PEPE Price Erases Zero Amid 2,530,000,000,000 Token Shift

Frog-themed cryptocurrency $PEPE has dropped a zero from its valuation as cryptocurrencies stabilize following a significant sell-off in the previous week. At press time, $PEPE was changing hands at $0.0000106, up 1.54% in the last 24 hours.

$PEPE dropped six days in a row from a high of $0.00001315 on July 28 to a low of $0.00000986, adding a zero to its price valuation. The drop, which broadly began from a high of $0.00001475 on July 22, pushed the $PEPE price near oversold levels before bulls finally stepped in.

$PEPE rebounded in Sunday's session, surpassing the daily SMA 200 at $0.00001028 and reaching an intraday high of $0.0000107 in early Monday.

$PEPE's rebound coincides with significant whale activity, with 2,530,000,000,000 $PEPE recorded in large transaction volume over the last 24 hours, according to on-chain data.

2,530,000,000,000 $PEPE shifted in large transactions

Large transactions are those in which an amount larger than $100,000 is transferred. The Large Transactions Volume indicator shows the total amount of cryptocurrency transferred in such transactions.

In the case of $PEPE, 2,530,000,000,000 (2.53 trillion $PEPE) were transferred in large transactions over the last 24 hours, according to IntoTheBlock. This amounts to $26.46 million in monetary terms.

As $PEPE erases a zero from its price valuation, it now confronts resistance next in the range of $0.000011 to $0.000013, according to on-chain data. This is where a massive 82.68 trillion SHIB were bought by 58,610 addresses at an average cost basis of $0.000012.

Major support lies in the range of $0.00008 to $0.000010, where 47.35 trillion $PEPE are being held by 58,070 addresses at an average cost basis of $0.00009, according to IntoTheBlock data. $PEPE currently hangs on a thread, with any slight drop forcing it to add an extra zero to its price valuation.