PEPE Plunges Again! Will Whales Save or Sink the Meme Coin?

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PEPE‘s little dance down the price ladder has taken it all the way to a tiny $0.000010, falling more than 21% in a rude five-day tumble. And just to make it more thrilling, Arthur Hayes—yes, that charming fellow who once co-founded BitMex—decided to sell off a whopping $13 million worth of his crypto toys, including hats and hats of ETH, ENA, and PEPE. Talk about a crypto tantrum! 😜

Arthur Hayes (@CryptoHayes) just dumped 2,373 ETH (worth $8.32M), 7.76 million ENA (a cool $4.62M), and a staggering 38.86 billion PEPE (about $414.7K) in a frenzy the past 6 hours. No amateurs here, just a whale on the rampage! 🚀

— Lookonchain (@lookonchain) August 2, 2025

So, what does this mean? Well, Arthur’s selling spree wiped out a chunk of PEPE’s value—as in a quick 4% nosedive in a day. But don’t panic just yet—PEPE found a cozy little support at the mystical $0.00001 level, resting like a sleepy frog on a lily pad.

Did everyone selling mean the party’s over? Or is this just a flash flood before the rainbow? 🌈

— Cryptofada (@cryptofada) August 2, 2025

Meanwhile, Bitcoin‘s doing its usual steady thing above $113,000, making all those meme coins look a bit nervous. But hey, seasoned traders know that a bit of profit-taking (and a lot of not-so-secret whale moves) doesn’t necessarily spell doom—just a little popcorn entertainment in the crypto soap opera.

Will the Frogs Leap Back or Will the Whales Pull the Carpet?

Saturday’s PEPE price antics suggest it’s trying to settle down—after bouncing along like a dizzy frog on a lily. The daily chart shows the price flattening out, with trading volumes tapering off like a sleepy summer afternoon. Could this be a sign that the selling frenzy is cooling? Maybe.

Currently, PEPE is just hanging on above the sneaky lower Bollinger Band at about $0.00001024, with the big resistance boulders from the 20-day EMA waiting at $0.00001249. The MACD lines are giving a gloomy bearish vibe, but the shrinking histogram bars whisper that perhaps the selling storm is losing steam. 🤞

If PEPE can stay above the $0.000010 mark this weekend, some daring traders might aim for a bounce back toward $0.000012 or even $0.000013, where the 20-day EMA and mid-Bollinger point seem to shake hands. Break through there, and it might just eye the big prize at $0.00001450.

But beware! If Arthur and the whale gang decide to dump again with their big digital buckets, then PEPE risks crashing below $0.000010—possibly heading down to support levels near $0.000009 or even $0.000008. Yikes.

All eyes are on Bitcoin’s rock-solid $110K support—if that holds, PEPE’s fate remains in the hands of those sneaky whale exits or the brave traders who see the $0.00001 level as the perfect re-entry point. Stay tuned, Frog Fanatics! 🐸

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2025-08-02 20:18