Whales Load PEPE Amid Accumulation Triangle Consolidation
PEPE surged 10% over 24 hours as whale wallets increased their holdings. The memecoin now trades at $0.00001157 inside a symmetrical triangle formed since May, signalling ongoing consolidation. Top 100 PEPE addresses boosted their balances by 1.5% this month, while a key whale withdrew $2 million in PEPE from Binance and now holds 1.31 trillion tokens at an average cost of $0.00001683, reflecting a $7.25 million paper loss. Spot trading drove the recent pump, with Futures Taker CVD remaining neutral over three months. Volume is insufficient for a decisive breakout; a move above $0.00001366 could trigger a bullish rally, but higher derivatives participation is needed to sustain gains.
Bullish
Whale accumulation and a 1.5% increase by top PEPE addresses often precede bullish breakouts, mirroring past memecoin rallies like DOGE and SHIB. The 10% price surge and renewed on-chain demand signal growing interest. However, PEPE remains within an accumulation triangle, indicating short-term consolidation. A breakout above $0.00001366 would confirm bullish momentum, while neutral derivatives metrics suggest traders await clearer signals. In the long term, sustained whale support and increased derivatives participation could drive PEPE to new highs, supporting a bullish outlook.