- Whale reactivation suggests early signs of strategic PEPE accumulation.
- Liquidation zones and NVT spike indicate short-term volatility despite intact bullish structure.
A dormant whale recently reactivated after two years and withdrew 1.79 trillion Pepe [PEPE]—worth $22.23 million—from Binance into a fresh wallet.
This major move aligns with a significant surge in large transaction volumes, hinting at growing interest from whales and institutional players.
Notably, $100k–$1M transactions jumped 147.25%, while $1M–$10M and $10k–$100k surged by 100% and 91.72%, respectively. These increases suggest a quiet yet intentional capital shift.
Therefore, such aggressive accumulation behavior could be laying the groundwork for the next price leg. It marks a potentially bullish signal often seen in early rally phases.
Source: IntoTheBlock
Sentiment remains far from euphoric
While whale activity and price movements stirred the market, social dominance has only shown a modest rise. It climbed to 0.82%, up from previous lows near 0.6%, indicating a slight return of community engagement.
However, this increase is relatively subdued compared to euphoric spikes seen in previous uptrends. This restrained chatter could suggest that retail traders are still on the sidelines, watching how whales maneuver.
Therefore, the market appears to be in a transitional phase—where smart money acts early while broader sentiment remains cautious.
Source: Santiment
Is the price moving too fast?
PEPE’s Network Value to Transactions (NVT) ratio has risen to 59.27, which may raise concerns. The indicator reflects that the token’s valuation is starting to outpace its on-chain transaction volume.
Such an imbalance often signals overheating or waning network utility relative to market cap. While it doesn’t confirm a reversal, the elevated ratio highlights the need for caution among traders.
Moreover, it suggests that unless activity picks up, sustaining higher price levels may prove difficult.
Source: Santiment
Will leverage-driven volatility define PEPE’s next move?
At the time of writing, PEPE was trading at $0.00001233, down 8.55% in the past 24 hours. Liquidation data showed intense long pressure building near $0.00001224, while shorts clustered above $0.00001300.
These zones mark critical battlegrounds between bulls and bears. Moreover, high leverage positions—particularly 25x and 50x—are densely packed across these levels, increasing the probability of sharp moves.
Therefore, any breakout or breakdown from the current zone could trigger cascading liquidations. Traders should watch closely as market makers exploit these concentrations to induce volatility.
Source: Coinglass
What does the technical outlook suggest?
Despite the recent dip, PEPE still maintained its structure above the mid-Bollinger band, which sat around $0.00001076 at press time. The price faced rejection near the $0.00001554 resistance and has since pulled back.
However, the MACD was approaching a neutral crossover zone, hinting that bearish momentum could slow. The broader uptrend that started in early April will remain intact unless key support at $0.00001027 fails.
Therefore, the recent correction may serve as a healthy consolidation phase rather than a full reversal. Momentum traders may look for strength above $0.00001300 to re-enter bullish positions.
Source: TradingView
Is PEPE gearing up for a fresh leg up?
The recent whale accumulation, rising high-value transactions, and mild uptick in social interest suggest growing confidence in PEPE’s outlook.
However, caution is warranted as the NVT ratio and liquidation heatmap signal possible volatility.
Therefore, PEPE may be entering an accumulation phase, but a breakout depends on whether price gains attract stronger network activity and broader sentiment.
