PEPE’s explosive rally may be losing steam, as crypto billionaire Arthur Hayes has reportedly offloaded his holdings — casting a bearish shadow over the current PEPE price prediction.
The meme coin has now fallen 32% since its mid-July peak, and with long-term holders starting to hedge, this downturn is beginning to look more like a deeper shift than a routine pullback.
Adding pressure to the mix, the macro outlook continues to deteriorate.
The US Federal Reserve held rates steady in July while signaling caution over new tariffs, and disappointing jobs data has further weakened sentiment.
Now, with the “reciprocal” tariff pause officially over and higher duties on 92 countries set to kick in on August 7, traders see little chance of a September rate cut — a shift that continues to drain appetite for riskier assets like meme coins.
Blockchain analytics platform Lookonchain initially reported that Hayes sold an estimated $13 million in crypto assets on August 2, including $414,000 in PEPE.
Explaining his rationale in response to Lookonchain, Hayes cited the deteriorating U.S. macro backdrop, pointing to the effects of tariffs now surfacing in Q3 jobs data.
With inflation fears discouraging interest rate cuts globally, he argues that no major economy is expanding credit fast enough to drive nominal GDP growth.
Hayes expects a potential market repricing, setting the stage for capital to rotate out of volatile assets like cryptocurrencies.
However, it seems Hayes may be alone in his exit. Whales appear to be taking the Pepe price decline as a buy the dip opportunity according to Nanasen data.
The top 100 wallets continue to accumulate, increasing their holdings by a slowed, but steady 0.31% over the past week to near a total $306 trillion PEPE tokens.
While there is merit to the argument that the macro narrative will cast a shadow over the mid-term pepe price outlook, the recent correction appears to have found a bottom.
With the breakdown momentum of a head and shoulders pattern forming from the mid-July market top now realised, a 2-month symmetrical triangle is back in focus.
The RSI briefly bounced from oversold levels but quickly turned back down, showing a lack of strong follow-through from bulls.
The MACD line has also flattened just above the signal line — an early sign of potential upside, but without the conviction needed to kick off a sustained uptrend.
This leaves the door open for another retest of the $0.00001 level. If that level holds, it could act as a springboard for a stronger second bounce, potentially forming a double bottom reversal pattern.
But if $0.00001 breaks, the bullish scenario is likely invalidated. A breakdown would target lower support around $0.000008, signaling the end of the current bull run.
As “reciprocal” tariffs return, the markets are fearing a repeat of the mid-2025 bear market — holders might be playing the waiting game again.
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