Ethereum News Today: Whale Accumulation Fuels PEPE's Bullish Divide in Downtrodden Market

The price of PEPE, the Ethereum-based memecoin, has experienced significant volatility, with recent data indicating a surge in whale accumulation despite broader market declines. According to CoinDesk, PEPE's price increased by 2.5% within 24 hours, outperforming the memecoin sector and the broader cryptocurrency market. The price rose from $0.00000969 to $0.00001027, with trading volumes crossing 314 billion tokens during a rapid price move in the final hour of trading. Technical analysis highlights a temporary floor formed between $0.00001000 and $0.00001003, suggesting accumulation rather than speculative trading PEPE Outpaces Memecoin Market as Whale Accumulation Rises^[1].

On-chain data from Nansen reveals that the top 100 PEPE addresses on Ethereum increased their holdings by 4.28% over 30 days, while exchange-held PEPE balances rose by 2.15% in the same period PEPE Outpaces Memecoin Market as Whale Accumulation Rises^[1]. This accumulation is further supported by open interest in PEPE futures products, which has reached $645 million, according to CoinGlass PEPE Outpaces Memecoin Market as Whale Accumulation Rises^[1]. A notable whale, qianbaidu.eth, transferred 657.8 billion PEPE tokens worth $4.44 million from Binance and deposited 8.67 million USDC into HyperLiquid to buy tokens, signaling confidence in the asset's long-term potential HYPE Accumulation Rises as Whales Defy Market Fear^[2]. Another whale, 0x2bfb, spent $4.97 million in USDT to acquire 600.88 billion PEPE tokens, reinforcing the trend of strategic accumulation HYPE Accumulation Rises as Whales Defy Market Fear^[2].

Further analysis from Elevenews underscores aggressive whale activity, with large investors adding 650 billion PEPE tokens to their holdings over 30 days, reducing exchange-based liquidity to a multi-month low PEPE Coin Price Reenters Historical Demand Zone as Whales Buy $5M^[4]. This reduction in available supply is seen as a bullish indicator, as it mitigates selling pressure and reflects strong conviction among major holders PEPE Coin Price Reenters Historical Demand Zone as Whales Buy $5M^[4]. A separate report by Lookonchain highlights a dormant whale that transferred 2.1 trillion PEPE tokens (worth $52 million) to a new address after holding the position for 600 days. The initial purchase of 2.1 trillion PEPE tokens cost just $27, resulting in a 1.9 million-fold return .

Technical indicators also point to potential price action. PEPE is currently testing a key support range between $0.0000060 and $0.0000075, a zone that previously triggered a 123% rally in early 2025 . Analysts suggest that a breakout above $0.0000104 could signal a bullish reversal, with targets extending to $0.00001500 . Meanwhile, the weighted funding rate for PEPE perpetual futures has remained positive, indicating sustained demand from long-position holders PEPE Coin Price Reenters Historical Demand Zone as Whales Buy $5M^[4].

Despite the recent volatility, some traders remain optimistic. A crypto trader profiled by Coingape turned $27 into $52 million by holding 2.1 trillion PEPE tokens, while another investor netted $2.19 million from PEPE trades alone, according to Benzinga . These cases highlight the high-risk, high-reward nature of memecoin trading, where large investors often capitalize on market dips to accumulate positions HYPE Accumulation Rises as Whales Defy Market Fear^[2].

The broader market context includes a $16 billion liquidation event in October 2025, which accelerated the bottoming process for major cryptocurrencies like BTC and ETH PEPE Outpaces Memecoin Market as Whale Accumulation Rises^[1]. However, PEPE's performance has diverged, with whale activity suggesting a potential recovery. Analysts note that while short-term risks persist, the accumulation patterns observed in October 2025 indicate growing confidence in the token's long-term prospects HYPE Accumulation Rises as Whales Defy Market Fear^[2].