- PEPE has declined 60% over the past two months, currently trading around $0.000010 after hitting a three-month low.
- A whale recently withdrew 375.35 billion PEPE worth $3.71 million from Binance, indicating large investors are accumulating during the dip.
- Historical analysis shows PEPE's current price action mirrors last year's pattern, which preceded a nearly 10x rally from February to March.
- If Ethereum recovers and the historical pattern repeats, PEPE could be positioned for another explosive rally from current accumulation levels.
Date: Thu, February 6, 2025 | 03:55 AM GMT
Despite Bitcoin (BTC) maintaining strong momentum, major memecoins and altcoins have been struggling to hold their ground. Since the November-December rally, many altcoins have undergone a steep correction, largely influenced by Ethereum’s (ETH) sluggish performance. ETH remains down over 29% in the last 60 days, failing to regain upside momentum.
Among the biggest declines is Ethereum’s top memecoin, Pepe (PEPE), which has faced a sharp 60% correction over the past two months. Currently, PEPE is trading around $0.000010 after hitting a three-month low.
Whale Accumulation
As PEPE reaches this critical dip, whale activity has started drawing attention. According to Onchain Lens, a whale withdrew 375.35 billion PEPE worth $3.71 million from Binance 11 hours ago.
This suggests that large investors are accumulating PEPE at lower levels, possibly anticipating a rebound.
Historical Pattern
According to crypto analyst Jameson, PEPE’s current price action on the 12-hour chart mirrors its performance from last year. Back then, the memecoin experienced a steep correction in December, followed by a failed breakout in January, and another dip in early February before rallying nearly 10x to March, jumping from $0.0000011 to a peak of $0.00001081.
With this historical fractal repeating, if Ethereum (ETH) recovers, PEPE could be primed for another explosive rally.
Final Thoughts
For traders watching memecoins, PEPE remains a key memecoin to monitor as the broader crypto market shows renewed strength. If history repeats itself, this dip might just be the perfect accumulation zone before a potential breakout.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before making investment decisions.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
