Pepe Coin Plunges to Multi-Month Low Amid crypto Market Turmoil
Pepe Coin (PEPE) has hit a new low of $0.0000388,its lowest as February 2024. This drop triggered over $20 million in liquidations. the crash coincided with broader crypto market turbulence following President Donald Trump’s new tariffs on China. This move led to $19 billion in liquidations and $500 billion in total crypto market losses.
Whales and savvy investors have been selling off their Pepe holdings. Between September 26 and last Friday, whales offloaded over 1.5 trillion coins. Investors also dumped over 2 million coins, reducing their holdings from 3.17 trillion to 1.67 trillion.
Two risky patterns on the daily chart explain the sell-off. The first is a descending triangle, with its lower side at $0.0000091. The second is a giant head-and-shoulders pattern, with the head at the all-time high of $0.00002821. The neckline is at $0.0000056, its lowest since March and April this year.
These patterns suggest Pepe’s price may continue to fall. The initial target is the year-to-date low of $0.0000038, followed
