Pepe Coin Price Prediction as Bitcoin Crashes Below $75k

Frank bevah
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.
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Pepe Coin Price Prediction as Bitcoin Crashes Below $75k

Highlights

  • Pepe Coin Price held firm as Bitcoin slipped below the $75,000 mark.
  • Whale long positions strengthened short-term confidence in PEPE price action.
  • Holding $0.00000350 support could help PEPE retest $0.00000380 soon.

Pepe Coin Price held firm on Wednesday, as Bitcoin slipped below the $75,000 mark. PEPE traded at $0.00000359 after gaining 0.80% in 24 hours. The move showed mild strength while the broader crypto market weakened.

The move was PEPE’s small win amid broad-based sell-offs in the meme coin class. Bitcoin price dropped 2.45% to $74,971, while the total crypto market fell 2% to $2.52 trillion. The downside was driven by poor risk sentiment, new ETF outflows and geopolitics amid the Iran-U.S. peace process.

Whale Long Position Supports PEPE Momentum

Whale activity attracted investor attention as two connected wallets opened massive leveraged long trades on PEPE. Investor attention turned to whale activity when two connected wallets opened up huge leveraged long trades on PEPE.

In spite of the overall weakness, the PEPE received a fresh spotlight from big traders. According to on-chain data, two wallets, probably managed by one whale, bought 10 times more long positions. 

The trades covered 1.31 billion kPEPE, worth around $4.62 million. This was an indicator of the high short-term confidence level and direct buy-side support.

Bitcoin ETF Outflows Remain The Key Market Risk

The overall market continues to sell down. Bitcoin spot ETFs saw $334 million in net outflows, according to SoSoValue data on May 26. 

This was the seventh consecutive day of withdrawals. Spot ETFs for Ethereum also saw withdrawals of $35.03 million, continuing an 11-day losing streak.

The short-term trend for PEPE could depend on Bitcoin. Any price above the $75k-$76k price range may lead to relief buying. If so, future Bitcoin outlook could surge back to $78,500, and continue the rally for PEPE. 

Bitcoin dips below the support level may pull the currency towards $73,000 and continue to push meme coins lower. If Bitcoin breaks below the support level, it may continue towards $73,000 and push meme coins further.

Will Pepe coin Price Recover as Buyers Defend $0.00000350?

The PEPE price is currently trading at $0.00000356 on the four-hour chart with mild weakness near short-term support,

The MACD stays below the zero line which indicates that bearish pressure is not completely wiped out. The MACD lines have been declining but are now leveling off. That’s an indication that momentum selling may be the slowdown.

The Chaikin Money Flow is currently close to 0.09, indicating light money inflows. 

Recent selling pressure has brought PEPE to the $0.00000350 support zone. This level is still significant for short time traders. Any further decline will undermine the ongoing recovery effort.

The chart shows PEPE rejected higher levels near $0.00000380 earlier this week. This area is now the first resistance. A clear move above $0.00000380 could open the path toward $0.00000400 as per full PEPE forecast report.

Pepe Coin Price Prediction as Bitcoin Crashes Below $75k
Source: Tradingview

The negative side is that $0.00000350 is the primary support level to be considered. If sellers break this level, PEPE could fall toward $0.00000340. Another correction can then reveal the $0.00000330 range.

Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Frequently Asked Questions (FAQs)

1. Why is PEPE price gaining while Bitcoin is falling?

PEPE is showing modest strength because whale activity has increased short-term buying interest. This helped the token outperform parts of the weaker meme coin market.

2. Are Bitcoin ETF outflows affecting PEPE?

Yes, Bitcoin ETF outflows can weaken overall market sentiment. When Bitcoin falls, meme coins often face higher volatility and selling risk.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

PEPE

Pepe

$0.00000423 -2.05999994278%

24 Hours volume

$266.91M

Market Cap

$1.78B

Max Supply

420.69T

Buy $PEPE with MEXC
About Author
About Author
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.