- Whale Holds $17M in PEPE, Signals Long-Term Faith
- RSI Hits Oversold, Bounce Likely From Key Support
- Symmetrical Triangle Hints at 65% Breakout Move
PEPE is currently trading near the $0.00000633 support zone after a sharp 9.19% decline. The token shows early signs of recovery as technical patterns and whale activity suggest a potential trend reversal. Despite recent bearish movement, traders are observing the market closely for confirmation of a breakout. If support levels continue to hold, PEPE may be preparing for a strong upward move in the coming sessions.
Whale Transactions and Trader Behavior Signal Accumulation Phase
Blockchain data from CoinGape shows that a major holder sold PEPE tokens and used 720.6 WETH to buy 397,192 PENDLE tokens. This change in portfolio allocation indicates movement toward DeFi-related assets. However, the whale still holds 2.597 trillion PEPE tokens, valued at $17.53 million, with over $28 million in unrealized gains. This shows the investor still maintains exposure to PEPE.
Retail activity is playing a key role in price behavior. Around $2.78 million worth of PEPE has been sold on spot markets, but the pace remains slow. This points toward steady accumulation rather than panic selling. Such actions from retail participants can help absorb selling pressure and create a foundation for price stabilization.
PEPE is forming a symmetrical triangle pattern on the chart. This formation is usually seen during price consolidation and often signals upcoming movement. If the token breaks above the $0.00000681 resistance level, short-term targets could include $0.00000770 and $0.00000858.
Technical Indicators Suggest Breakout May Be Approaching
PEPE has entered an oversold condition based on its Relative Strength Index which shows 33.66 value. The market correction period draws investors to this area. A recovery from this zone has occurred in previous cycles, suggesting potential for renewed interest.
The MACD is still in the negative zone, though the lines are moving closer together. A crossover may support a bullish move. Meanwhile, the Chaikin Money Flow (CMF) holds a positive value of 0.4, which suggests continued buying strength.
If support near $0.00000600 remains firm and momentum builds, PEPE may rise toward $0.00001144, completing the symmetrical triangle breakout.
