Heavy Selling Pushes PEPE Down 3%, Overpowering Bounce Attempts Even Amid Whale Accumulation

PEPE Slides 3% as Heavy Selling Dominates, Though Whales Keep Buying

PEPE declined nearly 3% over the past 24 hours amid heavy selling pressure and elevated trading volumes, signaling persistent uncertainty and profit-taking in the crypto market.

According to CoinDesk Research’s technical analysis, PEPE saw volatility spike to 7.74%, with prices reaching a high of $0.00001268 before dropping to a session low of about $0.00001169 early in the trading day. While the token attempted a brief rebound, it stalled quickly and is now hovering near resistance at $0.00001206.

Trading activity surged, with over 3.47 trillion tokens changing hands in a day, highlighting significant liquidations or fast repositioning by traders. The broader market was also under pressure, as the CoinDesk 20 (CD20) index fell 2.95%, and the CoinDesk Memecoin Index (CDMEME) dropped 3.9% during the same period.

Despite the drop, whale accumulation remains strong. Data from Nansen reveals that PEPE whales on Ethereum have boosted their holdings by 1.4% over the past week, now controlling 305.26 trillion PEPE. Meanwhile, balances held on exchanges declined 1.14% to 251.2 trillion PEPE, suggesting some long-term holders are moving tokens off trading platforms.

Technical Highlights

Price Action: PEPE fell 3%, struggling under strong selling pressure.
Volatility: Intraday swings hit nearly 8%, ranging from lows of $0.00000980 to highs of $0.00001268.
Resistance Levels: Sellers emerged at $0.00001267, halting upward momentum.
Short-Lived Recovery: A minor bounce lifted prices from $0.00001210 to $0.00001217, but gains were quickly erased.
Current Position: PEPE is consolidating near $0.00001206, acting as a new resistance zone.
Volume Surge: Over 3.47 trillion tokens traded in 24 hours underscores heightened market activity.

PEPE’s path forward hinges on its ability to break through resistance and sustain gains against persistent selling. Until then, the token remains locked in a consolidation phase with a bearish tilt.