Pepe Coin Price Analysis: Bearish Triangle Warns of 30% Drop as Whales Exit

Pepe Coin (PEPE) has recorded a 4.35 gain in 24 hours to trade at $0.000011 on June 14. PEPE’s trading volumes also stood at $914 million, highlighting strong market interest. Despite these gains, which likely stem from typical weekend volatility, Pepe Coin price still faces a 30% crash as it trades within a bearish triangle pattern. Lack of interest from whales is also fuelling the likelihood of a price decline.

Pepe Coin Price Risks 30% Crash as Bearish Triangle Emerges

Pepe Coin has formed a descending triangle pattern on the daily timeframe. This is a bearish continuation pattern signaling that the price decline that started after the May 23 swing high of $0.0000163 could continue.

This bearish formation also shows that while the buyers of this top meme coin have been defending the key support price at $0.0000106, sellers are gradually gaining control as they push Pepe Coin price to lower highs. The surge in sell-side pressure is depicted by the volume histogram bars that have been predominantly red within the triangle formation.

If sellers outpace buyers, Pepe Coin could drop below the $0.0000106 support level. This will confirm the bearish outlook of the triangle pattern, and a 30% crash to $0.0000750 could commence. This crash is equal to the height of the descending triangle.

The RSI and the MACD indicators also confirm this bearish outlook. The RSI has dropped to 44 while the MACD line has dropped to the negative side as histogram bars turn red, indicating that the momentum is bearish. This increases the possibility of Pepe Coin price dropping by 30% in the near term.

The bearish MACD crossover also confirms that a 40% rally for Pepe Coin price, as earlier reported by CoinGape, may fail to occur. The previous analysis noted that for a bullish breakout, PEPE price would have to overcome resistance at around $0.0000144 for it to undergo a reversal.

Whale Netflows Plummet 97%

Besides hinting towards a bearish continuation, a descending triangle can also point to whale distribution as whale netflows decrease. IntoTheBlock data depicts that large holder netflows have declined from 3.77 trillion to 95.44 billion within seven days, which signifies a 97% drop.

This decline shows that whales are not willing to accumulate PEPE at the current price and instead, they could be in a distribution phase. These large addresses could be waiting for a local bottom before they can step in. Amid a lack of strong whale demand to absorb the sold coins, Pepe Coin price may face a massive crash, possibly to $0.0000750.

In conclusion, the price of PEPE Coin is under bearish pressure as it forms a descending triangle pattern on the daily timeframe. On-chain data is also highlighting a negative outlook as whales remain on the sidelines after large holder netflows declined by more than 97%.

As short-term trends trigger concerns, this long-term Pepe Coin price prediction shows what to expect from the meme token from 2025 to 2030.