Pepe coin price forms potential base after 73% collapse — will 23T whale accumulation spark reversal?

💡 DMK Insight

Pepe coin’s price drop to $0.0000036 is raising eyebrows, especially with large holders scooping up 23.02 trillion tokens. This accumulation amidst a 73% market cap decline suggests a potential bottoming out, but it’s crucial to watch how the support zone holds. If the price can stabilize above this level, it might attract more retail interest, but a breach could trigger further selling pressure. The 24-hour decline of 6% indicates volatility, and traders should keep an eye on volume trends to gauge sentiment. The real story is whether these large holders are positioning for a rebound or just trying to average down their costs. Watch for any significant buying volume that could signal a reversal, especially if the price holds above $0.0000035. If it breaks below this support, it could lead to a cascade effect, impacting not just Pepe but potentially other meme coins as well.