Pepe falls! Whales throw 438 billion tokens to the ground

What a disaster, damn it! A fucking whale just dumped 438 billion PEPE tokens worth 3.03 million dollars, losing 434,000 bucks in just an hour. And what happens? Pepe goes to hell and becomes the most volatile meme coin in the bearish market.

I am freaking out about this earthquake in the market. Who on earth would sell with these losses? This is going to mark a before and after for this token in the short term. PEPE has lost all its momentum and is currently trading at a miserable 0.000000758 dollars. Come on, it’s weaker than a politician's promises.

This damn dump caused by the whale has sent the asset below all short-term moving averages, after it tried to lift its head above the 50 EMA. The situation was already delicate, but now with the resistances of the 100 and 200 EMAs above, this is a damn disaster.

The market has responded strongly to what this whale has done, as evidenced by the skyrocketing volume during this drop. PEPE is nearing oversold according to the RSI (,89), but certainly not enough to guarantee a bounce.

The environment is shit, especially with this pattern of lower highs and lower lows since February. And the whale has bailed with losses... can we really trust PEPE in the medium term? Most likely it will continue to fall, especially if more big fish follow suit, although some delusional people will see it as the last capitulation and an "opportunity".

If strong buyers do not appear, PEPE could retest the support from early March at 0.00000065 dollars. If it breaks that level, get ready for more hits, maybe even down to the 0.00000050 dollars zone, which has historically served as psychological support. Those of you holding PEPE, buckle up because twists are coming after this alarm signal.