PEPE Surges 11.36% as Whales Buy 21.18 Trillion Tokens

Pepe's latest price was $0.00001364, up 11.363% in the last 24 hours. This recent price upswing indicates strong demand, with buyers dominating the market. This buying pressure is increasingly dominant among PEPE’s large holders. As such, whales have bought 21.18 trillion tokens in just 24 hours. Such a massive buying pressure from PEPE whales was last witnessed in November 2024 and January 2025. This surge in buying has pushed the Relative Strength Index (RSI) to 83, deep into overbought territory. The last time RSI climbed above 80, PEPE hit record highs—only to crash shortly after. Historically, when buying activity surged to recently witnessed levels, it has preceded price correction as buyers get exhausted and sellers enter the market to take profit. For instance, in 2024, when RSI reached 88, Pepe surged to in late November. When it reached 80, prices rallied to an all-time high in December. After this price uptick, it followed a massive decline, with the memecoin declining as low. So, if history rhymes, this wave of buying could be a prelude to another sharp correction. According to analysis, with RSI reaching levels associated with correction, we have witnessed signs of a looming pullback over the past day. As stated earlier, the memecoin has dropped over the past day, abnormally in the trend over the past four days. However, the market isn’t folding just yet. PEPE’s Exchange Flow Balance sits at -35.8 billion, showing more withdrawals than deposits. That’s often a bullish sign, as it suggests traders are holding, not selling. The continued accumulation suggests that investors are still bullish and see future potential with the memecoin. PEPE is still in a strong downtrend, as confirmed by rising DMI. Looking at the Directional Momentum, PEPE is experiencing strong upward momentum. The momentum suggests a potential continuation of the current trend. If the trend continues, Pepe will cover the losses recorded on daily charts and attempt a move. If it breaches this level, the next significant resistance is. However, if the surge in RSI and buying spree leads to history repeating itself, Pepe will retrace to. The meme coin market is heating up again, and PEPE is benefiting from the bullish momentum. The frog-themed token has surged, riding a new wave of investor optimism in the cryptocurrency market. The crypto market is heading into the weekend with strong bullish momentum. A few sectors, including meme coins, liquid staking platforms and Layer-1 blockchains, are showing double-digit percentage gains in market capitalization. The meme coin sector alone has risen, with PEPE among the standout performers. PEPE's surge is backed by increased trading volume and on-chain activity, with whale movements and retail buzz helping to drive momentum. According to technical charts, PEPE has risen past a critical resistance level, bolstering the price surge. On May 8, a crypto whale had purchased 500 billion PEPE, bringing the whale's total holdings to 2 trillion PEPE. On Friday, when the price of PEPE soared, blockchain data tracker reported a massive 7.14 trillion PEPE worth about was transferred between unknown wallets in a single transaction. PEPE began to recover from its lows on May 6, and the rally gathered traction as the price surged substantially on Thursday. Strong buying pressure was also clearly apparent in the Friday session, with the PEPE price surging to a high, thereby removing a zero from the PEPE price and causing it to post its fourth straight day of gains since May 6. PEPE remained in the green, rising in the previous 24 hours, after reaching intraday highs.