Whale Accumulation Has Begun…Is This Memecoin Pepe's Real Rise This Time?

▲ Pepe (PEPE)/AI generated image ©

As whales move again, memecoin Pepe begins to rebound, drawing the market's attention.

According to investment media FXStreet on April 16 (local time), Pepe (PEPE) rose by approximately 8% and continues to trade above its 50-day exponential moving average. With expectations of a ceasefire agreement between the US and Iran easing overall market risk aversion, capital inflows into memecoins are resuming.

In the derivatives market, open interest surged. According to Coinglass data, PEPE futures open interest increased by 20% in 24 hours, reaching $228.67 million. This signifies new capital inflow and an expansion of retail investor positions, interpreted as reflecting short-term bullish expectations.

Positive changes are also detected in on-chain data. According to Santiment, wallets holding 100 million to 1 billion PEPE increased to 10.64 trillion PEPE, and wallets holding over 1 billion PEPE also expanded to 3.64 trillion PEPE. This is a sign that whales are accumulating again after the distribution phase, and is considered a factor supporting mid-to-long-term bullish expectations.

Technically, it is still in a decisive breakout zone. PEPE rebounded after breaking through its downtrend line, but is currently facing resistance at the 100-day moving average level of $0.00000411. The Relative Strength Index (RSI) is 62, indicating room for further upside, and the Moving Average Convergence Divergence (MACD) also remains in positive territory, supporting short-term upward momentum.

The future trend depends on whether the 100-day moving average is breached. If this level is decisively broken upwards, there is potential for further gains to the 200-day moving average level of $0.00000550; conversely, if the 50-day moving average at $0.00000364 is broken, downward pressure could intensify again. Market analysis suggests that while a short-term rebound is valid given the simultaneous whale accumulation and retail capital inflow, caution should also be exercised regarding increased volatility until major resistance levels are broken.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*