PEPE edged lower by about 1% after a whale moved 500 billion tokens—worth nearly $4.8 million—to Binance, signaling potential selling pressure. The transfer extended a 40-day losing streak that has already cost the trader an estimated $450,000.
The memecoin, however, quickly recovered from session lows near $0.00000938, last changing hands at $0.00000992. Trading spanned a 6% range, with resistance still firm just below $0.00001. More than 3.26 trillion tokens were traded during the day, with volumes surging during the rebound, according to CoinDesk Research.
On-chain data shows the whale still holds 1.5 trillion PEPE valued at more than $14 million. Broader wallet activity points to accumulation, with Ethereum-based whales boosting holdings by 1.46% over the past month, Nansen data shows.
PEPE’s resilience helped it outperform the wider memecoin market. The CoinDesk Memecoin Index (CDMEME) dropped nearly 3% in the past 24 hours, compared with PEPE’s smaller decline.
