Key Takeaways
- A major whale deposited 1 trillion PEPE ($11.65M) to Binance, locking in a $1.95M loss—potentially signaling a broader distribution phase.
- PEPE trades near critical support with rising long liquidations and mixed netflow data, raising the risk of a sharp breakdown.
A major whale has shaken up the Pepe (PEPE) market by depositing 1 trillion tokens—worth $11.65 million—into Binance after holding them for just 21 days. This deposit follows a previous withdrawal of 2.209 trillion PEPE valued at $27.68 million. Despite the transfer, the whale still retains 1.2 trillion PEPE, worth approximately $14 million. Notably, the move locked in a realized loss of $1.95 million, hinting that this might be more than a simple profit-taking maneuver—it could mark the start of a distribution phase.
Whale Activity and Netflow: Signals of a Strategic Shift?
Blockchain analytics from IntoTheBlock show PEPE exchange netflows surged +1144.65% over the past seven days. However, the 30-day trend remains bearish, with a steep -1968.60% drop. This contrast suggests the recent spike could be a temporary deviation rather than a sign of bullish accumulation. The whale’s Binance deposit adds to the suspicion: large holders may be quietly shifting to distribution mode, especially if current price levels fail to hold.
Short-term inflows can often disguise broader exit strategies, and this seems to be the case for PEPE. The uptick in exchange deposits should not be interpreted in isolation—context suggests the market may be nearing a tipping point.
Technical Patterns Point to a Make-or-Break Moment
PEPE is currently consolidating in a Pennant flag, trading around $0.00001147. The triangle is nearing its apex, with key support at $0.00000970 and resistance at $0.00001236. A breakout above the resistance could fuel bullish momentum, but a breakdown risks invalidating the pattern and inviting further selling pressure.
Adding to the tension, Coinglass’s liquidation map reveals a leverage cluster around $0.00001114. This price zone, packed with 25x–50x long positions, is a critical battleground. Rejection here could cause a long squeeze, while a push higher might trigger short liquidations and a rally.
Also Read: PEPE Surges 9% as Whales Accumulate
Bulls Losing Ground as Liquidations Mount
Currently, long liquidations dominate at $137.1K compared to just $4.03K in shorts. The funding rate remains mildly positive at +0.0070%, indicating a lack of strong conviction. Bullish traders are repeatedly punished for aggressive leverage, and unless key resistance breaks convincingly, more liquidations may follow.
In sum, the whale’s $11.65M dump, coupled with shaky technicals and heavy long liquidations, suggests caution. Unless bulls step up with volume and resolve, PEPE may be headed for another sharp leg down.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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