PEPE briefly fell after a major holder moved 500 billion tokens to Binance — a transfer valued at roughly $4.8 million — but the memecoin recovered sharply from session lows as buyers stepped in at key supports.
The transfer came amid a roughly 40-day downtrend that had cost the trader an estimated $450,000. Moves to exchange wallets often precede sales, which added near-term selling pressure. Still, market data showed PEPE trading at $0.00000992 after bouncing from earlier lows near $0.00000938, with price action swinging within a roughly 6% intraday range and later pushing toward resistance near $0.00000983.
On-chain records indicate the whale still holds about 1.5 trillion PEPE (more than $14 million at current prices). Trading activity was heavy: some 3.26 trillion PEPE changed hands during the session, with CoinDesk Research flagging the strongest volumes during the recovery phase — a signal that buyers were aggressively accumulating after the dip.
Short-term technical dynamics point to a mixed picture. The rebound shows confident or opportunistic accumulation at support levels, but resistance just below $0.00001 remains firm and bears are still testing the market. Nansen analytics also found that Ethereum-based PEPE whales increased holdings by about 1.46% over the last 30 days, supporting the view of measured accumulation among large holders.
Relative to the memecoin cohort, PEPE has held up better: the CoinDesk Memecoin Index (CDMEME) fell nearly 3% over 24 hours while PEPE’s decline was closer to 1%.
What this means for traders: whale transfers to exchanges can precede larger sell-offs, even when on-chain buying follows. PEPE’s bounce highlights liquidity and demand at lower price bands, but markets remain volatile — traders should account for rapid swings and the possibility of follow-through selling.
Source: CoinDesk. Read the original coverage for full details.