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PEPE Surges 14% as Whale Activity Soars

Key Takeaways

• PEPE, a memecoin, surged by 14% within a single day.
• Large investors (“whales”) increased their activity by up to 200%.
• Trading volume rose by 11% while the price defended a key support level.
• Technical analysis indicates bullish tendencies with a potential rise to $0.000021.

Strong Price Movement for PEPE

On May 23, the memecoin PEPE recorded a 14% price increase, making it one of the top five gainers in the crypto market that day. The total market capitalization rose by 4.53% to 3.5 trillion USD, which also gave a boost to other altcoins. PEPE particularly benefited from this trend.

Whales Increasing Their Exposure to PEPE

According to data from IntoTheBlock, the number of large transactions rose significantly. Transactions in the range of 1 to 10 million USD increased by 200%. Transactions between 100,000 and 1 million USD also rose by 119.25%. These volumes suggest activity from institutional investors or so-called whales.

Such an increase signals growing confidence in the coin. When major market players invest capital into a coin, it may indicate a long-term strategy—or short-term speculation.

Traders Showing High Risk Appetite

Data from CoinGlass shows that traders are using high leverage when trading PEPE. Around the price levels of $0.00001399 (support) and $0.00001611 (resistance), long positions worth $15.94 million were opened. At the same time, short positions worth $3.28 million were initiated.

These figures indicate high expectations—but also increased risk. If the price moves against these leveraged positions, it could lead to massive liquidations.

Technical Analysis: PEPE Holds Above Support

At the time of analysis, PEPE was trading at around $0.00001555. The $0.00001485 level held as support and became the short-term base. Trading volume increased by 11%, reinforcing the strength of the upward trend.

According to technical analysis, PEPE has broken through a key resistance. If the price remains above $0.0000145, a further increase of up to 35% is possible. The next target is around $0.000021.

Our Assessment

The recent price increase in PEPE is closely tied to overall market growth and heightened activity from institutional investors. The increased whale activity and rising trading volume suggest a short-term bullish scenario.

However, caution is advised: the high leverage used by many traders could lead to rapid losses in the event of a price drop. PEPE remains a speculative coin without fundamental backing. If you choose to invest, do so only with amounts you can afford to lose.

The coming days will show whether PEPE can maintain its momentum or if this is just a short-term case of FOMO (Fear of Missing Out).

Sources

• IntoTheBlock
• CoinGlass
• TradingView