PEPE Jumps 10% as Crypto Whales Stack Up—Market Awaits Symmetrical Triangle Breakout

PEPE surged 10% in a single day as top whales quietly increased their holdings, while the token remains confined within a symmetrical accumulation triangle—poised on the verge of a significant breakout.

PEPE, the leading memecoin on Ethereum, experienced a 10% price rally over the past 24 hours, fueled by renewed activity from large holders resurfacing after a period of dormancy. Nonetheless, the token remains constrained inside a symmetrical triangle pattern—a technical structure suggesting potential buildup ahead of a decisive move.

As of press time, PEPE was trading at approximately $0.00001157. Analysts caution that surpassing the $0.00001366 resistance level may trigger a bullish breakout. Conversely, a breakdown from the triangle could negate recent gains, reversing the upward momentum rooted in a previously formed double-bottom pattern.

On-chain data reveals bullish behavior: the top 100 PEPE addresses increased their holdings by 1.5% this month. Transaction activity shows 6.819 million total, with buyers engaging in 1.206 million operations versus 851,000 from sellers—a sign that both whales and retail investors are accumulating.

A notable whale, with a perfect 100% strike rate on PEPE trades, re-entered the market for the first time in five months—purchasing and withdrawing $2 million worth of tokens from Binance. Despite a sitting paper loss of $7.25 million, based on an average cost of $0.00001683, the whale’s continued accumulation underscores a strong conviction.

Despite PEPE being dubbed an “ETH beta” for its movement parallels with Ethereum, derivatives remain neutral. The Accumulation Strength Index shows consolidation, and RSI metrics remain steady, reflecting the token’s extended equilibrium since March—buyers are holding their ground, but leverage-driven momentum has yet to return.

In summary, while PEPE is clearly “in the green” today, broader structural support is still pending. A breakout beyond the symmetrical apex would confirm bullish continuation, but sufficient volume and derivatives participation are essential to sustain momentum.

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