Recently, the PEPE Token has performed poorly, with a significant price drop of 18% over the past week, drawing widespread attention in the market. According to analysis, this round of price decline is mainly due to the concentrated selling behavior of large holders, with data showing that a Whale sold approximately 2.2 trillion Tokens, accounting for 0.5% of the total circulating supply. One investor closed all positions on June 18, selling 600 billion PEPE in a single day, incurring an investment loss of about 3.5 million dollars. This massive withdrawal directly caused the rapid price decline.

From a technical perspective, the trend of PEPE coin is already quite pessimistic: the price has fallen below the 50-day and 200-day key moving averages, the MACD indicator has turned green, indicating that downward momentum continues to strengthen, while the RSI indicator has dropped to a level of 33, technically still having the potential for further decline.

It is worth noting that this is not an isolated phenomenon for PEPE. The current dominance of Bitcoin in the market has risen to 65%, indicating that funds are shifting from high-risk assets to relatively stable assets. The market has entered a risk-averse mode, leading to widespread pressure on the entire meme coin sector.

Despite the nearly 18% increase in PEPE's trading volume, this primarily reflects selling pressure rather than buying demand. Compared to the high of 73 in the market greed index in May, the index has now fallen to 40, suggesting that the "meme coin bubble" is gradually dissipating.

If PEPE cannot regain the key support level in the short term, the price may face further fall risks. For bullish investors, if they want to reverse the current situation, substantial positive news is needed.

In such a market environment, how should investors respond to this wave of adjustment? Should they continue to hold or choose to exit? Perhaps everyone's investment strategy is worth reconsidering.