PEPE Recent Selloff Signals Renewed Market Pressure

The past 24 hours have been rough for PEPE holders. The meme coin dropped 10.17 percent, lagging the broader market recovery despite maintaining solid ground at 27 percent over the month.

What's Going Wrong?

Technically, things are unraveling. PEPE just broke through multiple moving averages that had been holding the line. The critical support zone between 0.0000053 and 0.0000055 cracked, signaling potential for deeper drawbacks.

Here's the more concerning piece: whale activity shows heavy distribution. Around 2.86 trillion PEPE tokens have been flowing out of large wallets since late last week. When whales start exiting positions at scale like this, retail often follows, creating additional selling pressure.

The combination—technical breakdown plus whale exit—paints a bearish near-term picture. Watch whether the price can stabilize below these support levels or if further capitulation arrives.