PEPE has shown signs of bullish consolidation in a classic flag formation after a strong rally, but growing whale activity and weakening technical indicators suggest caution.
By Parth Dubey
Editor Kirsten Thijssen
Updated
3 mins read
PEPE, a prominent meme coin project, has shown short-term resilience by climbing 3.5% in the past 24 hours, trading at $0.00001110 at press time, as per CoinMarketCap data.
However, this bullish sentiment is overshadowed by larger bearish signals looming over the asset, as a whale’s recent massive CEX deposit hints at potential downside, coupled with a more than 40% drop in the trading volume.
On the daily chart, PEPE has been trading inside a descending channel since May 10. This setup eventually led to a bull flag, a continuation pattern that often follows a strong upward move.
In PEPE’s case, the price spiked from $0.0000079 to $0.000015 before consolidating within the flag between $0.000010 and $0.000014. Notably, indicators suggest that any such breakout won’t come easily.
The Chaikin Money Flow (CMF) currently sits below the zero line, signaling increased selling pressure. This hints that smart money is exiting positions rather than accumulating.
PEPE CMF and BoP Indicators | Source: TradingView
Adding to this bearish weight is the Balance of Power (BoP) reading of -0.52, which underscores a dominance of sellers.
A negative BoP in conjunction with a declining CMF indicates that downward momentum is still very much in play, and bulls will need to defend the critical support at $0.000010 to avoid deeper losses.
Furthermore, a death cross has formed with the 50-day exponential moving average (EMA) dropping below the 20-day EMA, as the dominance of buyers has disappeared from the PEPE price action.
According to TheDataNerd, a wallet labeled 0x6ea deposited 609 billion PEPE tokens (~$6.43 million) into Binance. Despite this large move, the whale still holds a staggering 1.21 trillion PEPE (~$12.77 million).
1 hour ago, a whale 0x6ea deposited 609B $PEPE (~$6.43M) into #Binance
Just now, he still owns 1.21T $PEPE (~$12.77M)
Address:https://t.co/KwoIwhTtL7 pic.twitter.com/XmOt62QDs5
— The Data Nerd (@OnchainDataNerd) June 13, 2025
Such centralized exchange deposits from whales often precede profit-taking or distribution events. This could explain the over 40% drop in trading volume.
According to the daily chart below, the Relative Strength Index (RSI) is currently at 47, hovering just below the neutral 50 zone. This suggests lackluster buying momentum and hints at potential continuation of consolidation.
The MACD indicator is also turning neutral to bearish, with the MACD line recently crossing below the signal line. No clear bullish crossover has occurred yet, indicating that any upward thrust could be delayed.
The Fibonacci extension levels show that the price currently rests between the 0.382 level ($0.00001325) and 0.236 level ($0.00001202). A breach below the $0.000010 support could drag PEPE back toward $0.00000888 (Fib 0.5) or even $0.0000079, the start of the last rally.
PEPE RSI, MACD, and Fib levels | Source: TradingView
On the upside, a bullish breakout above the flag could lead to a retest of $0.000016, with Fibonacci extension targets of $0.0000245 (1.618) and $0.0000323 (2.618) on the horizon if momentum picks up.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
