Pepe (PEPE) Price Plummets 5% as Hyperliquid Trader James Wynn Cashes Out $25.18M Profit

The PEPE price plummeted 5% in the last 24 hours to trade at $0.00001392 as of 8:33 p.m. EST on a 60% plunge in daily trading volume to $1.2 billion.

The price of Pepe (PEPE) dropped 5% in the last 24 hours to trade at $0.00001392 by 8:33 p.m. EST on Thursday, amid a 61% plunge in daily trading volume to $1.2 billion.

The PEPE price plummet came as Hyperliquid trader James Wynn cashed out a fat $25.18 million profit from his PEPE positions to go all-in on Bitcoin (BTC).

The move likely triggered some FUD (fear, uncertainty, doubt) in the market that contributed to the PEPE price drop.

Wynn’s profit from PEPE trading exceeds $57 million. He had been running huge positions on the token, which drew attention from the crypto community.

James Wynn just fully closed his $1.2B $BTC long on Hyperliquid

Dude went from +$20M to -$20M to +$40M to finally -$10M

Biggest DEX position in crypto history. 8-figure roundtrip. And we were all there to watch it 🍿

Degeneracy for the history books pic.twitter.com/LbUeH8dGm1

— フ ォ リ ス (@follis_) May 24, 2025

The trader later opened an 11,588 BTC position at an average entry of $108,243 with a liquidation price of $105,180, doubling his positions to $1.2 billion.

He closed all his BTC positions on Thursday, after going from +$20 million to -$20 million to +$40 million and finally closing the trade with a $10 million loss.

Pepe Price Flashes Double Top Bearish Reversal Pattern

The 1-day PEPE/USDT chart shows the meme coin price peaking around $0.000028362 before going on a downtrend, slipping below key moving averages and testing support levels, forming a bottom at $0.000005257.

PEPE’s currently sitting at $0.00001392, down 5% on the day. The 50-day ($0.000009837) and 200-day ($0.00001318) simple moving averages (SMA) are trending below the price, which is a good vibe for the bulls.

The PEPE price has just entered a potential consolidation zone between $0.000012444 (support) and $0.000015406 (resistance). If PEPE can’t hold that $0.000012444 level, it may end up completing a double top bearish reversal pattern that could send it sliding further down to $0.000009311 (0.786 Fibonacci retracement level), which marks a 31.56% drop from here.

PEPEUSDT Analysis  Source: Tradingview

The relative strength index (RSI) at 57.96 is showing neutral momentum, so there’s no crazy oversold or overbought signal yet. The moving average convergence divergence (MACD) indicator, however, is bearish, hinting that more downward pressure is imminent unless buyers step in.

If PEPE can break above the $0.000015406 resistance and flip it into support, we might see a bounce toward $0.00002019, a 31.51% pump from here, or even $0.00002169 if the bulls go full degen mode.

In the short term, PEPE’s looking a bit shaky with Wynn's exit and the bearish MACD indicator hinting at more potential downside. However, if Bitcoin pumps and drags the market up, we might see PEPE catch a wave.

For now, investors should keep an eye on that $0.000012444 support level. If it breaks, it’s time to start unloading some bags. But if it holds, we might just see a return to the $0.000015406 resistance level.

MIND Of Pepe Amasses $10.3 Million In Presale – Only 6 Days Left

As the Pepe price signals bearish intervention, investors are snapping up a new PEPE rival.

With its presale surpassing $10.3 million and just 6 days left before it hits exchanges, this AI-driven meme coin is sparking serious FOMO buying.

Introducing MIND, a crypto project that's blending the viral charm of Pepe the Frog with a