Analyst Sees PEPE Hitting $0.00039 Despite Whale Sell-Offs
Pepe Coin (PEPE) has dropped 7.4% in the past 24 hours to $0.00001119, triggering over $6 million in long liquidations as whales sold more than 400 billion tokens. Despite the sell-off, analyst CryptoElites believes PEPE could still rally to $0.00039 — a potential 40x increase — if its ascending trendline holds.
The analyst notes that PEPE has consistently bounced from key support levels, and its current position suggests another potential rebound, provided historical patterns repeat. However, a drop below $0.000010 could shift sentiment toward a bearish scenario targeting $0.0000070.
Data from IntoTheBlock shows whale holdings fell from 1.09 trillion to 610 billion tokens in the last 24 hours. Large holders appear to be trading short-term moves — buying on rebounds and selling on dips. Their current selling pressure, combined with the long squeeze, has fueled PEPE’s decline.
If selling eases and sentiment turns bullish, PEPE could resume its climb toward $0.00039, in line with the analyst’s long-term optimistic outlook.
