PEPE price has spiked 11.8% in the last 24 hours to trade at $0.000009099 as of 8:06 a.m. EST on a 59.6% surge in trading volume to $916 million. The recent price increase has propelled Pepe’s market cap near the $4 billion mark. This week, PEPE has been flexing some serious gains, fueled by whale accumulation and a market starting to feel the FOMO. Can the Frog-themed memecoin deliver 129% returns in May?
On May 8, Lookonchain revealed that a whale scooped up 500 billion PEPE tokens worth $4.36 million. This wasn’t a one-time buy—the same wallet now holds 2 trillion PEPE, valued at over $17.42 million.
The chart shows a consistent buying pattern over the past week, with transfers of 500B PEPE ($4.54M) and a massive 1T PEPE ($9M) moving from Binance’s hot wallet to this whale’s address. Even in the last 20 minutes before the post, they grabbed another small bag of 280.615K PEPE.
This type of whale activity isn’t just flexing, it’s a signal. When they start stacking tokens like this, it usually means they’re betting on a price pump. The reduced supply on exchanges only adds fuel to the fire. Less PEPE on exchanges means less selling pressure, and that’s a recipe for a moon mission if demand keeps spiking.
This week, the broader crypto market has been a rollercoaster, and PEPE is riding the waves like a champ. The broader crypto market has been a rollercoaster this week, and PEPE is riding the waves like a champ. BTC has been courting the $100K level, consequently bringing some much-needed hype to the altcoin space. Meme coins, as usual, are soaking up the spillover, with PEPE leading the charge among the froggy crew.
Could this large holder dump their tokens and tank the price? It’s a valid concern, but for now, the buying spree is keeping the momentum bullish. CoinCodex’s prediction of PEPE hitting $0.00001075 by May 12, a 30.43% jump, has traders feeling extra optimistic.
Over the past week, the whale’s buying pattern shows they’re not messing around. The consistent inflows from Binance to their wallet suggest they’re playing the long game, likely expecting a breakout. This aligns with what we’ve seen in the market—PEPE has tested a breakout from an extended consolidation zone.
For the uninitiated, a consolidation zone is like that moment when the market’s playing hard to get—indecisive, with highs and lows squeezing and bouncing off demand (low) and supply (high) zones.
Here, PEPE price shot upward, eyeing a breakout from the range. Patterns like this on a daily chart can lead to massive moves, with win rates above 75%. That’s some high-probability flex right there. The chart shows $PEPE testing the resistance at $0.000009127, aiming for levels around $0.0000105, which aligns with the 200-day simple moving average (SMA).
Right now, PEPE is testing resistance around $0.0000098. If this level cracks with strong volume, we could see a 60% pump to the $0.00001–$0.000014 range. The chart also shows a key support zone around $0.000007744, which aligns with the 50-day SMA. If PEPE falls below this level, it would find support around $0.0000055 and $0.0000052.
Crypto analyst Joe Mitoshi pointed out that PEPE might have already hit its cycle top around $0.0000180, a level marked by a major resistance zone on the chart.
After a spicy run-up, the chart shows a correction phase kicking in, with PEPE dipping toward a key support area between $0.0000677 and $0.0000778—highlighted as the “blue area” where Joe expects a bottom to form.
He’s playing the long game, noting that PEPE might need some serious chill time to find equilibrium, potentially not entering a new bull trend until 2026.
Pepe’s short-term outlook is looking juicy, with whale buying, bullish patterns, and market hype all pointing to a potential breakout.
But don’t get too comfortable. The overbought RSI and whale concentration are risks to watch. If the whale decides to dump or if the broader market takes a hit (i.e, Bitcoin), PEPE could test lower supports at $0.00000714 or even $0.00000680.
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
This website uses cookies.