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.