After two years of silence, a long-inactive whale wallet has resurfaced with a bang—accumulating a staggering 1.79 trillion PEPE tokens, valued at over $22.23 million, through a series of large transactions from Binance. Data from blockchain analytics platform LookonChain shows that the whale used a newly created Ethereum wallet to carry out three major token withdrawals from Binance hot wallets.
Transaction Details:
1.1 trillion PEPE tokens in a single massive transfer
633 billion tokens in a second transaction
9.8 million tokens in a final, smaller move
Additionally, 3 ETH (≈$7,460) was deposited to cover gas fees and possible trading activity
Historical activity reveals this whale previously interacted with DeFi platforms like Uniswap, MetaMask, and 0x Exchange, and managed assets such as PEOPLE, ETH, UNI, and USDT before going dormant.
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Market Reaction & Technical Outlook:
Following the wallet’s reactivation, PEPE’s price dropped nearly 10%, falling from an intraday high of $0.00001365 to a low of $0.00001227. While this suggests short-term selling pressure, analysts believe the whale's aggressive accumulation may be a precursor to bullish momentum and a potential trend reversal.
Since December 2024, PEPE has been trading within a tight range between $0.0000052 and $0.000028. It recently hit strong resistance at $0.000015047, facing double rejection on May 12 and 13. This price action has shifted the short-term trend bearish.
The RSI on TradingView has dipped below the neutral 50 mark, reinforcing bearish sentiment. Analysts see the rejections as a reaction to a prior bullish imbalance, potentially signaling an ongoing corrective phase.
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What’s Next? Key Scenarios to Watch:
A move down toward $0.000006646 support is likely if current pressure persists
If that level holds, a bounce could trigger a retest of the $0.000015047 resistance
A confirmed breakout above that resistance could fuel a rally toward $0.000038798—an 85% surge, echoing gains from May 2024
Despite the volatility, growing investor interest—fueled by whale activity and historical price behavior—could set the stage for a significant PEPE recovery.
Traders should monitor support/resistance zones and key indicators like RSI to navigate the evolving landscape.
