Key Takeaways:
- Top whales have exited PEPE, signaling heightened fear in the market.
- Pepe Futures Open Interest has fallen to multi-month lows amid crypto deleveraging.
- Maintaining current support levels is crucial to prevent further selloff and allow a rebound.
- PEPE’s future price movement remains tied to Bitcoin and Ethereum performance.
Pepe Price on the Verge of Further Selloff as Whales Capitulate
Pepe (PEPE), the frog-themed memecoin, is showing signs of a potential sharp selloff after top whales started offloading their holdings. On-chain data reveals a significant decline in demand, with futures Open Interest hitting multi-month lows amid heightened fear of broader crypto capitulation.
Also Read: PEPE Price at Risk as Whale Activity Increases Near Key Support Level
Whale Capitulation Drives Bearish Sentiment
Top-tier investors have been exiting Pepe positions aggressively. Notably, whale 0x2f3 transferred the final $3.7 million worth of PEPE to Coinbase, completely liquidating a position that once held $46 million. Analysts suggest that this wave of selling reflects extreme market caution, as memecoins have seen weakened demand in 2025.
Market analyst Aksel Kibar warns that PEPE price may face a major correction, with a potential target of $0.0000146. Weekly charts indicate a possible head-and-shoulders (H&S) pattern forming alongside a bearish divergence in the Relative Strength Index (RSI), signaling further downside risks.
Deleveraging Amid Weak Bitcoin Performance
The decline in Pepe’s futures Open Interest (OI) underscores ongoing deleveraging in the market. Data from CoinGlass shows PEPE OI dropping from nearly $1 billion to approximately $194 million this year. This coincides with Bitcoin’s prolonged weakness against Gold, which has fueled broader crypto market liquidity concerns.
Also Read: Can Bitcoin Miners Survive 2028 Without Controlling Power?
With PEPE closely correlated to Bitcoin and Ethereum, these altcoins’ performance may continue to influence Pepe’s near-term price movements. The ongoing selloff reflects a market seeking to reduce exposure amid macroeconomic uncertainty.
Support Levels Hold Key to Rebound
Despite bearish signals, Pepecoin is retesting a critical support range that has held since early 2025. If the memecoin can maintain this level, technical analysts see a potential rebound scenario, possibly setting the stage for a new all-time high once Bitcoin and Ethereum recover. Market watchers suggest closely monitoring the support range for signs of stabilization before entering positions.
