Whale Dumps $11.65M PEPE, Signals Bearish Trend

A major whale has deposited 1 trillion Pepe [PEPE], valued at $11.65 million, into Binance after holding the tokens for 21 days. This move comes after the whale initially withdrew 2.209 trillion PEPE, worth $27.68 million, and still holds 1.2 trillion tokens valued at approximately $14 million. The deposit locked in a realized loss of $1.95 million, a behavior that often precedes trend reversals or marks exit phases. This high-profile dump may indicate more than just profit-taking; it could signal that large holders are preparing to offload their positions, especially if the price shows further weakness around current levels.

IntoTheBlock’s netflow data shows a dramatic +1144.65% spike over the last seven days. However, the 30-day metric remains deeply negative at -1968.60%. This suggests that the recent inflow is likely a temporary deviation in a broader trend of exits. Combined with the whale deposit, it appears that whales may be moving tokens to exchanges to distribute, not accumulate. Short-term inflows can be deceptive, especially if they precede selling. Therefore, this metric shift, while bullish on the surface, may be a red flag when examined in its full context.

PEPE is currently consolidating within a Pennant flag while hovering above strong confluence support around $0.00000970. At the time of writing, the token traded at $0.00001147, and the triangle structure was nearing its apex. A breakout above $0.00001236 could trigger momentum-driven gains. However, a breakdown below support would invalidate the pattern and likely attract heavy selling. The price compression suggests a powerful move is imminent. Therefore, this pennant formation is critical—whether it results in a breakout or breakdown will shape PEPE’s short-term trajectory and sentiment across the board.

At the time of writing, PEPE recorded $137.1K in long liquidations compared to just $4.03K in shorts. Bulls are clearly overleveraged, placing aggressive bets on a breakout. However, price action remains sideways, causing leveraged longs to suffer repeatedly. The imbalance between long and short liquidations shows bulls are being punished for premature optimism. If key resistance levels continue to hold, more long liquidations may follow. Therefore, until bulls regain control with strong volume, upward price movements will likely be short-lived, and opportunistic bears may continue profiting from the volatility.

According to Coinglass’s liquidation map, $0.00001114 is a high-risk leverage cluster. The area is stacked with 25x and 50x long positions. PEPE is currently flirting with this zone, making it a critical battleground. If bulls push the price above this level, cascading short liquidations could trigger a sharp rally. Conversely, rejection here would flush weak longs and reinforce bearish pressure. This level is not just resistance—it’s a liquidation trap for both sides. Therefore, how the price reacts around $0.00001114 could define the next major leg in either direction.

The whale’s $11.65 million deposit, paired with heavy long liquidations and mixed netflows, tilts the market bearish. PEPE still clings to key support, but indicators suggest bulls are on shaky ground. If the price breaks below $0.00000966, downside momentum could accelerate quickly. Therefore, this whale activity may very well be the early signal of another leg down, unless bulls defend with conviction and volume soon.