PEPE Price Gains Despite $40M Whale Sell: Will Retail Drive 20% More?

PEPE price saw a 24-hr jump close to 9% earlier today, standing among the top meme coin gainers during the market rally.

Yet, this price rise comes with a big twist. While whale wallets have reduced their holdings sizably, small retail traders keep adding more.

In most cases, such opposite moves create mixed signals. Therefore, to see if a 20% rally is still on the table, we need to look closely at the latest chart patterns and even on-chain metrics.

Retail Traders Accumulate As Whales Reduce Holdings

On-chain data shows whales have sold about 40 million PEPE tokens in recent days.

Often, large dumping  by whales brings selling pressure. More so because it removes support from the biggest holders. It can also weaken confidence as smaller traders notice these exits.

Retail traders, however, have been active buyers. The number of PEPE holders has climbed from around 207,000 to 211,000 in a week.

This means more small investors are entering the market or adding to their existing holdings. Many could be cost-averaging or chasing the rally after recent 9% gains.

Put together, this shows a divided  market. Whale exits suggest caution, but growing retail activity can help prices stay supported. The market will get a fresh push forward if retail demand supports it steadily.

The 24-hour PEPE price rally that happened, therefore, seems to be driven by the retail and not whales. If whales come back, there could be more legs to this upmove.

OBV And Bull-Bear Power Show Mixed Market Strength

On-Balance Volume (OBV) is a metric that tracks whether trading volume is flowing in or out of a coin.

Rising OBV means more buying volume on positive price action days than selling volume on days where the PEPE price dips.

For PEPE, OBV is holding above 1.98 trillion but has not broken its previous high of 1.993 trillion.

This means buying is steady but not accelerating strongly. OBV needs to make a higher high if the PEPE price wants to go further.

Bull-bear power compares the strength of buyers to sellers. Positive bull power means buyers have the upper hand, while negative bear power means sellers dominate.

PEPE’s bull power is still positive but lower than it was in July, showing buyers are losing some strength, even though they still lead.

Together, these indicators tell us the market looks bullish, but momentum is weaker.

For a solid breakout, OBV must push past its old high, and bull power must rise to the July levels. Without both, any rally attempt may lose steam.

PEPE Price Pattern Points to Key Breakout Levels

The PEPE price chart is trading inside a descending triangle. This pattern forms where lower highs form while support holds steady.

The key support is near 0.0000011, and Fibonacci retracement lines inside the triangle act as extra resistance points.

If PEPE breaks below support, it could trigger more selling and a deeper pullback, extending even to $0.000009.

But a breakout above the triangle’s resistance could point to a target about 20% higher than current levels, based on the triangle’s height.

The trend-based Fibonacci extension levels still show $0.000014 as a key point. But then, OBV, bullish power, and all other metrics need to work together if that needs to be achieved.

Right now, the setup is balanced between risk and reward. Whale selling and fading bull power bring caution, but steady retail demand and stable OBV keep bullish hopes alive.

If key resistance breaks, the 20% rally remains possible. But then, if support fails, the PEPE price could slip further before recovering, with the low sitting at $0.000009.