PEPE’s 84% Rally Seen as Fragile Amid Whale Selling and Crowded Longs

Beincrypto reports that PEPE’s recent 84% price rally could reverse quickly despite strong short-term gains; the token has slipped about 3% over the past 24 hours, is up nearly 84% from its late December low and roughly 62% over the past seven days, but remains about 32% down over the past three months.

On the 12-hour chart PEPE appears to form a bull pole and flag while the 50-period exponential moving average is closing in on the 100-period EMA, a setup traders often read as bullish. That structure, however, depends on holding roughly $0.0000060; the analysis says a 12-hour close above $0.0000072 would invalidate the bearish angle.

On-chain data show large holders reducing exposure, from about 136.71 trillion PEPE on December 29 to roughly 133.85 trillion PEPE now, a drop of nearly 2.86 trillion tokens—around $20 million at current prices. The spent-coins metric jumped from about 419 billion PEPE to nearly 1.88 trillion after December 30, which the report says often signals distribution and profit taking.

Key Topics

Crypto, Pepe, Whales, Spent Coins, Perpetual Futures, Long Liquidations