PEPE Price Surges 5% as Retail Accumulation Gains Momentum

PEPE, a popular meme coin, is currently experiencing a surge in retail accumulation while whale activity remains subdued. This dynamic has led to speculation about a potential bullish breakout for the cryptocurrency. Observers note that PEPE's price has risen by 5% over the past week, indicating a growing interest among retail investors. The 30-day volatility of PEPE has also decreased from 146.37% to 115.24%, suggesting a shift from high uncertainty to more stable price action. This decline in volatility often precedes significant price movements, adding to the optimism surrounding PEPE's potential breakout.

On-chain data suggests retail traders are slowly coming back to the scene. Over the past week, active addresses rose by 0.47%, a small but positive sign of engagement. However, new addresses dropped by 6.78%, hinting that not many new users are jumping in just yet. Digging deeper, there’s a notable 67.4% spike in transactions under $1, showing that small traders are accumulating PEPE. On the flip side, larger transaction brackets like the $10k to $100k range dropped over 23%. In short, whales are still waiting on the sidelines.

The subdued activity from whales, who typically hold large amounts of a cryptocurrency, is another factor contributing to the bullish sentiment. Whales often influence market movements with their significant holdings, but their current inactivity suggests that retail investors are driving the price action. This retail-driven accumulation could lead to a sustained upward trend if the momentum continues. The lack of whale activity also indicates that there may be fewer large sell-offs in the near future, which could further support PEPE's price. Retail investors, on the other hand, are accumulating PEPE, which could lead to a supply squeeze if demand continues to outpace supply. This scenario could result in a bullish breakout, as the limited supply of PEPE would drive up its price.

Technical indicators are starting to show signs of bullish momentum. PEPE broke out of a descending channel and reclaimed the $0.00000700 mark. The 9-day and 21-day moving averages are close to crossing, which might signal a positive trend change in the coming days. Right now, PEPE is facing immediate resistance at $0.00000737. If that level is cleared, the next target could be around $0.00000884. Meanwhile, the key support lies at $0.00000698. As long as PEPE stays above this level, the bullish case remains alive.

However, whale data paints a mixed picture. Over the last 30 days, inflows from large holders dropped by 74.15%, while outflows also fell by 76.75%. This suggests that while whales aren’t actively buying, they’re not leaving either. On a 90-day scale, inflows dipped slightly while outflows rose by over 22%, hinting at some profit-taking but not a mass exit. In the derivatives market, things are quieting down. Open interest fell by 3.8% to $288.14 million, showing cautious sentiment among traders. However, liquidation data from Bitget tells an interesting story. There’s a dense short liquidation zone between $0.0000074 and $0.0000076. If bulls manage to push the PEPE Price into that zone, it could trigger a wave of forced buybacks—possibly igniting a strong rally. But for that to happen, spot buying pressure must remain strong.

While the recent accumulation and technical breakout offer reasons to be optimistic, PEPE Price is still looking for stronger confirmation. Retail interest is picking up, and volatility is down, a good setup for a move. But until whales step back in and new users return in bigger numbers, it’s wise to stay cautiously bullish. The next few days will be key. If PEPE pushes above $0.0000076 with volume, we might just see the breakout everyone’s been waiting for. However, it is important to note that the cryptocurrency market is highly volatile and unpredictable. While the current trends suggest a bullish outlook for PEPE, there is no guarantee that this will continue. Investors should exercise caution and conduct thorough research before making any investment decisions. The potential for a bullish breakout is based on current market conditions and trends, but the cryptocurrency market is subject to sudden and dramatic changes. Therefore, investors should be prepared for the possibility of price fluctuations and potential losses.