Pepe (PEPE) has captured investor attention with a sudden surge in price, riding the wave of whale accumulation and growing meme coin hype across the crypto market.
The coin recently jumped nearly 20% to $0.00001252, fueled by large-scale purchases and decreasing token availability on exchanges. Analysts and traders are now closely watching whether PEPE can sustain this momentum and target the $0.00003 level in the coming weeks.
Whale Activity Sparks Price Surge
A substantial transaction on Kraken saw a wallet acquire 1.52 trillion PEPE tokens, valued at around $16 million. Such large-scale purchases are often viewed as indicators of confidence in the asset’s long-term potential.
$PEPE trading volume recently surged to $1.74 billion, driven by significant whale activity, signaling strong bullish momentum. Source: Crypto Zeus via X
Additionally, the movement of these tokens off exchanges suggests a reduction in available supply, which can exert upward pressure on the price.
On-chain data reveals that whales have moved approximately 11.75 trillion PEPE tokens, worth $160 million, in recent transactions. This accumulation has contributed to a 45% increase in trading volume, highlighting the growing interest in PEPE among large investors.
Technical Analysis Points to $0.00003 Target
From a technical standpoint, PEPE has broken out of a descending channel, signaling a potential shift in market sentiment. Following a double bottom formation near the $0.0000090 level, the coin has gained momentum.
PEPE rebounds from key support with a bullish double bottom, eyeing over 300% upside toward prior resistance. Source: Rose Premium Signals via X
If it successfully holds above the current resistance at $0.0000130, the price could rise toward the $0.0000160 level. The next key target is $0.0000220, before potentially reaching $0.00003.
A close above $0.0000126 would confirm the breakout, potentially targeting levels up to $0.0000163 if momentum continues. FX Leaders
Exchange Outflows Support Upward Momentum
A critical factor contributing to PEPE’s price surge is the decrease in available tokens on exchanges. Coincentral data show that the netflow of PEPE decreased by $4.7 million on September 13, further supporting the trend of exchange outflows. As tokens are withdrawn from exchanges, the supply available for sale reduces, and it is tougher for sellers to meet demand.
The lower liquidity on exchanges offers an environment where pressure to buy is more inclined to drive the price higher. As whale accumulation successively tightens supply, the odds of price increases increase.
Community Sentiment and Market Dynamics
The present altcoin season, where lower-quality tokens outperform Bitcoin, has also been one of the drivers of PEPE’s rally. In recent times, the Altcoin Season Index has crossed the 70 mark, indicating a rotation of capital into high-risk, high-reward setups like PEPE.
The token burn system and resolute community sentiment that steadily reduce supply have amplified the effect. These have maintained PEPE as the most-watched meme coin in the market today.
Final Thoughts
PEPE’s recent surge, supported by whale activity, low exchange liquidity, and bullish technicals, shows a rosy future for the token. While market volatility is a factor that cannot be avoided, increasing demand and managed buying can drive the coin to the $0.00003 level in the near future.
Pepe was trading at around $0.00001187, up 2.95% in the last 24 hours at press time. Source: Brave New Coin
Investors must exercise prudence and do their homework before they invest because the speculative nature of meme tokens is subject to wild price swings.