PEPE tumbled alongside broader crypto market weakness, with total futures liquidations exceeding $1.2 billion. Whale activity suggests bullish sentiment despite technical indicators pointing to further downside risk.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
2 mins read
Pepe PEPE $0.000007 24h volatility: 2.7% Market cap: $2.85 B Vol. 24h: $396.25 M price tumbled 8% to hit $0.00007 on October 17, mirroring the broader market downtrend. On-chain data shows prominent whale investors placing bullish bets after a major liquidation event, flashing rebound hopes.
PEPE was caught in the crosshairs of the crypto market downturn on Friday as traders priced in weaker short-term prospects amid the lingering US government shutdown. Bitcoin BTC $107 059 24h volatility: 1.3% Market cap: $2.13 T Vol. 24h: $60.00 B retreat below $109,000 triggered a cascade of liquidations across altcoins, pushing total crypto futures liquidations above $1.2 billion within 24 hours, according to a Coinspeaker report.
On-chain analytics platform Lookonchain alerted its 651,000 followers to conspicuous wallet movements from pseudonymous whale traders JamesWynnReal and Machibigbrother.
According to the post, all existing positions from James Wynn were liquidated, while Machi’s partial liquidation brought total realized losses to over $53 million on the Hyperliquid decentralized exchange.
After getting completely liquidated, James Wynn(@JamesWynnReal) reopened a 10x long on $PEPE — but less than 6 hours later, he got partially liquidated again! 😬
Remaining position: 39.2M $kPEPE($271K)https://t.co/WrQWvRKTQ3 pic.twitter.com/tbrln4If61
— Lookonchain (@lookonchain) October 17, 2025
Despite the heavy losses, Lookonchain data showed that James Wynn reentered the market, opening fresh long positions on PEPE using 10x leverage. Within six hours, those positions faced partial liquidation again, leaving about 39.2 million $kPEPE ($271,000) still open.
PEPE’s weekly chart shows a confirmed bearish pennant breakdown, extending the token’s three-week losing streak. Prices dropped below the $0.00000718 Bollinger midpoint, confirming a continuation of the prevailing downtrend.
PEPE price is currently hovering around $0.0000067, having rejected the upper pennant boundary near $0.0000105 earlier this month. The breakdown was accompanied by a 10% weekly decline in price and a noticeable uptick in trading volume, indicating active sell-offs from large investors.
PEPE Price Forecast, Oct 17, 2025 | Source: TradingView
Technical indicators further validate the bearish setup. The Relative Strength Index (RSI) has fallen to 38.84, crossing beneath its 14-day average of 46.15, signaling strengthening downside momentum. Meanwhile, the widening Bollinger Bands suggest volatility expansion, which often precedes sharper directional moves.
If sellers maintain control, PEPE risks retesting the $0.0000060 supply zone, last tested March 2025. A sustained close below that level could trigger a deeper correction toward $0.0000045, completing the pennant formation.
Conversely, any rebound above the $0.00000718 Bollinger midpoint would be the first sign of waning bearish pressure. However, bulls would need a decisive weekly close above $0.0000105 to invalidate the bearish forecast and set sights on a potential rebound toward $0.000014.
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.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
