PEPE Crypto Addresses Hit New ATH At 360,900, Whale Activity Spikes

PEPE crypto could be on the verge of a short term recovery and its longer term outlook also appears promising.

This is mostly courtesy of positive address growth and demand from whales indicating renewed interest.

PEPE price action achieved an overall bearish performance in the last 7 days.

It tanked by roughly 23% from its weekly high, but this outcome also yielded a retest of the memecoin’s short term support level observed in December.

Moreover, PEPE price action in the last 2 days demonstrated a resurgence of demand, allowing a brief bounce from the aforementioned support level. Its $0.00001793 press time price tag was already up by roughly 7% on Friday and Saturday.

PEPE price action / source: TradingView

Historical data shows that PEPE found support near the $0.00001696 price level. The last time that price bounced off that same price level in December, PEPE achieved a 31% rally.

– Advertisement –

Can PEPE Crypto Pull Off Another Sizable Swing High?

Strong demand made the rally possible but could a similar performance be on the cards this time? Whale activity may have played a role in the slight recovery observed in the last 2 days.

This spike occurred between 7 January and 9 January, during which large holder net flows jumped from -242.39 billion PEPE to 4.36 billion PEPE.

PEPE large holder netflows / source: IntoTheBlock

This was the second highest spike in large holder net flows since December.

It is also worth noting that the previous highest spike occurred just before the price embarked on its previous rally that lasted between 20 December and 4 January.

There was also a bit of a shift in weighted funding rates between 10 and 11 January. The funding rates shifted from -0.0017 to 0.0099, indicating a surge in derivatives demand.

Open interest surged by +4.37% in the last 24 hours to $446.88 million.

PEPE weighted funding rates / source: Coinglass

These observations confirmed that there was also a resurgence of bullish demand in the derivatives segment.

This means PEPE crypto could potentially achieve a significant rally this week. However, that will only happen if it sustains the pace of accumulation especially from whales.

PEPE Addresses Surge to New ATH

The total number of PEPE addresses with balance surged to 360,900 addresses on 10 January. For context, it had 335,660 addresses at its all-time high in December, which was significantly lower.

ETH total addresses with balance / source: IntoTheBlock

Address growth reveals that investors have been buying the dip. This is indication that the market still finds PEPE crypto attractive as a memecoin and anticipates more growth in the future.

The growth PEPE addresses with balance also suggests that the cryptocurrency is up for some healthy long term performance.

As far as the near-term is concerned, PEPE’s latest demand signals a high possibility that the memecoin could potentially achieve a 20% uptick from its press time level.

On the other hand, short lived demand from whales may provide a false positive. Especially if large holder addresses kick off the week with outflows from large holder addresses.

This outcome could potentially pave the way for more downside and a break below support.

Source: https://www.thecoinrepublic.com/2025/01/12/pepe-crypto-addresses-hit-new-ath-at-360900-whale-activity-spikes-signaling-a-potential-accumulation/