Whales Boost PEPE by 63%, But Risks Remain
The Most Important Points at a Glance
PEPE, a well-known meme coin, has suffered significant losses in recent months. Despite a price drop of over 60% in the first quarter of 2025, renewed interest from large investors (“whales”) is now emerging. These investors have acquired large amounts of PEPE tokens in a short period. But is this commitment enough to initiate a sustainable price recovery?
Whale Activity Increases Significantly
Data from Spot On Chain shows that a newly created wallet has withdrawn 500 billion PEPE worth 4.3 million USD from the crypto exchange Binance. Additionally, an early investor who had already made significant profits with PEPE acquired another 506.2 billion tokens worth 4.4 million USD. This brought his total holdings to nearly 700 billion PEPE, valued at 5.11 million USD.
These transactions are part of a larger trend: whale activity has increased by 170% this week, with a total of 14.5 trillion PEPE tokens purchased.
Price Increase Despite Weak Market Sentiment
Due to increased whale engagement, the PEPE price has recovered by 63% from its March low. However, the current price remains well below the peak of 0.000028 USD, which PEPE reached in December 2024.
Although the price has stabilized, overall market sentiment remains cautious. Data from Santiment shows that both social volume and wallet address activity are low. Additionally, positive market sentiment has returned to a neutral level, indicating an uncertain price trend.
Derivatives Markets and Technical Analysis
In the derivatives markets, PEPE’s open interest (OI) briefly surged from 26 million to 50 million USD before settling below 45 million USD. This suggests that much of the recent price movement may have been driven by leveraged positions rather than organic demand.
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A look at technical indicators shows that despite the recent recovery, PEPE remains below key resistance levels. The price is still under the 200-day moving average (200DMA) as well as the overall upward trendline. Only a sustained rise above these levels could enable a full recovery from the first-quarter losses.
Our Assessment
Recent whale activity has provided short-term support for PEPE, but long-term recovery remains uncertain. Low market activity and weak demand outside of large investors could limit the upward trend. As long as PEPE does not break through key technical resistance levels, the risk of further price declines remains. Investors should closely monitor further developments.
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