PEPE dips 30%, whale dumps 531B tokens – Can retail turn the tide?

• A whale offloaded 531.63 billion PEPE at a $0.46 million loss. Is confidence shaken among large holders?
• If PEPE fails to reclaim $0.0000100 soon, the price may slide toward support near $0.0000085.

Since hitting a local high of $0.0000135 two weeks ago, Pepe [PEPE] has reversed sharply to trade nearly 30% lower over the month.

The memecoin has dropped into a descending channel, recently bouncing off a local low near $0.00000829.

This slide has sparked diverging reactions across the board, from large holders trimming positions to small-scale buyers stepping in.

PEPE whale cashes out at a loss

Amidst price decline, PEPE whales are exiting their positions as reported by DataNerd.

Reportedly, a whale deposited 531.63 billion PEPE worth $5.06 million into Binance, and the interesting part is – these memecoins were acquired for $5.52 million last week.

This means the whale has locked in a realized loss of $0.46 million.

When whales decide to sell at a loss, it signifies a loss of confidence in the market and fear of making more losses. 

But wait! CEX flows show a different crowd stepping in

While whales have been offloading their PEPE holdings, other market participants seem to be taking a different approach.

Exchange data shows more withdrawals than deposits, with the Exchange Flow Balance dropping to -3.43 billion PEPE. 

This negative flow indicates that buyers on centralized exchanges (CEXs) are outpacing sellers, typically a sign of accumulation.

Adding to that, Coinalyze data reveals that spot buyers snapped up 2.95 trillion PEPE, with a net delta of +139 billion tokens—a strong signal of retail interest.

In short, while whales are exiting, smaller investors appear to be buying the dip.

Diverging sentiment showing on the chart?

As expected, growing selling activity has negatively impacted PEPE’s price action.

In fact, at the time of writing, PEPE had fallen 6.12% in 24 hours and was trading at $0.000009407.

This bearish outlook also extends to weekly and monthly charts, dropping by 7.78% and 31.22% respectively. With losses recorded across the charts, it signals strong downward momentum.

Momentum indicators, too, painted a grim picture.

According to TradingView, PEPE’s Relative Strength Index (RSI) dipped to 40 from 43 the previous day, at press time, remaining below the neutral 50 mark, which signals bearish momentum.

Additionally, the Chaikin Money Flow (CMF) stood at -0.10, pointing to continued capital outflows.

If PEPE declines further, it could find support near $0.0000085. However, consistent buying by retail traders might help reverse the trend.

A strong daily close above $0.0000100 could shift market sentiment and set the stage for a potential recovery.