Whale activity in PEPE markets has frequently shaped short-term price dynamics, with large holders alternating between accumulation and selling in ways that amplify volatility. Observers note that the top 100 non-exchange Ethereum addresses increased PEPE holdings by about 3.4% over the past 30 days, a pattern consistent with selective accumulation during dips, and several large wallet transactions exceeding 1.5 trillion PEPE occurred just prior to notable price drops. These accumulation phases have clustered around support zones near $0.000006–$0.0000075, areas historically identified as demand zones where long-term investors tend to stockpile before broader market moves. The pattern mirrors prior meme coin rallies in which concentrated buying by larger holders precedes liquidity injections that can drive rapid price appreciation, and therefore these behaviors warrant attention from traders and risk managers. Recent on-chain data also indicates whale accumulation has contributed to reduced exchange supply and lifted market confidence. Recent on-chain metrics also show increased selling by a subset of large holders that has added to short-term downward pressure.
Concurrently, significant selling pressure from whales has been recorded, creating offsetting forces that complicate short-term direction, as exemplified by dumps totaling roughly $25 million and exchange inflows that rose during periods of heightened volatility. One notable event involved a whale withdrawing 657.8 billion PEPE, worth approximately $4.4 million, from exchanges amid turbulent trading, a move that can reflect strategic repositioning rather than panic but also reduces available liquidity. The interplay of withdrawals and exchange deposits has contributed to episodes where price fell about 4.6% within 24 hours while daily trading volume exceeded $590 million, indicating that whale execution can materially influence intraday volatility and market depth.
Market metrics corroborate elevated speculative engagement, with trading volumes surging in some cases and open interest in PEPE futures approaching $600–$645 million, signals that leveraged positions and derivative activity are amplifying price sensitivity. Technical levels have responded to these flows, with resistance forming near $0.00000968 after recent accumulation-driven rallies and consolidation occurring near that resistance as whales alternate between buying and selling. Market participants should therefore monitor whale transfers on and off exchanges, order book depth on major centralized venues, and position metrics, since these factors will likely determine whether PEPE can surmount resistance or encounter renewed selling pressure.
