Pepe Coin is facing renewed selling pressure after investors moved 7.4 trillion tokens to exchanges in November. The token has already fallen 83% from its yearly high, and market indicators suggest the decline may continue.
Pepe Coin is trading near $0.0000045, close to its October lows when liquidations accelerated. Data from Nansen shows that exchange balances have risen to 258 trillion tokens, up from 251.16 trillion at the start of the month. The sharp increase signals that holders are sending their tokens to exchanges, often a sign of plans to sell.
Whale activity also points to weakening confidence. Large holders now control 4.65 trillion tokens, down from 6.28 trillion in August, indicating ongoing selling by major investors.
The trend is consistent with broader weakness in meme coins. Dogwifhat’s circulating supply has risen from 592 million in October to 616 million, while Bonk’s supply climbed from 22.8 trillion to 24.67 trillion over the same period.
Technical indicators reinforce the bearish outlook. Pepe Coin recently fell below the key support level of $0.000005300, which marked the neckline of a large head-and-shoulders pattern.
The token also trades below its 50-day and 200-day exponential moving averages, showing sustained downward momentum. The Supertrend indicator remains in bearish territory, and the chart has formed an inverse cup-and-handle pattern.
Analysts say this setup increases the risk of further decline. If selling continues, Pepe Coin could slide toward the next major support near $0.0000020 in the coming weeks.
