PEPE Holds Support as Whale Activity Drives 72% Spike in Trading Volume
28/10/2025

PEPE held steady above a key support level even as trading volume spiked sharply, signaling active repositioning by large holders.

The meme token gained 0.67% over the past 24 hours, trading from $0.000007205 to $0.000007265, within a narrow band that kept volatility muted, according to CoinDesk Research’s technical data model. Despite the modest price move, the 72% jump in trading activity — to 2.70 trillion tokens — pointed to heightened institutional or whale participation.

Most of the volume concentrated around resistance near $0.000007249, a level where large holders often sell into strength rather than exit positions in panic.

On-chain data from Nansen supported that interpretation: the top 100 non-exchange Ethereum wallets increased their PEPE holdings by nearly 1% to 306.7 trillion tokens, while exchange balances fell 0.95% to 232.59 trillion — suggesting accumulation by long-term holders.

By the session’s close, PEPE had bounced off intraday lows to end at $0.000007152, continuing a pattern of higher lows that could indicate early-stage consolidation. Traders are now eyeing support between $0.000007090–$0.000007140, with resistance seen near $0.000007260–$0.000007270. A breakout above that zone could extend gains, while a breakdown below support may shift sentiment bearish.

Across the broader market, the CoinDesk 20 (CD20) index slipped 0.2%, while the CoinDesk Memecoin Index (CDMEME) advanced 1.6%, highlighting the sector’s resilience amid cautious macro sentiment.