PEPE Surges 14% as Whale Accumulation Accelerates, Exchange Balances Shrink

PEPE posted a sharp 14% gain over the past 24 hours, propelled by intensified whale accumulation and a broad crypto market rally that saw Bitcoin (BTC) climb past $118,000.

The memecoin jumped from $0.000011141 to a high of $0.000012812, as speculative energy returned to meme tokens amid wider risk-on sentiment. The CoinDesk 20 Index (CD20) advanced 7.3%, while the CoinDesk Memecoin Index (CDMEME) surged 11.3% over the same period.

On-chain data from Nansen confirmed that large holders continue to scoop up PEPE. The top 100 wallets increased their combined holdings by 1% in the past 24 hours, pushing the total to 304.1 trillion tokens, while exchange balances fell further — a sign of accumulating pressure.

Zooming out, the top 100 addresses have increased their PEPE positions by 2.3% over the past month, as exchange-held supply declined 2.17%, now sitting at 252.2 trillion tokens.

From a technical standpoint, momentum appears intact. PEPE traded within an 18% intraday range, moving between $0.000009823 and $0.000013068. A key resistance zone emerged at $0.000012482, where price faced rejection on high volume. However, strong support was observed at $0.000011013, with dip-buyers stepping in aggressively.

The combination of tightening supply, whale accumulation, and renewed interest across meme assets suggests further upside may be on the table — especially if Bitcoin maintains its bullish trajectory.