Pepe Coin Plunges to Multi-Month Low Amid Crypto Market Turmoil
Pepe coin (PEPE) has hit a new low of $0.0000388, its lowest point since February 2024. This sharp decline triggered over $20 million in liquidations. The crash coincided with broader crypto market turbulence following President donald Trump’s new tariffs on China. This move led to $19 billion in liquidations and over $500 billion in total losses across the crypto market.
Whales and savvy investors have been selling off their Pepe holdings. Between September 26 and last Friday, whales offloaded over 1.5 trillion coins. Investors also dumped over 2 million coins, reducing their holdings from 3.17 trillion to 1.67 trillion.
Technical analysis reveals two risky patterns on Pepe’s daily chart. The first is a descending triangle, with its lower side at $0.0000091. The second is a giant head-and-shoulders pattern, with the head at the all-time high of $0.00002821. these patterns suggest further price drops.
Experts predict Pepe’s price will continue to fall in the coming weeks. The initial target is the year-to-date low of $0.0000038, followed by $0.0000020. For more insights, check crypto.news.
