A month ago, the PEPE price dropped to $0.000007, triggering significant accumulation in the market, leading to a 36% price rebound and reaching a four-month high. Although the price has retreated recently, it remains about 57% of its peak, allowing most holders to stay profitable. However, 87% of the PEPE supply is concentrated in 1% of addresses, indicating that whales hold a substantial amount of unrealized profits, posing potential risks to the market.
Currently, the PEPE price is at a critical support level of $0.000010, with a weak structure. If it falls below this level, profitable whales may start to sell off to lock in gains, rather than out of panic. Previously, $0.000010 had triggered strong buying on dips twice, but the current rebound momentum is insufficient. If the price breaks below this level, it will form a fourth lower low, potentially triggering further profit-taking by whales.
Whale activity issues a warning
According to SpotOnChain data, a whale recently deposited 595.2 billion PEPE (worth $6.52 million) into Binance, realizing a profit of $1.57 million (+32%).
Its holding cost is $0.00000832, indicating that short-term whales may choose to exit when price momentum weakens. This is not a random sell-off, but a well-thought-out strategy, coinciding with the difficulty in breaking through the peak of the price-earnings ratio.
More importantly, this whale still has 104.4 billion PEPE (worth $1.15 million) open, holding $320,000 in unrealized profits. This puts further pressure on the $0.000010 support level.
The next few trading days are crucial. If the $0.000010 support level is lost, it may trigger more whale rotation sell-offs to lock in profits rather than out of panic. Investors need to closely monitor the charts and carefully judge whether to continue holding or exit.
