Memecoin PEPE slipped about 1% on Monday after a large holder moved 500 billion tokens—worth roughly $4.8 million—to Binance, fueling selling pressure.

The transfer extended a 40-day downtrend that has cost the trader an estimated $450,000. Still, PEPE showed resilience, rebounding from intraday lows near $0.00000938 to trade around $0.00000992. Prices moved within a 6% range, finding resistance near $0.00000983.

Blockchain data shows the whale still retains 1.5 trillion PEPE tokens valued at over $14 million. Trading activity was strong, with more than 3.26 trillion tokens exchanged during the session—volumes peaking as prices recovered, according to CoinDesk Research.

Buyers stepped in at support levels, driving a sharp rebound and suggesting continued confidence or opportunistic accumulation. However, resistance just below $0.00001 remains a barrier, keeping pressure on near-term price action.

On-chain data from Nansen shows PEPE whales added 1.46% to their holdings over the past month, supporting the view of accumulation.

Despite the pullback, PEPE outperformed its peers. The CoinDesk Memecoin Index (CDMEME) fell nearly 3% in the same 24-hour window, compared with PEPE’s smaller decline.