Retail Buyers Are Gaining Momentum

PEPE, the popular memecoin, has seen a remarkable surge in retail-driven accumulation. In a stunning development, five wallets combined to purchase a whopping 611 billion tokens, totaling around $4.28 million, in just eight hours. As of now, PEPE is trading at $0.00000711, reflecting a modest increase of 1.57% over the past day.

The Wait for Whales Continues

Despite this retail enthusiasm, whale activity remains surprisingly low. On-chain metrics indicate that while retail interest is on the rise—with active addresses increasing by 0.47%—the number of new addresses has dipped by 6.78%, suggesting limited overall user growth. Furthermore, transactions under $1 soared by 67.4%, indicating that smaller investors are accumulating, while larger transactions (between $10,000 to $100,000) fell over 23%, reflecting a lack of whale participation.

Volatility Settles: What’s Ahead for PEPE?

After a period of intense price fluctuations, PEPE’s volatility has begun to stabilize. The coin's 30-day volatility has dipped from 146.37% to 115.24%, hinting at a transition from uncertainty to more stable trading conditions. This calm often precedes significant price movements as market sentiment consolidates.

Technically speaking, PEPE has recently breached its descending channel and regained the critical $0.00000700 mark. If it surpasses the immediate resistance at $0.00000737, the next target could be $0.00000884. Conversely, a critical support level sits at $0.00000698, which must hold for the bullish outlook to remain intact.

Mixed Signals from Whale Activity

Whale activity presents a complex picture. Over the last 30 days, inflows from large holders have plummeted by 74.15%, indicating reduced accumulation. However, outflows have also decreased sharply by 76.75%, suggesting that whales are not exiting the market at an alarming rate. Analyzing the 90-day trend shows a slight dip in inflows by 7.05%, with outflows climbing by 22.24%. This points toward cautious profit-taking, but not a full-scale retreat.

Short-Selling Pressure: A Potential Catalyst?

In the derivatives market, open interest has shrunk by 3.8% to $288.14 million, reflecting a cautious mood among traders. Notably, the liquidation heatmap reveals dense short liquidation zones between $0.0000074 and $0.0000076. If bulls can rally past this critical zone, a cascade of forced buybacks could propel PEPE into a vigorous upward movement.

Conclusion: Cautiously Optimistic