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Pepe (PEPE) Faces Pressure at $0.0000035 as Whales Retreat
Pepe is trading near $0.0000035, down 4.7% as selling pressure intensifies . The meme coin struggles with an RSI of 41 and a negative MACD, indicating weak momentum . Technicals show Pepe trading below its 20-day and 50-day EMAs, with the death cross between moving averages constraining upside potential .
On-chain data reveals major holders continue reducing positions while market risk appetite remains fragile . If support at $0.00000345 fails, analysts warn of a decline toward $0.00000310 . The broader altcoin environment remains challenging—CryptoQuant notes capital distribution hasn't expanded beyond Bitcoin, forcing smaller tokens to wait for stronger demand . For now, Pepe must defend current levels or risk further downside.