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Memecoins News: PEPE Rebounds After $4.8M Whale Sale, Still Outperforms Memecoin Sector

02/09 06:16

Key TakeawaysA whale sold 500B PEPE ($4.8M) on Binance, triggering a 1% intraday dip.Despite pressure, PEPE rebounded from $0.00000938 lows with sustained buying interest.Whale accumulation is rising — holdings on Ethereum are up 1.46% in 30 days.PEPE continues to outperform the memecoin sector, which fell nearly 3% in 24h.Whale Selling Meets Strong Market SupportPEPE faced selling pressure on Monday after a large token holder transferred 500 billion PEPE worth $4.8 million to Binance, contributing to a short-term dip near $0.00000938. The move came at a loss of roughly $450,000 after a 40-day downtrend.Despite this, PEPE staged a sharp rebound, trading around $0.00000992 as buyers stepped in to absorb supply. More than 3.26 trillion PEPE tokens exchanged hands during the session, with the strongest volumes recorded during the recovery phase.Whale Holdings Show ConfidenceBlockchain data shows the seller still retains 1.5 trillion PEPE worth $14M, while broader whale holdings on Ethereum rose 1.46% in the past 30 days, according to Nansen. This suggests opportunistic accumulation even as individual whales take profit.Technical PictureSupport: $0.00000938 defended strongly.Resistance: Firm below $0.00001; breaking this level is key for further upside.Momentum: Price swung within a 6% intraday range but closed near recovery highs.Sector ContextWhile the CoinDesk Memecoin Index (CDMEME) fell nearly 3% in 24h, PEPE’s ~1% drop underscored relative strength against other meme tokens. Sustained buying at support levels highlights continued confidence from parts of the market, according to CoinDesk.

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