Although PEPE has seen its price decline recently, major investors known as “whales” have been quietly increasing their stakes, growing their holdings by over 5% in the past month—a sign of continued interest in the memecoin despite market uncertainty.
PEPE (PEP), the frog-themed cryptocurrency, fell nearly 6% over the last day as market jitters persisted. Traders are wary due to geopolitical tensions linked to the looming deadline for Trump’s reciprocal tariffs, which have added another layer of pressure to the already cautious crypto market.
In the past 24 hours, PEPE has traded within a broad 16.5% price range, underscoring the asset’s high volatility, especially in an environment of lower trading volumes that leaves prices vulnerable to sharp swings.
Nevertheless, whale activity suggests ongoing confidence. Blockchain analytics firm Nansen reports that large wallets have increased their PEPE holdings by more than 5% in the last month, now controlling about $3 billion worth of tokens—over 70% of PEPE’s circulating supply.
Meanwhile, PEPE’s presence on centralized exchanges has dropped to a two-year low, with supply down to around 247.2 trillion tokens, reflecting nearly a 3% decline since the start of July, according to Nansen’s figures.
Technical Overview
PEPE has struggled to push past resistance at roughly $0.0000106, with sellers stepping in each time prices attempt to rise.
On the downside, the token has found a support level near $0.00000965, helping prevent further steep losses. Technical analysis from CoinDesk Research indicates the market remains volatile, trading within a wide range.
Charts show PEPE is moving within a descending channel, with selling pressure emerging during price rallies. Trading volume patterns suggest traders are more inclined to take profits during spikes rather than build new long positions.
However, there are hints that PEPE could bounce back. A recent increase in trading volume lifted prices modestly from recent lows, suggesting some traders still believe in the potential for a recovery if broader market sentiment stabilizes.
