Pepe has once again captured the market's attention, but this time not due to viral hype, but due to a sharp increase in whale activity. Recent blockchain data from IntoTheBlock indicates a 257% increase in large transactions, which has sparked heightened interest across the crypto sector.
This activity is occurring against the backdrop of a general corrective movement in the market. At the time of writing, PEPE is trading at $0.00001342, which is about 4% lower than the 24-hour level. Bitcoin has dropped below $102,000 — a key support level, putting pressure on altcoins, especially more speculative tokens like meme coins. While the price drop of PEPE may seem ordinary, the rise in whale transactions indicates potentially more serious changes in internal processes.
What does the increase in whale activity mean?
The latest data from IntoTheBlock shows a sharp increase in whale transactions with Pepe Coin. Trading volumes in the range of $1 million to $10 million surged by an impressive 750%, while operations from $100,000 to $1 million increased by approximately 178%. Even average movements from $10,000 to $100,000 rose by almost 174%. Such a scale of movements often reflects targeted actions by institutions or well-capitalized players changing positions in anticipation of future shifts.
Some analysts interpret this activity as a bullish signal — a sign of growing confidence in the growth potential of PEPE. In particular, one whale recently exited a position in TRUMP Coin and opened a 10x long position on PEPE, which currently has an unrealized profit of $81,000, reports on-chain tracker Lookonchain.
At the same time, others warn that such spikes, especially after significant rallies, can be a warning signal. Historically, similar whale activity in May, November, and December 2024 preceded local price peaks. If the number of whale transactions exceeds the 800 transaction mark, it often precedes sell-offs and corrections. This does not guarantee a repeat of the scenario, but it is a pattern worth monitoring.
Key levels of resistance and support
From a technical analysis perspective, PEPE is facing several immediate obstacles. After a brief attempt to break the psychological resistance at $0.000015, the price was unable to hold and fell back to $0.00001342, representing about a 4% drop over 24 hours. However, over the past week, the coin has still risen by 46%, which is a positive signal.
To confirm a bearish reversal for PEPE, it needs to break the support level at $0.00001274. A close of a 4-hour candle below this mark could lead to a drop to $0.00001063, which corresponds to the target of a double top pattern. Such a move would mean a 25% decrease from recent highs.
On the other hand, a sustained breakout above $0.0000155 would invalidate this bearish scenario. In this case, the next resistance level would be $0.00002140 — a potential increase of 38%. Fibonacci analysis also supports this view: the 23.60% retracement level coincides with the area of $0.000015. If the bulls regain control, the path opens up to $0.00001792.