PEPE Drops 8% as Whale Activity Signals Accumulation
Key Takeaways
The memecoin PEPE experienced a price drop of over 8% within 24 hours. At the same time, activity among large investors (“whales”) increased significantly. A long-dormant whale transferred PEPE tokens worth over 22 million USD from Binance to a new wallet. This movement suggests strategic accumulation. Despite the price decline, the technical structure remains largely intact. However, some on-chain data indicate increased risks of short-term volatility.
Whales Are Buying Again
A major PEPE investor, who had been inactive for over two years, recently withdrew 1.79 trillion PEPE tokens worth approximately 22.23 million USD from the crypto exchange Binance. This transaction was made to a new wallet and coincides with a sharp increase in large transaction volumes.
Transactions in the range of 100,000 to 1 million USD rose by 147.25%. Transactions between 1 and 10 million USD as well as between 10,000 and 100,000 USD increased by 100% and 91.72% respectively. These movements suggest targeted capital reallocations – a possible signal of an upcoming upward price phase.
Cautious Sentiment Despite Activity
Although whale activity is increasing, overall market sentiment remains cautious. The so-called “social dominance” – an indicator of how often the token is mentioned on social media – rose only slightly to 0.82%. That’s just above the previous low of 0.6%.
This indicates that the broader investor base is still holding back. While institutional investors are already becoming active, the retail market is waiting. Such phases are typical of transitional periods where new trends begin to form.
Rising NVT Ratio as a Warning Sign
The Network Value to Transactions (NVT) ratio currently stands at 59.27. A high NVT value can indicate that market capitalization is growing faster than actual network usage.
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This doesn’t necessarily indicate a trend reversal but does call for caution. If on-chain volume fails to keep pace with price growth, it could signal overheating. Traders should closely monitor whether network activity continues to develop.
Liquidations Could Trigger Volatility
At the time of analysis, the PEPE price stood at 0.00001233 USD – a 8.55% drop within a day. Liquidation data shows that long positions are heavily concentrated around 0.00001224 USD, while short positions dominate above 0.00001300 USD.
This setup creates potentially explosive zones. Particularly risky: many positions are leveraged with 25x to 50x. If a breakout occurs from the current price range, it could trigger chain reactions in liquidations. This significantly increases short-term volatility.
Technical Analysis: Structure Remains Intact
From a technical perspective, PEPE continues to hold support above the middle Bollinger Band at around 0.00001076 USD. The price was previously rejected at resistance near 0.00001554 USD, leading to the current correction.
The MACD (Moving Average Convergence Divergence) is approaching a neutral zone, indicating weakening downward momentum. As long as the 0.00001027 USD level is not breached, the overall upward trend remains intact. Traders might consider new long positions if the price rises above 0.00001300 USD.
Our Assessment
The current market situation surrounding PEPE is characterized by mixed signals. On one hand, whale activity and rising transaction volumes suggest a possible accumulation phase. On the other hand, the elevated NVT ratio and dense leverage distribution call for caution.
For you as a trader or investor, this means: closely watch the price zones around 0.00001224 and 0.00001300 USD. A breakout in either direction could lead to significant price movements. Long-term, PEPE remains interesting – but short-term, heightened volatility should be expected.
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