Pepe Coin Whale Moves Over $27M As Analyst Predicts Breakout

Key Insights:

• Whale moves 2T PEPE coin ($27.8M) from Bybit to unknown wallet, hinting at possible accumulation.
• PEPE forms cup-and-handle pattern with $0.0000148 breakout target near $0.0000238.
• PEPE open interest nears $600M with rising volume and positive funding rates across exchanges.

A massive transfer of Pepe Coin (PEPE) worth more than $27 million has drawn attention from traders and market analysts. Blockchain monitoring service Whale Alert reported on May 27, that 2 trillion PEPE tokens were moved from the crypto exchange Bybit to an unknown wallet. This large movement occurred during a time of increased activity and price fluctuation in the broader cryptocurrency market.

The shift in tokens was sudden which prompted discussions on how whales could be accumulating. The timing of the transfer is also particularly convenient as technical analysts hint at Pepe Coin poised for a price breakout with recent market trends and increased trading interest.

Pepe Coin Whale Activity Suggests Accumulation Strategy

According to onchain data, a number of large PEPE transfers have occurred in recent days. The biggest was the 2 trillion PEPE token dump from Bybit worth $27,887,373. Published on X by Whale Alert, it shows the funds were withdrawn and sent to an unknown blockchain wallet with no known links to an exchange.

This was not the only large transaction by the Pepe whales. Over 11.75 trillion PEPE tokens were transferred in the past 24 hours per reports from Lookonchain. According to data, there’s large scale buying interest from high-volume players, as is usual with whale pumping up for long term holding or possibly a price increase.

Such an activity from major holder often signifies the market confidence. Though the source of the transferred PEPE is mysterious, traders are watching these moves. Crypto Zeus, a crypto analyst, commented that, “This shows consistent support at lower levels and whale inflows indicates smart money positioning early.”

PEPE Price Technical Chart Patterns Show Breakout Potential

At press time, the PEPE chart is seen going upwards with the token trading at $0.00001413. There was support strength at those previous levels of $0.000012 which has caused the price to recover like that. Technical indicators are signaling the formation of a cup-and-handle pattern which often precedes a bullish breakout.

According to market analysts, PEPE price is picking up speed towards the key resistance level at $0.0000148. A move above this price could be a clean one and could take us to as much as 60% gains, possibly heading our next price target near $0.0000238. Moreover, a golden cross further increases the odds of an upward move.

Currently, PEPE price is trading above its 200 Day Exponential Moving Average (EMA) which serves as a supporting level in a trending market. According to traders, the token is also approaching the 61.8% Fibonacci retracement level which is often watched as a potential of a trend continuation.

Rising Open Interest and Market Participation Support Rally Case

PEPE’s open interest in derivatives markets has surged to nearly $600 million, reflecting growing activity among leveraged traders. Positive funding rates and increasing trading volume suggest that more traders are entering long positions. This change in sentiment supports the bullish outlook in the short term.

At the same time, retail traders are showing renewed interest, with PEPE trending across several social media platforms. Search engine trends and engagement levels on crypto discussion forums have also increased.

One trader, James Wynn, reportedly opened a 10x leveraged long position on PEPE and Bitcoin on May 26. The position had an unrealized profit of $130,000 before he later closed part of it at a $4.4 million loss to manage risk. The trade drew attention due to its size and its timing, aligning with PEPE’s recent price moves.

Broader Market Conditions Support Short-Term Upside

Bitcoin’s steady performance has helped altcoins like PEPE maintain positive momentum. BTC was trading at $109,693 at the time of writing, after gaining over 1% in the past day.

Bitcoin’s strength often supports speculative altcoins and meme tokens, especially when liquidity improves in the crypto market.

Meanwhile, global macroeconomic conditions have also eased. A recent announcement by Donald Trump delaying U.S. tariffs on European imports has reduced market anxiety. This development has helped create a short-term favorable environment for risk assets, including meme coins like PEPE.

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