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How low can Pepe Coin (PEPE) drop after the whale-triggered selloff?

  • Whales have sold off over 1.1 trillion PEPE coins
  • Technical indicators signal a potential for further decline
  • The immediate support is at $0.00000782, with the risk of a drop to $0.0000060

Pepe Coin (PEPE) has been on a downward spiral, with its price plummeting to around $0.000012, marking a 17% drop in the last 24 hours and a 28% decline over the past week.

This sharp downturn has brought PEPE to its lowest level since November 13, with the coin now trading 54% below its peak in December.

Whales have sold off over 1.1T PEPE coins

The main catalyst behind this price crash appears to be the significant selloff by large investors, often referred to as “whales.”

These investors have moved over 1.1 trillion PEPE tokens to exchanges in a very short period, creating an oversupply in the market.

These movements have not only increased the supply of PEPE on exchanges by 1.31% (from 237.18 trillion to 240.28 trillion), but also suggest a bearish outlook among major holders, further fueling market instability.

Technical analysis points to a more bearish sentiment

PEPE price’s technical analysis is fraught with signals of potential further decline:

  • Death Cross Formation: The convergence of the 200-day and 50-day weighted moving averages is hinting at a death cross, which if confirmed, would solidify the bearish sentiment.
  • Support and Resistance Levels: PEPE is currently trading within a range established in April 2024, with boundaries between $0.00000633 and $0.00001461. The immediate support level to watch is around $0.00000782, with further support at $0.0000060, a level last seen in August.
  • MACD and RSI: Both the Moving Average Convergence/Divergence (MACD) and the Relative Strength Index (RSI) are showing continued declines, suggesting that the selling pressure might persist, pushing the price closer to these support levels.
How low can Pepe Coin (PEPE) price drop
Pepe Coin (PEPE) price chart by TradingView

Will the PEPE price rebound soon?

Following the dip, the market sentiment around PEPE has turned notably negative, with smart money investors drastically reducing their exposure. The count of smart money holders has decreased from 91 in December to 69, with their holdings dropping from nearly 12 trillion to 9.5 trillion PEPE tokens.

This divestment by informed and large-scale investors signals a lack of confidence in PEPE’s short-term recovery.

Given the current whale activity, technical patterns, and declining investor confidence, Pepe Coin could see further price drops. If the support at $0.00000782 fails to hold, a decline towards or even below $0.0000060 is plausible, representing a potential 56% drop from its current level.

However, while the current scenario looks bleak, there’s always the possibility of a rebound in the volatile crypto market. Factors like a surge in Bitcoin (BTC) due to favourable economic policies or renewed interest in meme coins could provide a lifeline for PEPE.

However, at this juncture, these scenarios appear to be on the horizon rather than immediate solutions.

The post How low can Pepe Coin (PEPE) drop after the whale-triggered selloff? appeared first on CoinJournal.

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MEXC’s Insurance Fund Account Provides $414M+ to Mitigate Traders’ Bankruptcy Losses

MEXC, a leading global cryptocurrency exchange, has provided over $414 million through its Insurance Fund Account to cover deficits that occur when users’ losses during liquidation exceed their available margin as of January 23, 2025. This impressive figure underscores MEXC’s commitment to asset security and risk mitigation. Combined with Proof of Reserve, MEXC offers traders robust protection against extreme market fluctuations. 

How MEXC’s Insurance Fund Account Mitigates Risk for Traders

The MEXC Insurance Fund Account, launched in November 2024, is specifically designed to protect traders from extreme market fluctuations, such as those experienced during a bull run, where rapid price swings can lead to a user’s account value to dip below the required margin level, triggering a liquidation. Should the liquidation price be worse than expected, resulting in losses that exceed than the available margin (a scenario known as bankruptcy), the Insurance Fund steps in to cover these excess losses, thus facilitating a smoother liquidation process.

The fund is continually replenished by surpluses generated from liquidation orders executed at better-than-expected prices, ensuring its stability and ongoing protection during periods of high volatility. 

In line with its commitment to transparency, MEXC provides users with direct access to both current and historical insurance fund amounts for various cryptocurrencies on the platform.

In addition, MEXC provides Proof of Reserve to ensure asset safety and maintain transparency for its users. This allows users to trade with confidence, free from concerns about withdrawal runs. The reserve rates are updated every two months. As of Dec 1, 2024, the latest reserve rates for various cryptocurrencies are as follows:

  • USDT: 104.52%
  • USDC: 116.52%
  • BTC: 105.88%
  • ETH: 105.65%

By offering high leverage alongside an Insurance Fund Account and Reserve Rate exceeding 100%, MEXC ensures multiple layers of protection to safeguard traders’ positions and ensure asset security. 

The Go-To Platform for Seamless Crypto Trading

In addition to implementing robust safety measures to ensure a secure trading environment, the platform offers a variety of features and services designed to enhance the user experience. These features help traders minimize costs and maximize returns. MEXC is committed to empowering traders by enabling investments across the widest range of assets, ensuring safe and seamless transactions regardless of market conditions.

  • M – Most Trending Tokens: MEXC is known for its rapid token listings and diverse selection of popular tokens, helping users capitalize on emerging opportunities. To date, over 3,000 tokens have been listed on the platform.
  • E – Everyday Airdrops: MEXC makes it easy for users to engage in daily airdrop events and receive substantial rewards without complex procedures. In 2024, the platform completed 2,293 airdrop events, distributing over $136 million in rewards.
  • X – Xtremely Low Fees: MEXC offers highly competitive trading fees, helping users reduce costs and maximize their growth potential.
  • C – Comprehensive Liquidity: Backed by strong liquidity and market depth, MEXC ensures the efficient and seamless execution of every transaction, minimizing slippage even during volatile conditions.

These features have helped MEXC attract over 30 million users across over 170 countries, establishing it as the platform of choice for an increasing number of traders around the world.

Learn more about the MEXC Insurance Fund Account.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

Risk Disclaimer:

The information provided in this article about cryptocurrencies does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions. 

The post MEXC’s Insurance Fund Account Provides $414M+ to Mitigate Traders’ Bankruptcy Losses appeared first on CoinJournal.

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Bitpanda, Crypto.com secures MiCA licenses

  • Bitpanda announced it secured approval as MiCA compliant from Germany’s BaFin.
  • Crypto.com revealed its full-MiCA license via X on Monday.
  • Other platforms have also secured the key regulatory registration following full rollout in December 2024.

Crypto.com and Bitpanda have received approval as Markets in Crypto Assets (MiCA) licensed exchanges, according to announcements from the two companies on Monday.

The Crypto.com team said it had received the full MiCA license. This comes just days after the exchange announced it secured in-principle authorisation from the Malta financial markets regulator.

Bitpanda said in a blog post it had received approval from the German Federal Financial Supervisory Authority (BaFin).

Exchanges get MiCA nod

Approval sees the exchanges add to the growing number of crypto platforms and service providers getting a nod for expansion across the European Union. This follows the rollout of full MiCA laws across the EU at the end of 2024, with multiple exchanges among those to reveal plans for compliance.

MiCA approval allows providers to offer their products and services in the European Economic Area (EEA), a major market for crypto.

Bitpanda deputy chief executive officer Lukas Enzersdorfer-Konrad said in a statement:

“This achievement is the result of a decade of commitment to compliance and regulation. With MiCAR, we are not just meeting the industry’s highest standards, we are setting them. Our focus now is on using this licence to accelerate adoption and growth across the European market.”

Bitpanda and Crypto.com join Boerse Stuttgart Digital, MoonPay, OKX and Hidden Road on the list of crypto platforms to have received MiCA licenses.

The post Bitpanda, Crypto.com secures MiCA licenses appeared first on CoinJournal.