PEPE Whale Snaps Up 228B Tokens; 22% Rally in Sight
PEPE’s trading volume surged from $600 million to $7.6 billion in 24 hours, marking an 1,100% spike as the meme coin’s price jumped 15% to $0.00001282. On-chain data shows a major whale spent $2.68 million acquiring 227.8 billion PEPE, coinciding with $9.8 million of tokens exiting exchanges and signaling strong accumulation.
Technical analysis highlights a breakout from a medium-term pennant, a bullish MACD crossover, and a breach of the 200-day EMA, with PEPE printing three consecutive green daily candles. With 30% gains over the past week, traders eye a 22% upside toward $0.00001565.
Over-leveraged long positions totaling $2.61 million at $0.00001246 face fewer shorts at $1.65 million around $0.00001296, underlining bullish trader sentiment. Traders should watch for pullbacks near resistance levels while positioning for potential continued upside amid robust on-chain accumulation and momentum.
Bullish
A combination of on-chain whale accumulation, $9.8 million in exchange outflows, an 1,100% surge in trading volume, and technical breakouts (medium-term pennant, bullish MACD, 200-day EMA) indicates strong buying momentum for PEPE. Short-term, traders may see further gains toward the 22% target as bullish sentiment remains high. Long-term, sustained whale activity and robust accumulation support continued upward pressure, though pullbacks at key resistance should be monitored.