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Key Takeaways:
- Pepe achieved a new all-time high of $0.000028 on December 9.
- Following an increase in November and December, the price began to decline.
- Several whales have started liquidating their Pepe assets.
Pepe (PEPE) experienced growth throughout November, but the price began to decrease in mid-December, briefly nearing $0.000010.
The last quarter of 2024 was favorable for PEPE. On December 9, the meme coin hit an all-time high of $0.000028. The price then sharply fell to $0.000014 on December 20 and made several attempts to stabilize above $0.000020.
The downward trend persisted into 2025, with Pepe dropping to $0.000011.
Source: CoinGecko
The future for Pepe appears uncertain. Some community members express skepticism, while others contend that it is premature to declare the project defunct.
Pepe remains among the top five meme coins by market capitalization. It is currently ranked third with a market cap of $5.4 billion, while Official Trump (TRUMP) closely follows at $5.1 billion.
Source: CoinGecko
Are the Pepe Whales Capitulating?
Lookonchain has detected activity from significant PEPE holders. On January 26–27, some whales liquidated their meme coin assets.
One of the largest holders sold 430 billion PEPE for approximately $6.39 million on January 26.
Many whales have recently divested their entire $PEPE holdings.
0xfBfC…07Be deposited 430B $PEPE($6.39M) to #Binance 9 hours ago.
marketparticipant.eth deposited 325.5B $PEPE($4.9M) to #Binance 24 hours ago.
0xb1a2…6731 sold 200.88B $PEPE for 2.85M $USDC in the past 48… pic.twitter.com/oJlJpEUbtv— Lookonchain (@lookonchain) January 27, 2025
On January 1, a whale holding approximately 2.1 trillion PEPE transferred the tokens to another address without selling. This holder initially acquired PEPE in April 2023, when the price was $0.00000019. Despite the recent downturn, the position remains profitable.
Check out this trade, according to Lookonchain.
This $PEPE whale purchased 2.1 trillion of $PEPE for $27 (0.0135 ETH).
He waited 600 days and transferred the assets, now valued at $52 million, to a new address.
A 1,900,000x return. pic.twitter.com/R3mjkbBjxG— unusual_whales (@unusual_whales) January 1, 2025
CoinCarp data indicates that the number of PEPE holders increased from 369,669 on January 2 to 396,154 by the end of the month, representing a growth of approximately 7.16%.
Source: CoinCarp
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Is the Future of the Meme Coin Uncertain?
PEPE’s price fell nearly 60% from its all-time high to $0.000014, the lowest in 30 days.
Some traders capitalized on the decline. Crypto trader Shah views the correction as “healthy.” He also highlights Base, the second network after Ethereum on which PEPE operates, as having the potential to affect the price.
$PEPE (BasedPepe) is one of my favorite base charts right now
healthy retracement and nearly tapped the global golden pocket FIB recently
Been adding on dips, believe in something market soon and with the attention base has recently gained due to AI, bullish for the memes. pic.twitter.com/v1c15l8cve— shah (@shahh) January 31, 2025
PEPE’s correction may align with broader market trends, as most meme coins and altcoins remain within a significant trading range.
One example is Popcat (POPCAT), which was among the fastest-growing meme coins in Q3–Q4 of 2024 and ranked within the top 10 in its category. However, it has now shifted into the weak category based on RSI indicators, while many meme coins remain in a neutral zone.
Source: Coinglass
Another trader, Kaleo, is also optimistic about PEPE’s prospects. He suggests that meme coins may experience further declines but could have a chance for recovery.
As much as I’d like the bottom for memes to be in, I still think there’s a good chance we see one more flush HTF trend breakdowns like this one for $PEPE.
Setting some stink bids in this range. If they hit, we ride them to Valhalla. pic.twitter.com/8DfAvqEc09— Ok A L E O (@CryptoKaleo) January 30, 2025
The meme coin market continues to be volatile and unpredictable. While it attracts traders with potentially high returns, projects often have short lifespans, leading to price declines.
One of PEPE’s advantages is its significant growth in November and December 2024. This has contributed to building a large community, establishing it as the leading meme coin in the frog-themed category.
Source: CoinGecko
Additionally, one of the notable developments in the crypto market in December 2024 was the “comeback” of NFTs. That month, the Pudgy Penguins token (PENGU) was launched, surging by over 500% in just a few days following its airdrop.
The NFT market, which had appeared dormant, became one of the most liquid sectors within the crypto space. Blockworks researchers calculated that PENGU’s value increased by 2,009% year-to-date. In comparison, as of December, Solana (SOL) had risen by 1,850%.
Source: Blockworks
Among the top 25 coins by market cap, only PEPE outperformed PENGU and another NFT collection, Milady, with an 8,328% year-to-date gain.
The post Is Pepe Price Bottoming Out? appeared first on Cryptonews.
