Ahmet Bedirhan Arvas 
One of the most notable moves in the crypto market in recent days is happening in Pepe Coin. On-chain data shows that large investors have accumulated substantial amounts of PEPE over the past weeks. According to Nansen’s analysis, the balance of Pepe held by whales increased by thirty percent over the past year to 8.95 trillion tokens. The group known as smart money rose from 258 billion in May to 643 billion, indicating that major players have strengthened their positions.
A Jump Triggered by Whale Activity
A high-volume purchase on August 9 had an immediate impact on price. A single whale wallet bought approximately 5 million dollars’ worth of PEPE, pushing the price up by 9.5 percent in one day to 0,0000123 dollars.
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Ethereum’s Strength Flows Into PEPE
Another factor behind the rise was the strong performance on the Ethereum front. Thanks to institutional interest and growing demand, ETH climbed back above the 4,000-dollar level after eight months. This activity in Ethereum positively reflected on memecoins in its ecosystem, supporting PEPE’s momentum.
The picture is also striking in the derivatives market. Futures data shows open interest reached 720 million dollars, hitting the highest level of August. The continuation of positive funding rates indicates that investors believe prices could move higher in the near term.
The technical outlook supports this advance. The rising trendline maintained since March remains intact. Price continues to hold above the 23.6 Fibonacci retracement level and the 50-day moving average. Among analysts’ short-term targets is the 0,000014-dollar level, and if this threshold is surpassed, the year-to-date high of 0,00001625 dollars is likely to be retested.
Given the inherently high volatility of memecoins, investors should act with caution. Even so, the current data set points to a landscape where whale interest persists, the technical trend remains unbroken, and the market tailwind generated by Ethereum creates a positive near-term backdrop for PEPE.
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