PEPE's price fell about 14% on November 12, dropping toward $0.00000456 even as whale wallets withdrew a net $16.9 million worth of tokens from exchanges over the past week. This decline shows a disconnect between large holders moving tokens off exchanges and actual market demand, as recent data also reveal increased deposits back to exchanges and forced liquidations of leveraged long positions. Futures open interest fell 10% with negative funding rates, indicating bearish pressure and reduced leveraged bullish exposure. PEPE faces immediate support near $0.00000450, with potential downside to $0.00000420 if that breaks, while reclaiming $0.00000485 could signal recovery. The episode highlights risks in relying on whale withdrawals as a bullish signal amid volatile memecoin markets.
The story on PEPE's price drop provides context for readers following cryptocurrency markets. For readers following major cryptocurrencies on Pluang, here is the market snapshot as of Nov 12, 2026 18:32 WIB: out of 50 major cryptocurrencies, 11 rose and 38 fell today. Among notable movers, GRT declined 3.36% to Rp308 with 92% sell order activity, XTZ dropped 3.06% to Rp4,273 with 99% sell orders, while LINK fell 3.00% to Rp181,897 but saw 63% buy orders. This contrasts with PEPE's sharper 14% decline, highlighting varied market dynamics across assets.
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