Analyst Predicts Pepe Coin Price Crash as Whale Dominance Hits 2023 Lows- Is Sell-Off to $0.000007 Next?

Pepe Coin price trades at $0.0000101 today, August 5, with a notable 4% drop in 24 hours. The meme coin’s ongoing bearish correction comes as a top analyst warns that it might crash to $0.0000070. Meanwhile, whale addresses are exiting, and this is causing the long/short ratio to tumble as bearish sentiment grows.

Pepe Coin Price Outlook as Analyst Forecasts Crash

According to analyst Matthew Dixon, Pepe Coin is standing at a make-or-break point. Looking back at last month’s performance, he points to a bearish divergence on the RSI as a trigger behind the drop from $0.00001448 to $0.0000106 in just two weeks.

He says that because of this crash, two things could happen: the price will continue with the downside or start to bounce. However, the trajectory that the Pepe Coin price takes will depend on whether or not support will hold.

Dixon’s analysis places the support zone between $0.00001 and $0.0000095. He notes that if this top meme coin drops below here, the acceleration to the lower side will be intense. Losing this zone could create panic sellers who force the price to $0.000007.

However, he adds that if there is a chance for bulls to retake control, the resistance zone between $0.0000115 and $0.000012 will play a pivotal role. Reclaiming thus could commence a larger move. However, the main sign that this is going to happen is a bullish divergence with the RSI.

The analyst notes that under current conditions, Pepe Coin is firmly locked in a make-or-break zone in the short term. However, the long-term Pepe Coin price forecast for 2025 and beyond suggests the tides could eventually turn in favor of bullish traders.

Whale Dominance Hits 2023 Lows, Fuelling Bearish Outlook

Whale dominance in Pepe Coin has taken a noticeable hit. According to IntoTheBlock, large holders now control just 43% of the supply, the lowest level since December 2023. If whales continue to exit, it makes it less likely for Pepe Coin to rebound as an earlier CoinGape analysis had anticipated.

What this data suggests is that big-money players are pulling back from PEPE, leaving room for retail traders to take the lead. When this happens, volatility usually picks up. Unlike whales, who often hold long-term positions, retail investors tend to react to short-term sentiment, which means the Pepe Coin price could struggle to hold onto any gains for long.

The whale exit has not happened in isolation. It has been accompanied by growing bearish sentiment. According to Coinglass, the long/short ratio has dropped to its lowest level in a week. On Binance, there has also been a clear uptick in traders opening short positions, signaling expectations of further downside.

Given these conditions, Dixon’s forecast of a potential drop to $0.000007 might not be far off. With more traders betting against the price and whales stepping back, the stage could be set for Pepe Coin to slide further in the short term.