PEPE Holds Key Support Level as Volume Surge Points to Whale Trading Activity

PEPE’s price rose 0.67% over the last 24-hour period, holding above a crucial support band even as volume surged to levels that suggest large players are actively managing their positions.

The meme token rose from $0.000007205 to $0.000007265 over the period, trading within a tight range that kept volatility in check according to CoinDesk Research's technical analysis data model. Though the move appeared modest, the surge in trading activity told a more complex story.

At one point, volume jumped 72% above its daily average, hitting 2.70 trillion tokens, mostly during tests of resistance near $0.000007249. That kind of activity, often seen when large holders sell into strength, hints at coordinated positioning rather than panic-driven exits.

Data from Nansen shows that in the past week the top 100 non-exchange addresses on Ethereum have added to their holdings, which rose nearly 1% to 306.7 trillion. Similarly, PEPE on exchange wallets dropped 0.95% to 232.59 trillion tokens.

PEPE has since bounced slightly off its lows, finishing at $0.000007152. The rebound followed a pattern of higher lows forming through the day, a potential early signal of consolidation, as traders test the $0.000007090 to $0.000007140 support zone.

PEPE now faces nearby resistance between $0.000007260 and $0.000007270. A move above that could open the door for further gains, but if support breaks below $0.000007090, the setup may turn bearish.

The broader crypto market, reflected in the CD20 index, trended lower, slipping 0.2% in the last 24-hour period. The memecoin sector, based on the CoinDesk Memecoin Index (CDMEME), rose 1.6% in the same period.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.