The popular Pepe meme coin experienced significant downward pressure over the weekend, falling 14% to $0.000014 as part of a broader cryptocurrency market decline. The selloff coincided with increased market uncertainty following geopolitical tensions, including threats of higher tariffs on European goods and Apple products, which pushed the total crypto market cap down from $3.5 trillion to $3.4 trillion. As the second-largest Ethereum-based meme coin, Pepe’s retreat reflects the heightened risk sentiment affecting digital assets across the board.
On-chain analytics reveal troubling patterns in Pepe’s holder composition, with whale addresses continuing to reduce their positions throughout recent weeks. According to Santiment data, large holders now control approximately 141.2 trillion coins valued at $1.4 billion, representing a significant decrease from 165 trillion tokens held in February and marking the lowest whale concentration since November of last year. Similarly, Nansen data indicates that sophisticated “smart money” investors have been systematically reducing their Pepe holdings from 380 billion tokens a year ago to just 244 billion currently, suggesting experienced traders may be anticipating further price weakness.
Exchange balance metrics provide additional cause for concern, as the total Pepe supply held on trading platforms has increased to 252.9 trillion tokens from a weekly low of 251.3 trillion. This uptick typically signals that more investors are moving their holdings from cold storage to exchanges in preparation for selling, potentially creating additional downward pressure on the token’s price. The combination of whale distribution, smart money exits, and rising exchange balances paints a challenging near-term picture for the meme coin.
Despite these bearish fundamentals, technical analysis reveals potentially bullish signals that could attract renewed investor interest. The daily chart shows Pepe approaching a golden cross formation, where the 50-day exponential moving average is set to cross above the 200-day exponential moving average—a pattern historically associated with sustained upward momentum. Additionally, the token has formed a rounded bottom pattern, which often precedes significant rallies. If Pepe can break above this week’s high of $0.00001625, technical analysts suggest the token could potentially reach new all-time highs around $0.00002840, demonstrating how technical patterns can sometimes override fundamental concerns in volatile cryptocurrency markets.
