Pepe’s price has fallen more than 54% from its peak in December 2024 as major holders dump their holdings.
At the time of writing the article token-the meme was trading at 0,00001210, its lowest level since November 13, 2024.
Pepe volume on exchanges is increasing, according to analytics platform Nansen, indicating continued pressure from investors to offload their holdings. The number of tokens on exchanges rose 1,31% to 240,28 trillion, up from 237,18 trillion the week before.
Among the most active sellers of Pepe are large owners of the asset. According to Lookonchain, several crypto whales have transferred their assets to exchanges. Over the past 24 hours, one of them has contributed to the crypto exchange Binance almost 430 billion Pepe for $6,39 million, the other — 325,5 billion tokens for $4,9 million.
The daily chart shows that Pepe has formed a bearish head and shoulders pattern. Other patterns also show that the memecoin will continue to lose value in the near future.
Pepe’s collapse coincided with the decline of other meme tokens. For example, Shiba Inu has fallen 45% from its November peak, while Bonk has fallen 57% over the same period.