PEPE Defies $15M Robinhood Dump—Here’s Why the Memecoin Still Looks Bullish

Robinhood traders just offloaded $15 million worth of PEPE—yet the frog-themed memecoin keeps hopping higher. What gives?

Market mechanics vs. meme magic: While institutional platforms see profit-taking, decentralized exchanges and retail pockets keep stacking PEPE. Liquidity shifts, not sentiment.

The cynical take: Wall Street’s favorite app just made its usual knee-jerk move—selling the dip while degens buy it. Some things never change.

Whale offload without buyback

A wallet linked to the U.S-based cryptocurrency exchange Robinhood saw notable liquidity outflows over the last 24 hours.

This entity sold approximately $15 million worth of Pepe into the market. Typically, when large entities sell off, they follow it with some level of buyback within the same period. However, that hasn’t been the case here.

Source: Arkham

Despite the sell-off, however, Robinhood remains the second-largest holder of PEPE, controlling 3.67% of the supply – Worth $209.9 million.

Interestingly, even after this sell-off, PEPE has held on to its price, with market analysis suggesting the token could continue to climb in the coming days.

PEPE’s outlook remains bullish

AMBCrypto’s short and long-term outlook on the memecoin revealed that the asset remains bullish on both timeframes.

Short-term analysis using the 4-hour chart revealed that PEPE has been trading within a symmetrical triangle pattern, marked by converging support and resistance levels.

Source: TradingView

This bullish formation could push PEPE up by 12.24%, potentially reaching $0.00001541.

A broader outlook using the 1-day chart showed PEPE trading within a cup-and-handle pattern.

Like the symmetrical triangle, this pattern is also a bullish precursor. However, in this case, the price must breach the black resistance line at $0.00001483.

Source: TradingView

If it does, PEPE could rally by 91% to $0.00002836 – A level last seen in December 2024.

The key question now is whether the asset can gather enough momentum to break through that resistance.

Is market momentum building?

Well, at the time of writing, the momentum appeared to be growing across both the spot and derivatives markets.

In the spot market, buying interest has been gradually building up again, with $335,000 worth of PEPE purchased so far.

Source: Coinglass

In the derivatives market, the OI-weighted funding rate stood at 0.0127%, confirming the presence of bullish sentiment.

If momentum continues to climb across both market segments, PEPE could see a notable rally. By doing so, it could hit its short-term target and approach its long-term goal.