Despite a 6% Slide, PEPE Sees Whale Accumulation and Technical Hints of a Potential Upswing Amid Market Volatility

While PEPE’s price has dropped lately, large-scale investors, known as “whales,” have been quietly boosting their holdings, increasing their positions by over 5% in the past month—a sign that confidence in the memecoin persists despite market volatility.

The frog-themed cryptocurrency PEPE (PEP) fell nearly 6% in the last 24 hours as traders grew anxious amid geopolitical uncertainties, particularly surrounding the approaching deadline for Trump’s reciprocal tariffs. This has contributed to heightened caution across the crypto markets.

Over the past day, PEPE’s price fluctuated significantly within a 16.5% trading range, underscoring its vulnerability to sharp swings, especially with lower liquidity making it easier for large transactions to sway prices.

Nonetheless, data reveals whales are still accumulating. Analytics firm Nansen reports that big wallets have expanded their PEPE holdings by more than 5% in the last month, amassing roughly $3 billion worth of tokens—a stake exceeding 70% of PEPE’s circulating supply.

Meanwhile, the amount of PEPE held on centralized exchanges has declined to a two-year low of around 247.2 trillion tokens, down nearly 3% since early July, suggesting that fewer tokens are available for quick sale, which could support prices longer-term.

Technical Analysis Summary

PEPE has repeatedly failed to surpass resistance near $0.0000106, as sellers consistently cap price rallies at that level.

On the lower end, the token has established support around $0.00000965, which has so far kept prices from falling further. Analysis from CoinDesk Research indicates that PEPE continues to trade in a volatile range.

Current charts reveal PEPE moving within a downward channel, with sellers stepping in whenever prices attempt to climb. Trading volume patterns suggest that traders are seizing price spikes as opportunities to sell rather than building new long positions.

Despite the prevailing cautious mood, there are still glimpses of optimism. A recent surge in trading activity helped PEPE rebound slightly from recent lows, hinting that some traders believe a recovery is possible if broader market conditions improve.