PEPE price drops 55% in five weeks, breaching the $0.000010 support with a potential pullback to $0.0000070.
WIF token plunges 80% from $3.72 to $0.74, retesting the 50% Fibonacci level for a possible V-shaped recovery.
Whales accumulate over $28 million in WIF and PEPE, signaling strong confidence despite market-wide fear.
As the Crypto Fear and Greed Index drops to 35, representing growing fear, meme coins are on a declining trend. The top meme coins’ market capitalization has dropped to $69.05 billion, marking a 40% decline over the past 30 days.
The frog-themed meme coin PEPE lost its $0.000010 psychological mark and $4 billion market cap. Similarly, dogwifhat has declined nearly 37% over the past 7 days, losing its critical $1 support.
Furthermore, the WIF token has lost its $1 billion market cap, raising concerns over a major crash. Despite the bearish outlook, strong supporters see this dip as an entry opportunity at discounted prices.
Whale Accumulation: Big Players Enter the Market
As per a recent by Spot On Chain, multiple whales are accumulating meme coins like WIF and PEPE amid the market crash. On Binance, whale 0xf37 recently withdrew 375.35 billion PEPE worth $3.73 million, marking its first major accumulation.
Similarly, whale A3kTT ended its two-year dormancy, returning for more meme coins. The whale withdrew 6.5 million WIF tokens worth $5.2 million in the past 24 hours.
Whale 4x3mm has withdrawn 9 million WIF tokens worth $7.42 million over the past 12 hours. Despite previously losing $1.35 million on their first WIF trade, the whale remains optimistic about the meme coin’s recovery.
The buying streak , as a smart whale 0xE7D spent 972.642 ETH to purchase 280.85 billion WIF tokens, worth $2.62 million. This increased the whale’s PEPE portfolio to 1.404 trillion tokens, worth $13.2 million, with a 328% return.
Additionally, a fresh whale 4FhFI created a new wallet to withdraw 9.48 million WIF tokens, valued at $7 million, from . Furthermore, institutional players are also entering the market.
Ansem spent 867,932 USDC to purchase 1.97 million Fartcoins at $0.44. Additionally, the institution spent $1.2 million USDC to buy WIF, but later sold it for $1.07 million USDC, realizing a loss of $128,000.
PEPE Price Action: Consecutive Bearish Candles Signal Weakness
On the weekly chart, PEPE has formed five consecutive bearish candles, marking a 55% price drop. As the frog-themed meme coin loses its $0.000010 psychological mark, it also breaches the local support trendline, warning of a potential pullback to $0.0000070.
However, the lower price rejection in the weekly candle reveals crucial buyer support, hinting at a possible recovery.
WIF Price Action: Testing a Crucial Fibonacci Level
Unlike PEPE, WIF has witnessed a severe 80% pullback over the past 9 weeks, dropping from $3.72 to $0.74. The pullback is now retesting the 50% Fibonacci level, with lower price rejection near critical psychological support.
If whale accumulation continues, WIF might trigger a V-shaped reversal, signaling a strong recovery ahead.
Conclusion: Can Meme Coins Recover from This Crash?
Despite the steep decline in meme coin valuations, whale accumulation signals a growing interest from big players. Technical indicators show PEPE testing key support levels, while WIF is nearing a potential V-shaped recovery.
If whale buying pressure sustains and market sentiment improves, meme coins could witness a strong rebound in the coming weeks. However, if fear continues to dominate, further corrections could follow before a meaningful recovery begins.