Pepe price rallies 25% as whale demand and futures interest surge

Key takeaways

• PEPE recorded a 25% weekly increase, fueled by a 22% rally over a two-day span.
• Large-scale transactions peaked on Thursday with seven transfers exceeding $1 million each, marking the highest activity since March 16.
• Since August 12, exchange reserves dropped by 1.45 trillion PEPE, while leading non-exchange wallets accumulated an additional 3.54 trillion tokens.

PEPE maintained its upward trajectory on Friday, building on a two-day rally that yielded a combined 22% gain.

This push brings the meme coin’s weekly performance to a roughly 25% gain. This surge is backed by strong whale accumulation, a reduction in exchange-held supply, and accelerating speculative interest.

Having reclaimed crucial technical thresholds, the asset is now positioned to potentially challenge its 200-day exponential moving average (EMA) at $0.00000363.

Whale activity surges to multi-month highs

Large-scale investors are showing renewed interest in the frog-themed token as its price rebounds. According to data from Santiment, Thursday saw seven PEPE transactions valued at over $1 million each—the highest single-day count since March 16.

While massive transfers can signal either buying or selling pressure, on-chain metrics point toward steady accumulation as exchange balances shrink.

Specifically, PEPE reserves on centralized exchanges fell from 82.75 trillion on August 12 to 81.30 trillion. This reduction of 1.45 trillion tokens limits the immediate sell-side liquidity on trading platforms.

Concurrently, the top non-exchange wallet addresses grew their collective holdings from 80.50 trillion to 84.04 trillion PEPE over the same timeframe—an inflow of 3.54 trillion tokens that highlights robust demand from major stakeholders.

When whales accumulate tokens near local price bottoms, it often signals confidence in an impending recovery. If broader market conditions remain supportive, this combination of whale buying and declining exchange supply could drive prices higher.

The derivatives sector is also experiencing a surge in demand. CoinGlass data reveals that PEPE futures Open Interest (OI) jumped 19.6% in a single day, climbing from $209 million to a three-month high of $250 million. This $41 million increase shows that market participants are actively entering new positions or scaling up their leverage.

Furthermore, PEPE’s Open Interest-weighted funding rate is currently positive at 0.0095%. This indicates that long traders are paying short sellers, reflecting a prevailing bullish sentiment.

However, high open interest combined with positive funding rates can increase the risk of rapid liquidations if the market suddenly turns. Meme coins are notoriously prone to sharp corrections when speculative leverage becomes overextended.

PEPE sets sights on the 200-day EMA

PEPE’s short-term technical outlook has strengthened following its breakout above the 50-day EMA ($0.00000283) and the 100-day EMA ($0.00000300).

The token also surpassed its June 15 swing high of $0.00000314, clearing a key resistance level in the process.

The next significant test lies at the 200-day EMA, which is currently hovering around $0.00000363. Because PEPE is still trading below this long-term trendline, the macro structure cannot yet be classified as fully bullish.

A decisive daily close above the $0.00000363 mark would validate the recovery trend, potentially paving the way for a run toward the May 10 peak of $0.00000459.

Supporting this upward momentum, the Moving Average Convergence Divergence (MACD) line has crossed above its signal line and is climbing deeper into positive territory. Additionally, a bullish histogram has formed above the zero line, confirming that buying pressure is building.

Conversely, if PEPE fails to clear the 200-day EMA, traders might begin taking profits after this week’s rapid ascent.

In the event of a pullback, the 100-day EMA ($0.00000300) and the 50-day EMA ($0.00000283) should act as initial safety nets. However, falling below these levels would invalidate the current bullish structure and potentially push the price back down to test the July 8 low of $0.00000255.