A PEPE whale exited a 2.2 trillion token position, realizing a $3.5 million loss.
A bullish flag on the daily chart hints at a possible 102% price upside.
PEPE’s RSI near 37 signals weak momentum, nearing oversold territory.
Recent on-chain data shows a major PEPE whale exited a 2.2 trillion token position over the past ten days. According to Lookonchain, wallet address 0x6ea4… FE0 made the final deposit of 600 billion tokens to Binance on June 18, 2025.
The exit followed a gradual return of tokens that began on June 8. The whale had acquired the full position in mid-May at a total value of $27.64 million. By the time of exit, the return of tokens was valued at $24.1 million, representing a $3.5 million realized loss.
This full-scale offload signals reduced whale confidence and puts pressure on short-term PEPE prices. Market participants now monitor similar large wallets to see if more exits follow.
Bullish Flag Pattern Suggests Rally Potential
Despite bearish on-chain signals, the PEPE/USDT daily chart on Binance formed a bullish flag pattern on June 18. This pattern typically signals a continuation of a prior uptrend after a period of consolidation.
PEPE surged in early May, followed by a pullback within a downward-sloping channel. If the token breaks out above the upper trendline, it could resume its upward trend. The projected target sits near $0.00002051, which would be a 102% increase from the current price of $0.00001010.
The 50-day EMA at $0.00001137 stands as the first resistance level. If PEPE surpasses this, it could confirm bullish momentum. Trading volume remains high, at 5.1 trillion tokens, suggesting liquidity exists for a breakout.
RSI Indicator Shows Weak Momentum
The RSI indicator of the PEPE/USDT 1-day chart is 37.65. This reads the slackening of momentum and brings it close to the oversold areas, which commence at 30.
The signal line is recorded at 45.03 and is still above the RSI indicating bearish divergence. PEPE is largely oversold, and a fall to the RSI of 30 could see the coin turn around.
Generally, the indicators are both on-chain and technical ones, and they are divergent. The traders are monitoring either a breakout confirmation or a further weakness continuation.
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