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PEPE Coin Price Prediction Amid Latest Wallet FUD

PEPE coin price is ringing alarm bells for the bulls after breaking below the critical support level of $0.000000105. I mentioned this support level in my previous analysis. The coin sat 16.3% below the $0.000000105 key level and traded at $0.00000089 at press time.

The entire crypto market suffered a blow last week due to Bitcoin plummeting by 11%. This caused an intense sell-off in altcoins as well. Pepe was no exception as the memecoin plunged by 23% during the same period.

PEPE Crypto Tumbles Amid Major Multisig Change

A Twitter user recently reported a major change in the multisig authentication of a major PEPE wallet. An anonymous developer suddenly changed the number of signatures required for transactions from 5/8 to 2/8. A large amount of the PEPE coins was then transferred to several crypto exchanges. This move from the developers triggered the 20% decline in the memecoin price.

However, most holders remain unfazed by the plummeting PEPE coin price. One user exclaimed that the token belonged to the community and there was a minimal risk of a rug pull due to six of the top 5 holders of PEPE being central exchanges. It is also interesting to note that the number of frog-themed memecoin holders has reached an impressive 140,000.

PEPE Coin Price At Mercy Of The Bears

In my previous analysis for PEPE, I mentioned a critical support level of $0.000000105. I also mentioned that if the price breaks below this level, this might trigger a sell-off in the popular memecoin.

Pepe coin price prediction has flipped bearish once again due to a breakdown below the $0.000000105 level. It is critical for the bulls to reclaim the $0.000000105 level to see any bullish pressure. If the bulls fail to do so, the holders must prepare for another bearish leg in the coming days.

In the meantime, you are also welcome to follow me on Twitter to keep track of my personal trades and the next 1000x Gems.

Pepe coin price chart
PEPE Crypto Chart