Pepe’s retail-led accumulation has surged, but whale activity and network growth remain subdued. The memecoin witnessed a major accumulation event after five wallets collectively purchased 611 billion tokens worth $4.28 million within eight hours. At the moment, Pepe is trading at $0.00000711, showing a 1.57% increase in the last 24 hours. The concentrated buying has sparked speculation about Pepe’s next move, prompting a closer look at both on-chain and technical signals to gauge breakout chances.
On-chain activity indicates that retail interest is slowly returning, with a modest increase in active addresses by 0.47% over the past week. However, new addresses dropped by 6.78%, suggesting limited user growth. There was a 67.4% increase in transactions valued under $1, indicating smaller traders are accumulating. On the other hand, higher transaction tiers like the $10k–$100k range declined by more than 23%, signaling that whale participation has not significantly rebounded.
Volatility levels for Pepe have begun to settle, with a decrease in the 30-day volatility from 146.37% to 115.24%. This shift from high uncertainty to more stable price action often precedes strong directional moves as market tension builds during consolidation phases. From a technical perspective, Pepe broke above its recent descending channel and reclaimed the $0.00000700 level. The convergence of the 9-day and 21-day moving averages suggests a potential bullish trend change.
Immediate resistance for Pepe is at $0.00000737, with $0.00000884 as the next level. Key support remains at $0.00000698 to maintain the bullish tilt. Whale activity shows a mixed picture, with reduced accumulation among major players over the past 30 days. However, outflows have also declined, indicating that whales are not exiting aggressively. Looking at the 90-day trend, inflows have slightly decreased while outflows have increased, suggesting mild profit-taking but not full distribution.
In the derivatives market, open interest for Pepe declined by 3.8% to $288.14 million, reflecting cautious sentiment and reduced leverage. Liquidation heatmap data from Bitget reveals dense short liquidation zones between $0.0000074 and $0.0000076. If bulls can push the price above this zone, forced buybacks could trigger a cascading rally, potentially catalyzing the next upward move provided spot demand remains strong.
Pepe’s recent accumulation, technical breakout, and lowered volatility offer early signs of strength. However, whale inactivity and shrinking new address growth indicate that broader conviction may be lacking. If bulls can break above $0.0000076 with volume support, a rally could follow. Currently, Pepe’s outlook is cautiously bullish but awaits stronger confirmation from large players.
