Whale Accumulation Suspected as PEPE Holds Support and Volume Jumps

Whale Activity Drives Volume Spike as PEPE Holds Key Support
October 28, 2025

PEPE held its ground above a crucial support level on Tuesday as trading activity spiked sharply, signaling active participation from large investors.

The meme coin gained 0.67% over the past 24 hours, trading between $0.000007205 and $0.000007265, according to CoinDesk Research. While price action remained relatively stable, trading volume soared 72% above the daily average to 2.70 trillion tokens, often a telltale sign of strategic positioning by whales rather than retail-driven volatility.

Most of the volume emerged during resistance tests near $0.000007249, hinting that major holders were either distributing or accumulating around that zone. Data from Nansen indicated that the top 100 non-exchange wallets on Ethereum increased their holdings by 1% to 306.7 trillion tokens, while balances on exchanges dropped 0.95% to 232.59 trillion, suggesting tokens are moving into long-term storage.

PEPE later bounced slightly to close around $0.000007152, forming a series of higher lows—a potential signal that the token is consolidating within its support range of $0.000007090–$0.000007140. Resistance sits between $0.000007260–$0.000007270; a breakout could fuel a short-term rally, while a breakdown below support might trigger a pullback.

Across the broader market, the CoinDesk 20 Index slipped 0.2%, while the CoinDesk Memecoin Index advanced 1.6%, underscoring that meme tokens continue to show relative strength amid subdued overall crypto momentum.