PEPE: Are We About to See a Bullish Surprise? Hint: Retail’s All In, But Where Are the Whales?

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  • Retail is piling in like it’s Black Friday, but the whales? Still MIA.
  • Some indicators are flashing “bullish surprise,” but don’t hold your breath just yet.

So, Pepe (yes, that meme coin) just experienced a buying frenzy. How much, you ask? Oh, just a casual 611 billion tokens worth $4.28 million in a mere eight hours. Yep, sounds like a great way to spend a Sunday.

At the time of writing, Pepe was worth $0.00000711, which is up a whopping 1.57% over the last 24 hours. Hold on to your hats, folks. The rollercoaster is just getting started.

This surge in buying has people wondering—could this be the start of something bigger? But before you get your hopes up, it’s time to dig into the details. Spoiler alert: It’s not all sunshine and moonbeams.

Retail is Back, But Where’s the Whale Party?

On-chain activity is showing a faint pulse of retail interest. Active addresses are up by a modest 0.47%, so congratulations, retail traders, you’re back in action! But don’t pop the champagne just yet, because new addresses are down by 6.78%. So, fewer new people are jumping on the Pepe train.

And just to really drive that point home, transactions under $1 surged by 67.4%. Yep, it’s the little guys accumulating the tokens. Meanwhile, the bigger fish (transactions over $10k) are like, “Yeah, we’re good,” with a decline of over 23%. Come on, whales, show us you’re alive!

And get this—volatility, which was once as chaotic as a toddler in a candy store, has settled down. So, maybe we’ve reached peak drama? Who knows.

Chart Breakout, Lower Volatility: Is PEPE Ready to Move?

Turns out, things have calmed down a bit. The 30-day volatility of PEPE dropped from 146.37% to 115.24%. Oh, what a relief! We’re transitioning from panic mode to… well, semi-panic mode.

This decrease in volatility often comes right before the market decides to go wild again, so don’t go to sleep just yet. PEPE also broke above its recent downward trend and has reclaimed the $0.00000700 level. Watch out, folks—this could be the start of something interesting.

And the moving averages? They’re playing the “come closer” game, and they might just cross soon. And you know what that means—bullish trend incoming, maybe. Fingers crossed, right?

Immediate resistance is hanging out at $0.00000737, and if that level breaks, $0.00000884 could be next. But don’t get too comfy because $0.00000698 is hanging out below as support. It’s like a tug-of-war, but with numbers.

And the whale situation? Oh, it’s like a bad breakup. Large holder inflows have dropped by a massive 74.15%. That’s not good, but the outflows are down too, by 76.75%. Whales aren’t leaving, but they’re certainly not coming to the party either. Is it too much to ask for a little enthusiasm?

Over the last 90 days, inflows dropped a modest 7.05%, and outflows increased by 22.24%. Translation: mild profit-taking, but not a full-on sell-off. A little bit of action, but not enough to move the needle.

Will Leveraged Shorts Be PEPE’s Ticket to the Moon?

In the land of derivatives, open interest dropped by 3.8%, suggesting that the big dogs are being a little more cautious. But—wait for it—there’s a spicy little detail in the liquidation heatmap. There’s a cluster of short positions between $0.0000074 and $0.0000076. Translation: if PEPE breaks through this level, all those short-sellers will have to buy back, creating a lovely little rally.

So, here’s the deal: Pepe’s showing some signs of life. There’s been a decent accumulation, the technicals are flirting with a breakout, and volatility is more chill. But whales are still playing hard to get, and new users aren’t flocking in droves. Will the retail crowd make enough noise to get the whales back? We’ll have to wait and see. For now, PEPE is cautiously bullish, but it could be months before we get the confirmation we’re all hoping for.

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2025-04-17 06:21