PEPE’s Rally Above 100-Day Average Stalls Amid Continued Distribution.

PEPE Slides Below 100-Day Average as Selling Pressure Continues

Pepe (PEPE), currently the third-largest memecoin by market capitalization, is facing headwinds as it struggles to hold gains above its 100-day simple moving average (SMA) amid persistent selling activity.

On Monday, PEPE briefly climbed above the 100-day SMA at $0.00001009 but quickly reversed, slipping about 1% to $0.00000992, according to data from CoinDesk.

Blockchain data indicates ongoing distribution rather than accumulation, as four high-volume sell-offs have established a descending resistance trendline. Significant transfers of PEPE to exchanges suggest large holders may be liquidating. One notable transaction saw a whale move 500 billion PEPE—valued at roughly $3.85 million—to Binance, underscoring continued volatility in the meme coin market, according to CoinDesk’s AI insights.

Currently, PEPE is trading within a sideways channel, with highs marked by peaks on June 25 and July 3 and lows set on June 22 and July 2. A decisive break below this range could indicate further downside, continuing the broader decline that started after PEPE’s highs on May 23.

Key AI Insights:

• Technical indicators remain mixed for PEPE, with the Relative Strength Index (RSI) at 44.29 and sentiment classified as neutral.
• Recent trading sessions have seen sharp sell-offs with elevated volumes, confirming the presence of a descending resistance trendline.
• Despite short-term uncertainty, some forecasts remain optimistic, projecting PEPE could reach $0.000035 by 2025 and possibly climb to $0.0258 by 2030.
• The token maintains key support around $0.00000099 and is consolidating between $0.0000099 and $0.0000102.
• In the broader memecoin market, rotation persists: Bonk has gained 6-7% amid ETF speculation, while Dogwifhat has dropped 4-10%, testing key support levels amid decreasing trading volumes.