- A whale moved 500B PEPE (about $4.8 million), briefly pushing the price below $0.0000094.
- PEPE outperformed many rivals while the meme coin market fell roughly 3%.
- Whale holdings of PEPE on Ethereum rose by 1.46% over the past month.
The meme coin market took a hit on Monday when a major PEPE holder transferred roughly $4.8 million worth of tokens to an exchange, causing a temporary price drop.
Despite that sell-off, PEPE has held up better than most meme coins, suggesting investors have not lost faith in the token.
On-chain data show a large PEPE wallet moved 500 billion tokens to Binance — about $4.8 million — indicating a significant sale or portfolio reshuffle.
The same whale has been under pressure for weeks, showing losses around $450,000 compared with earlier PEPE transactions, and big moves like this can unsettle liquidity and prices.
Immediately after the transfer, PEPE slid about 1% during the day, falling from highs near $0.00000992 to roughly $0.00000938 before recovering some ground.
It remains capped below the key resistance at $0.00001, but even so it outperformed the broader meme coin sector, which plunged nearly 3% over the same period.
Despite recent selling pressure, other large wallets have quietly increased their holdings. On-chain metrics indicate whale holdings of PEPE on Ethereum rose about 1.46% in the past month.
The token currently has a market capitalization near $4.1 billion, with over 420 trillion tokens in circulation, cementing its place among the top meme coins by value.
PEPE Price Outlook
In the short term, PEPE’s price trajectory looks uncertain, with traders watching support around $0.0000074 and resistance between $0.0000098 and $0.00001.
Market sentiment is cautious: there is some fear but not enough to trigger a broad-based sell-off. Many expect the token to move sideways before any decisive upward move.
Over the longer term, some analysts see room for gradual gains as meme coins carve out a more stable role in the broader crypto market.
Forecasts suggest PEPE could reach about $0.0000117 by the end of 2025, helped by community initiatives and continued retail interest in meme assets.
Crypto analysts caution that PEPE remains a high-risk, highly volatile asset, with large holders continuing to exert outsized influence over its price.
The recent whale sell-off is a reminder of how quickly sentiment can shift in meme coin markets, where speculative trading and social buzz often drive short-term moves.
Still, PEPE’s ability to fare better than peers after the September 1 sale points to underlying demand.
In the coming weeks, the token’s path will likely hinge on a mix of whale activity and broader adoption within the meme coin ecosystem.
Traders are expected to monitor major transfers and volume changes closely as potential signals of future market direction.