PEPE’s price drops nearly 5% amid heavy whale selling and a sudden surge in trading volume. While bearish pressure dominates the market, some major holders are taking advantage of the dip to accumulate, fueling debate about the memecoin’s near-term future.
The memecoin PEPE has once again captured the crypto market’s attention after registering a 5% decline in recent hours, a correction triggered by massive whale sell-offs and growing market turbulence across digital assets. According to CoinDesk data, the token’s price fell from $0.000012023 to $0.00001119, while trading volume surged past 6.9 trillion tokens in just one hour.
This seemingly modest drop reflects a context of high volatility and investor unease, as large wallets move enormous quantities of tokens. Reports from CoinAlertNews and Finance Yahoo indicate that more than 7.7 trillion PEPE tokens, worth approximately $86.9 million, changed hands during the episode. However, despite the selling pressure, on-chain data reveals a quiet accumulation trend among certain whales, whose holdings have reportedly increased by around 3.2%, while the amount of PEPE held on exchanges fell by about 2.5%.
This dynamic reveals an interesting paradox: while some large holders are reducing exposure, others are buying the dip, betting on a potential rebound. The CoinDesk Memecoin Index (CDMEME) dropped 6%, outpacing the broader crypto index (CD20), highlighting that speculative assets are the hardest hit in times of uncertainty.
From a technical perspective, PEPE’s chart still shows a short-term bearish structure, with lower highs and a critical support zone around $0.000011525. If the price fails to hold this level, analysts warn that another wave of liquidations could follow. However, if whale accumulation persists and selling volume eases, the token could find a temporary floor and stage a short-term rebound.
The impact of this event extends beyond PEPE’s price. First, it underscores the outsized influence whales exert on memecoin behavior, a market segment heavily driven by social sentiment and coordinated moves. Second, it highlights the systemic risk of excessive speculation in the crypto ecosystem, where small shifts in confidence can trigger sharp volatility. Finally, it serves as a reminder to investors that in a market ruled by memes and viral narratives, risk management is just as crucial as conviction.
As the noise settles, PEPE’s future will depend on whether it can sustain retail interest and, more importantly, whether the whales accumulating now are genuinely betting on a new bullish cycle or merely setting up their next play. Either way, this episode confirms that the story of memecoins remains unpredictable, and PEPE continues to be one of its most volatile protagonists.
