Pepe Coin (PEPE) Price Prediction Hints at a Bearish Sentiment as Whales and Retail Traders Turn Bearish on PEPE

PEPE price is just above critical support, and an analysis of traders' behavior suggests a potential crash if market conditions remain the same.

Pepe Coin price analysis reveals a bearish outlook with key observations:

* Large Pepe Coin holders (wholes) have been offloading their assets, as indicated by a net outflow of 1.16 trillion PEPE from their wallets on August 28.

* Despite the overall market recovery, Pepe Coin price daily candle for August 28 shows a struggle between buyers and sellers, with a larger upper wick indicating aggressive selling pressure.

* Exchange flows data shows a net positive inflow of PEPE into exchanges, indicating that whales might be preparing to sell their assets, as exchanges are typically where trading occurs.

* Open interest (OI) dropped 4.3%, while the price increased by 0.14% in the last 24 hours, suggesting indecision among traders on whether to close their shorts and long positions or remain in the market.

* The Coinglass Liquidation Map shows more Shorts than Longs positions, indicating a bearish market sentiment with traders anticipating a further drop in Pepe Coin price.

* If a critical support level of around $0.00000700 fails to hold, the price could drop further by 22%, reaching the August 5 lows of around $0.00000585.

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