Retail Investors Boost PEPE Amid Cautious Optimism
Key Takeaways
- PEPE sees increased buying activity from retail investors – over 600 billion tokens purchased in 8 hours
- Whales remain cautious, but are not engaging in massive sell-offs
- Technical indicators suggest a possible short-term upward trend
- Liquidation zones could trigger a rally if certain price levels are breached
Strong Demand from Retail Investors
In recent days, interest in PEPE has noticeably increased – especially among retail investors. Five wallets purchased a total of 611 billion PEPE tokens within eight hours, worth approximately 4.28 million USD. As a result, the price rose slightly to 0.00000711 USD, a gain of 1.57% within 24 hours.
On-chain data shows that the number of active addresses increased by 0.47% over the past week. At the same time, the number of new addresses declined by 6.78%. This suggests that existing users are becoming more active again, while the growth of new users is stagnating.
Whales Remain Cautious
While retail investors are increasingly buying, the behaviour of large investors – also known as whales – remains subdued. Transactions in the range of 10,000 to 100,000 USD dropped by over 23%. This indicates that larger market participants are currently not building new positions.
Data from the past 30 days reinforces this picture: inflows into wallets with large holdings fell by 74.15%, while outflows decreased by 76.75%. This means that while whales are not buying heavily, they are also not selling aggressively.
Technical Analysis: Signs of a Breakout?
PEPE’s volatility has noticeably decreased. The 30-day volatility dropped from 146.37% to 115.24%. Such phases of lower fluctuations often precede stronger price movements.
From a chart perspective, PEPE has broken its downward trend and reclaimed the 0.00000700 USD level. The 9- and 21-day moving averages are converging – a possible signal of an upward trend reversal.
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Key levels to watch:
- Resistance: 0.00000737 USD – if broken, the next target is 0.00000884
- Support: 0.00000698 USD – as long as this holds, the bullish tendency remains intact
Derivatives Market: Potential for a Short Squeeze
In the futures market, open interest has fallen by 3.8% to 288.14 million USD. This indicates a cautious stance among traders and reduced use of leverage.
However, a look at Bitget’s liquidation data reveals an interesting zone: between 0.0000074 and 0.0000076 USD, there are many short positions that could be forcibly closed if the price rises. These so-called short liquidations could trigger a chain reaction – provided demand in the spot market remains stable.
Our Assessment
PEPE is currently showing early signs of a potential upward movement. Purchases by retail investors, the technical breakout above the downward trend, and decreasing volatility point to a positive development. At the same time, clear signals from large investors are still missing. The weak growth in new wallets is also slowing momentum.
A sustained breakout above the 0.0000076 USD mark – supported by trading volume – could trigger a rally. Until then, the outlook remains cautiously optimistic. Investors should monitor the mentioned price levels and whale activity closely. Newcomers should wait for additional confirmation signals.
Sources
- IntoTheBlock
- TradingView
- Bitget
- CoinGlass
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