"PEPE Plunges, Smart Money Buys 250B at $0.000009235"

PEPE, the popular memecoin, has recently experienced a significant decline in price, dropping back to its November 2024 levels and currently trading at around $0.000009235. This correction has been particularly harsh for memecoins compared to other cryptocurrencies, with PEPE being no exception.

In a notable development, a new wallet has opened a substantial position of 250 billion PEPE, valued at approximately $2.31 million, around the historical price level. This significant buy could indicate smart money accumulation, potentially signaling a reversal in the coin's fortunes.

PEPE's price has fallen back to its November 2024 price levels, now trading around $0.00000890 after a prolonged sell-off from its December highs near $0.00002800. The coin is currently hovering just above the critical sell-side liquidity zone between $0.00000780 and $0.00000840, which previously acted as a launchpad for a 238% rally in November 2024, pushing PEPE to $0.00001839.

If history repeats itself, this zone could provide another strong support level, offering a potential long opportunity. This would be largely possible if price first sweeps liquidity, resting below the sell-side at $0.000006. A strong bounce from this liquidity zone could trigger another move toward the buy-side liquidity resting at $0.00002200, with further upside potential toward $0.00002800.

However, failure to hold above $0.00000600 could result in another leg down, targeting deeper liquidity pockets near $0.00000531 and potentially even lower. Price sweeps below the sell-side liquidity could confirm the reversal before going long. On the other hand, a sweep of buy-side liquidity near $0.00001785 could signal an ideal exit for profits.

Following this drop in price, a new wallet just acquired 249.975 billion PEPE, valued at $2.31M, at $0