Despite Whales Accumulating, PEPE Declines 3% Under Relentless Selling Pressure

PEPE Slides 3% Amid Heavy Selling, Yet Whales Keep Accumulating

PEPE declined by nearly 3% in the past 24 hours as traders offloaded tokens in significant volumes, signaling renewed caution and profit-taking across the crypto market.

CoinDesk Research’s technical analysis indicates PEPE saw volatility spike to 7.74%, with prices initially climbing to $0.00001268 before dropping sharply to lows around $0.00001169. Although there was a brief attempt at recovery, the rebound quickly lost steam, leaving the token struggling below resistance near $0.00001206.

Trading volumes soared past 3.47 trillion tokens, underscoring intense market activity and possible liquidations or fast repositioning. The broader market was also under pressure, with the CoinDesk 20 (CD20) index falling 2.95% and the Memecoin Index (CDMEME) retreating 3.9% during the same period.

Despite the price drop, whale accumulation remains firm. Data from Nansen shows that PEPE whales on Ethereum boosted their holdings by 1.4% over the past week, bringing their total balance to 305.26 trillion PEPE. Meanwhile, exchange reserves declined 1.14% to 251.2 trillion tokens, suggesting some investors are moving tokens off exchanges for longer-term storage.

Technical Highlights

• Price Movement: PEPE lost 3%, weighed down by persistent selling.
• Volatility: Intraday swings reached nearly 8%, between lows of $0.00000980 and highs of $0.00001268.
• Resistance Zone: Selling pressure solidified at $0.00001267, capping price advances.
• Short-Lived Bounce: The token briefly rebounded from $0.00001210 to $0.00001217, but momentum faded quickly.
• Current Range: PEPE is consolidating near $0.00001206, which now acts as resistance.
• Trading Activity: Over 3.47 trillion tokens changed hands, indicating significant market churn.

For now, PEPE remains locked in a consolidation phase, and a clear break above resistance is needed to shift the market outlook toward a more bullish trajectory.