There is an ongoing shift in the market as PEPE price, along with other memecoins, is seeing a mild bearish breakdown. While the bearish shift has seen the memecoin market capitalization drop by 6.14% to $66 billion, some whales have taken the opportunity to buy the dip in anticipation of a potential breakout rally soon.
PEPE Price May Respond to Whale Buyup
According to data from Lookonchain, a dormant whale has come back to life after 2 years. Upon waking up, the whale created a new wallet from which it withdrew a total of 1.79 trillion PEPE from Binance Exchange.
A whale woke up after 2 years of dormancy, created a new wallet, and withdrew 1.79T $PEPE($22.23M) from #Binance. pic.twitter.com/NbyiZRsEcy
— Lookonchain (@lookonchain) May 17, 2025
Valued at more than $22 million, this buyup has positioned the token for a liquidity crunch in the open market. According to an analysis of the whale’s wallet, there has been no prior exposure to the frog-themed memecoin, fueling the speculations around the surprising acquisition.
PEPE whale transactions have grown remarkably over the past week as the coin showed the biggest sign of breakout. PEPE price at the moment is not yet reflecting this reality. At the time of writing, the token was changing hands for $0.00001246, down by 8.64% in 24 hours.
PEPE Daily Price Chart: Source: TradingView
The PEPE/USDT daily chart has hinted as sustained volatility for the memecoin moving forward. With a Relative Strength Index (RSI) of 63.23, the token is just shy of its oversold level.
The dilation on the Bollinger Bands is the largest recorded since at least January 31. With this setup, volatility remains at play and can make or mar the direction of the token.
Historical Trend Defining PEPE Growth Outlook
Whale accumulations in the market is often a sign of a likely rally ahead. This expectation aligns with the PEPE price history as shown on Cryptorank.
PEPE Monthly Chart. Source: Cryptorank
The monthly returns show May is the best month for the token since its inception. Unlike every other month in the year, the PEPE price has not recorded any selloff in May since 2023. The Dogecoin challenger has an average growth rate of 82.3% for the month and is on track to beat this historical record with its 40.4% surge Month-to-Date (MTD).
In an earlier PEPE coin analysis, the targeted ATH this week as short sellers were caught in liquidations. This outlook remains at play as the analyst projects a likely shift for the memecoin moving forward.
Meanwhile, other meme coins like Dogecoin and Shiba Inu are also facing similar drawdowns. However, each token capitalizing on unique ecosystem trends, a potential breakout rally might be recorded soon.
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Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
