- Whale bought 420B PEPE worth $5.39M, adding to 2.21T tokens withdrawn from Binance, suggesting strong accumulation interest.
- PEPE trades near $0.00001295, above 20-day SMA; price range tightening hints at potential breakout or support retest.
- Resistance at $0.00001366 is key; breakout may target $0.00001627, while failure could send price down to $0.00001000.
PEPE has seen notable activity, driven by increased whale interest and recent market consolidation. According to Lookonchain, a whale accumulated 420 billion PEPE tokens worth approximately $5.39 million in the last 5 hours.
This adds to a total of 2.21 trillion PEPE tokens withdrawn from Binance over two days, valued at roughly $29.28 million. The dormant whale had returned, creating a new wallet and withdrawing 1.79 trillion PEPE tokens worth $22.23 million a day before.
Price Movement and Market Outlook
At press time, PEPE was trading at $0.00001295, a 1.48% 24 hour increase. The token has a day high of $0.00001366 and a low of $0.00001288. This range shows modest volatility amid consistent market activity. Trading volume is at 9.73 trillion PEPE tokens, slightly lower than previous highs but still notably active.
This price behavior follows earlier strength in May. The token had rallied previously, and now is to be consolidating near short term support. Despite the pullback from daily highs, prices remain above key support levels.
Bollinger Bands and Distribution Metrics
PEPE is trading slightly above the 20 day simple moving average of $0.00001142. The Bollinger Bands are narrowing, with the upper band at $0.00001627 and the lower band at $0.00000658. This reduced gap suggests limited recent price expansion, with prices near the middle of the band.
The Accumulation/Distribution (A/D) line is at 1,059.67 trillion, close to recent peaks. This indicates steady accumulation by large holders, despite short term market dips. The price pulling back from the upper band shows recent profit taking, yet buying interest remains intact.
Resistance Test and Chart Pattern
According to analyst Rose View, PEPE is forming a rounded bottom pattern on the weekly timeframe. The token is currently testing a critical resistance zone. If a breakout and retest occur successfully, targets may be established at $0.00001872 and $0.00002745.
The analyst also notes that the ideal long entry would be around the 0.618 Fibonacci level near $0.00000941, should prices retrace. The current outlook remains valid while support levels hold firmly across short and mid term charts.
Potential Prices for May 21
If PEPE breaks above $0.00001366, the next upside targets are $0.00001500 and $0.00001627. However, if it fails to hold above $0.00001280, prices may drop toward $0.00001142 or even as low as $0.00001000.
