Pepe Whales Buy the Dip, Price Dips 9%: More Losses?

Key Insights

• Pepe whales buy 3.26 trillion tokens in 24 hours

• Pepe prices decline for four days consecutive days despite whale accumulation

Pepe Whares Buy the Dip

As reported by OnChainLens, over the past 24 hours, newly created wallets have withdrawn over 1.79 trillion PEPE tokens from Binance, worth approximately $22.22 million, signaling strong accumulation.

Recent transaction summary showing a whale's activities involving significant PEPE and ETH transfers, highlighting a 1.79 trillion PEPE transfer valued at $22.22 M.

About nine hours earlier, another whale wallet (address starting with 0xaca) pulled 96.9 billion PEPE (~$1.28 million) from KuCoin. Combined with other movements in the same time window, total whale purchases have now crossed 3.26 trillion PEPE in just a day.

This level of coordinated accumulation suggests that whales are active in the market to accumulate the memecoin at lower rates.

 Why Are Whales Buying ?

There are several potential reasons behind this buying spree. Firstly, whales are in anticipation of Another Bullish Leg. With PEPE's price having recently shown signs of weakness, whales are now positioning early in expectation of a short-term rally.

Read also: Pepe whales sell 500 billion tokens

Secondly, with so many tokens moving off Binance and KuCoin into private wallets, the available supply on exchanges is shrinking, which historically can drive prices higher when demand spikes. Also, the fact that a fresh wallet was used for the $22M withdrawal suggests this isn’t a retail investor — it’s likely a high-net-worth entity or fund seeking to accumulate quietly without drawing too much attention.

 What’s Next for PEPE?

When large holders move millions of dollars worth of tokens off exchanges, it typically means they’re planning to hold, not sell, at least not immediately.

While Pepe whales are actively buying, Pepe prices have declined for four consecutive days. The price has dropped from $0.000015 to $0.000012. The drop in prices indicates that while whales are actively buying, other players are selling.

Candlestick chart showcasing the volatile price movements of Pepe cryptocurrency, highlighting a recent price surge and subsequent correction.

For prices to recover, other players need to follow suit and start buying like whales are doing. If retail traders follow suit and broader sentiment improves, PEPE could be gearing up for a significant move.

A shift in momentum will see Pepe prices attempt an upswing towards $0.000014. On the other hand, a continuation of the bearish trend could result in prices declining further to $0.000010.