Accumulation signals renewed confidence as PEPE defends key support
The PEPE (PEPE/USDT) token has begun to show signs of renewed strength, outperforming several leading memecoins as whale wallets continue accumulating near key support levels. After weeks of consolidation, the price is now hovering around $0.00000101, marking a modest but steady recovery from its September lows.
PEPE’s recent stabilization around the $0.00000090–$0.00000100 support zone has caught the attention of traders. This green band, visible on the chart, has served as a strong base since late June. A sustained defense of this level suggests buyers are regaining control after months of sideways trading.
Market data shows that trading volume has remained elevated during recent sessions, often a sign of accumulation by large holders. “The consistency in whale inflows since late September indicates renewed confidence,” one BITX technical analyst said. “As long as PEPE holds above its support, it remains positioned for a potential test of higher resistance levels near $0.00000130 and $0.00000150.”
However, despite the encouraging signals, BITX analysts caution that momentum remains fragile. The overhead resistance, highlighted in red on the chart, has rejected multiple breakout attempts over the past two months. A decisive close above these zones would be needed to confirm a bullish reversal.
Blockchain tracking data has shown a steady rise in addresses holding large PEPE balances, a development that typically precedes stronger price action. “Whales tend to accumulate during low-volatility phases,” BITX strategist explained. “Their buying behavior often foreshadows a medium-term rally, especially when retail interest is muted.”
PEPE’s ability to hold firm above key support while seeing sustained whale accumulation sets it apart from other memecoins currently struggling with liquidity and sentiment issues. While short-term resistance levels remain a hurdle, maintaining stability above the $0.000001 mark could open the door for a broader recovery, reinforcing its position as one of the most resilient assets in the memecoin market this quarter.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.