Key Notes
- PEPE price drops 21% in five days, retesting $0.00001 for the first time since July 9.
- Arthur Hayes liquidates $13M in ETH, ENA, and PEPE, stoking bearish sentiment.
- Flat candles and waning sell pressure hint at a potential local bottom near $0.000010.
PEPE price plunged to $0.00001 on Saturday, shedding over 21% during a five-day losing streak. The latest leg of the PEPE price dip comes amid a $13 million sell-off from BitMex co-founder and longtime Bitcoin maximalist Arthur Hayes.
Arthur Hayes(@CryptoHayes) sold 2,373 $ETH($8.32M), 7.76M $ENA($4.62M) and 38.86B $PEPE($414.7K) in the past 6 hours.https://t.co/1HymJRPhcj pic.twitter.com/MoJNKUjJaQ
— Lookonchain (@lookonchain) August 2, 2025
Hayes sold 2,373 ETH worth $8.32 million, 7.76 million ENA for $4.62M, and 38.86B PEPE tokens worth approximately $414.7,000, according to on-chain data from Lookonchain.
The PEPE selloff was followed by an immediate 4% price decline in the last 24 hours, before finding support at the psychologically significant $0.00001 level at press time. Such major sell-offs from key opinion leaders and known long-term investors like Arthur Hayes often signal heightened market panic.
With everyone selling, Does this mean it’s over?
— Cryptofada (@cryptofada) August 2, 2025
However, with Bitcoin price still consolidating well above $113,000, double-digit corrections seen in top altcoins and memecoins like PEPE over the past week are likely attributed to traders booking profits, rather than a complete reversal of the bullish market cycle.
PEPE Price Forecast: Can Bulls Defend $0.000010 or Will Whales Force a Breakdown?
PEPE’s intraday price action on Saturday shows signs of market stabilization after shedding 21% in 5 consecutive losing days. The daily candle body has flattened, and trading volumes have thinned, a potential signal that the market is finding a balance and sellers becoming less aggressive.
As seen below, PEPE price is now hovering just above the lower Bollinger Band at $0.00001024, with resistance from the 20-day EMA looming at $0.00001249.
With the MACD line below the signal line, PEPE price is still firmly within bearish territories. However, the histogram bars are beginning to shrink, hinting at a decline in selling pressure.
If PEPE can maintain support at $0.000010 through the weekend, traders may see a rebound attempt toward $0.000012–0.000013, where the 20-day EMA and mid-Bollinger level converge. A breakout above this zone would open room for a retest of $0.00001450.
Conversely, if Arthur Hayes or other whale wallets resume heavy selling, the $0.000010 level could be breached, exposing PEPE to deeper support levels near $0.000009 or even $0.000008.
With Bitcoin’s consolidation above $110,000 anchoring the markets against more volatile headwinds, PEPE’s near-term price trajectory depends heavily on whether current whale exits continue or if savvy dip-hunting traders consider the $0.00001 a strategic re-entry point.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
