- Whale offloaded 500B PEPE ($4.8M), briefly pulling price under $0.0000094.
- PEPE outperformed peers, while meme coin market sank 3%.
- Whale holdings on Ethereum up 1.46% over the past month.
The meme coin market took a jolt on Monday when a big PEPE holder dumped about $4.8 million worth of tokens, sending the price down.
Even with that sell-off, PEPE is still holding up better than most of the meme coin pack, a sign that investors haven’t lost faith in it just yet.
Market data shows that one big PEPE wallet moved 500 billion tokens, worth about $4.8 million over to Binance, signaling a major sell or reshuffle.
The same whale has been in a slump for weeks, down around $450,000 on earlier PEPE trades, and big moves like this often shake up liquidity and prices.
Right after the transfer, PEPE slipped about 1% on the day, falling from highs near $0.00000992 to around $0.00000938 before clawing back some ground.
It’s still stuck below the $0.00001 resistance line, but even so, it held up better than the broader meme coin market, which sank nearly 3% in the same stretch.
Even with the recent selling pressure, other big wallets have been quietly adding to their stacks. On-chain data shows whale holdings of PEPE on Ethereum are up about 1.46% over the past month.
The token now carries a market cap of roughly $4.1 billion, with more than 420 trillion tokens in circulation, cementing its spot among the leading meme coins by value.
PEPE’s price outlook
In the short term, PEPE’s price path looks choppy, with traders watching support near $0.0000074 and resistance around $0.0000098 to $0.00001.
Sentiment remains cautious: there’s some fear in the market, but not enough to trigger a full-scale sell-off. Many expect the token to drift sideways before any clear move higher.
Longer term, some analysts see scope for slow but steady gains as meme coins carve out a firmer place in the crypto market.
Forecasts point to PEPE potentially edging up toward $0.0000117 by the end of 2025, helped by community projects and continued retail interest in meme assets.
Crypto analysts warn that PEPE remains a high-risk, high-volatility asset, with large holders continuing to exert outsized influence on its price.
The latest whale selloff is a reminder of how quickly sentiment can turn in memecoin markets, where speculative trading and social buzz often drive short-term moves.
Even so, PEPE’s ability to hold up better than its peers after the September 1 sale points to steady underlying demand.
In the weeks ahead, the token’s trajectory will likely hinge on a mix of whale activity and broader adoption within the meme coin ecosystem.
Traders are expected to track major transfers and volume changes closely as potential signals of where the market heads next.
