, as these investors tend to have a reliable track record of timing market shifts before retail traders catch on.
Futures open interest has dropped sharply to $557 million from $800 million earlier this month and over $1 billion in July. The spot market has mirrored this slowdown, with daily volumes continuing to fall through September.
PEPE Price Analysis: Descending Triangle Pattern Points to More Downside
The PEPE price chart shows the coin consolidating inside a descending triangle pattern, a technical formation that typically favors the bears.
Price has been compressing toward the apex of the structure, with lower highs forming against a steady support zone.
If the support gives way, the chart projects a sharp decline toward the $0.0000047–$0.0000050 zone, which represents a potential 51% drop from current levels.
Source: TradingView
Momentum indicators add to the cautious outlook. The Relative Strength Index (RSI) sits at 44, just below the neutral 50 level, signaling weak buying pressure.
The MACD lines remain negative, hinting at ongoing bearish momentum.
A Bullish Scenario Still Exists
Despite these warning signs, bulls are not completely out of the picture. PEPE has gained around 5% in the past 24 hours, trading at $0.000009654 with a 13.5% increase in trading volume.
If buyers manage to defend the current support and push price above the descending resistance trendline, the coin could stage a rebound.
The bullish breakout target lies near $0.000030, a move that would imply a staggering 196% upside from current levels.
What’s Next for PEPE?
Pepe sits at a critical juncture. While short-term buyers have managed to spark a modest rebound, whale exits, declining open interest, and a descending triangle formation suggest that risk remains heavily tilted to the downside.
Traders should watch the $0.000009000 support closely. A breakdown could trigger a deeper sell-off, while a breakout above resistance could fuel the next meme coin frenzy.
PEPE Could Crash But $PEPENODE Eyes a Long Stay
While Pepe meme coin fades into the noise, PEPENODE ($PEPENODE) is changing the way people think about crypto mining by making it fun, interactive, and easy to access.
Instead of needing expensive equipment or technical skills, users can build virtual server rooms, purchase miner nodes, and upgrade facilities inside a simulated environment.
Each node adds hashpower in this virtual mining system, letting participants mine meme coins in a way that feels more like a game than a traditional process.
One of the most unique aspects of PEPENODE is its gamified presale. Supporters can start setting up rigs, earning rewards, and taking advantage of tiered incentives even before the token officially launches.
Early contributors will benefit from bonuses, leaderboard rewards, and long-term incentives, including 848% per annum in staking rewards.
To buy $PEPENODE, simply visit the official PEPENODE website and connect a supported wallet, like Best Wallet.
Once done, follow the instructions to complete the transaction.
You can use existing crypto in your wallet or debit/credit card to complete your $PEPENODE purchase.
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