Whales Drive PEPE Up 14% as Bitcoin Climbs Above $118K in Sweeping Crypto Gains

PEPE Rallies 14% as Whales Accumulate, Bitcoin Pushes Past $118K

PEPE surged 14% over the past day, lifted by a wave of whale accumulation and broader enthusiasm across crypto markets, with Bitcoin crossing above $118,000.

The meme token climbed from $0.000011141 to a peak of $0.000012812 as traders flocked back into speculative assets. The CoinDesk 20 Index (CD20) rose 7.3%, while the CoinDesk Memecoin Index (CDMEME) jumped 11.3% over the same period.

On-chain analytics firm Nansen reported significant buying among large holders. The top 100 wallets boosted their PEPE holdings by 1% in the last 24 hours, totaling 304.1 trillion tokens. Meanwhile, exchange balances fell, signaling accumulation and reduced immediate selling pressure.

Looking at the bigger picture, the top 100 addresses have increased their PEPE positions by 2.3% over the past month, while the supply held on exchanges has dropped 2.17%, now standing at 252.2 trillion tokens.

Technically, PEPE demonstrated strong momentum, swinging in an 18% intraday range between $0.000009823 and $0.000013068. Resistance emerged at $0.000012482, where the token faced a high-volume rejection. However, solid support formed near $0.000011013, with buyers stepping in on dips.

With supply shrinking and whales continuing to accumulate, analysts suggest PEPE could have further room to run—particularly if Bitcoin sustains its rally above new highs.