A big PEPE holder just stepped back into the game, and it’s stirred up fresh talk across the meme coin crowd. After a strong rebound in May, PEPE price is back in the spotlight with talk of a possible run toward a new all-time high. Trading volume is soaring, open interest is climbing, and all signs point to renewed interest across the market.
According to a post from Wise Crypto on X, a dormant whale pulled 2.2 trillion PEPE tokens, worth about $29 million, off Binance in just 24 hours. That single move cut the exchange’s PEPE reserves by 2% and was followed by a 10% spike in price. The same post noted that short sellers took a hit, losing around $2 million, while futures open interest ballooned to $500 million.
🚨 Dormant PEPE whale awakens! After 2 years, a mega-holder just pulled 2.2T $PEPE ($29M) off Binance in 24 hrs—slashing reserves by 2%. Price soared 10%, open interest hit $500M, & shorters lost $2M. Is this the start of a new $PEPE bull run? 🔥 #PEPE pic.twitter.com/NP9zv99wE6
— Wise Crypto (@WiseCrypto_) May 19, 2025
Pulling that much off an exchange usually hints at accumulation, investors taking tokens off trading platforms to hold them. Whether this whale plans to hold for the long haul or is prepping for another big move isn’t clear, but the impact was felt fast. Traders are now watching closely to see if this marks the start of a bigger PEPE price breakout.
Pepe Chart Structure Shows Bullish Breakout Holding Above Support
PEPE daily chart shows a breakout from a March–April accumulation zone near $0.00000500. The token rallied sharply in early May, reaching as high as $0.00001540 before entering a consolidation. At press time, PEPE is trading at $0.00001281, with daily volume rising by over 165%.
Technical analysis reveals a strong base formation, with a breakout zone around $0.00001100 currently acting as support. The next key resistance levels are seen near $0.00001800 and the previous all-time high of $0.00002847. A continuation toward a projected target of $0.00003155 would mark a 105% gain from the breakout area.
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Market Eyes ATH as Community Speculates on Summer Rally
Market analyst Gerlaenco posted on X, asking whether the PEPE price will reach a new all-time high before summer. The tweet reflects growing community interest, especially as meme coins regain momentum alongside broader market recovery. Seasonal trends and speculative behavior often influence this segment of the crypto market, creating sharp price movements over short timeframes.
While the potential for a further rally exists, continuation depends on PEPE maintaining its breakout structure. Price stability above support could increase the likelihood of retesting previous highs as volume and trader participation continue rising.
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