- Whale activity around PEPE suggests early signs of strategic profit-taking, as the token hovers near a critical support level at $0.000010.
- A breakdown below this level could trigger further exits from large holders, potentially accelerating downward pressure.
The memecoin PEPE is showing signs of strain, hovering near a key support level at $0.000010 — a threshold that may soon decide the asset’s short-term fate. Recent whale activity, notably a $6.52 million offload by a prominent holder, suggests that major players could be preparing to exit, even as most remain deep in profit.
According to blockchain data tracked by SpotOnChain, one whale deposited 595.2 billion PEPE to Binance, securing a 32% gain after entering at a cost basis of $0.00000832. While this doesn’t necessarily mark a wholesale exit — the wallet still retains 104.4 billion tokens worth roughly $1.15 million — the timing is noteworthy. The move coincided with PEPE’s ongoing struggle to break above local highs after a 36% rally sparked by last month’s drop to $0.000007.
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The broader context is significant. Currently, 87% of PEPE’s supply is concentrated in the hands of the top 1% of addresses. This concentration means any shift in whale sentiment can have a disproportionate impact on market dynamics. With PEPE still 57% below its recent four-month peak, profit-taking isn’t being driven by fear — it’s a strategic play aimed at preserving gains before momentum potentially fades.
So far, the $0.000010 level has acted as a magnet for dip-buyers, sparking recoveries on two separate occasions. But this time, the bounce has lacked conviction. A confirmed breakdown here would mark the fourth lower low on the chart — a technical signal that could prompt a broader rotation from whales looking to capitalize on prior accumulation.
While the selling isn’t yet widespread, early signs point to a cautious shift. The next few trading sessions will be crucial in determining whether smart money will hold firm or continue to reduce exposure. With PEPE now walking a tightrope between support and a potential cascade, chart watchers and investors alike are being urged to stay alert.
For now, the memecoin market watches in suspense: will the whales anchor support — or quietly swim away?