Whale Dumps 2 Trillion PEPE Tokens from Bybit – Time to Panic or Buy the Dip?

A crypto whale just made waves by yanking 2 trillion PEPE tokens off Bybit—enough to make retail traders sweat. Is this a bearish signal or just another rich player shuffling deck chairs on the Titanic?

Market reactions: PEPE’s price wobbled post-move, because nothing says ’healthy market’ like a single entity moving the needle. Meanwhile, degens on Crypto Twitter are split between ’fire sale’ and ’bull trap.’

Pro tip: Watch the order books. If this was a cold wallet transfer, chill. If it hits another exchange? Brace for impact—or another ’buy opportunity’ (Wall Street translation: ’greater fool theory in action’).

Closing thought: In crypto, whales don’t just swim—they tsunami. And as always, the little fish get to choose between FOMO and getting rinsed.

Retail interest on the rise as on-chain address activity surges

Altcoin’s network data revealed growing activity among smaller investors. In fact, over the past 7 days alone, new addresses surged by 17.92% while active addresses ROSE by 8.05%. 

Such an uptick in participation hinted at increasing retail confidence and broadening user adoption. 

Although zero-balance addresses also saw a 1.64% hike, it was modest compared to the overall growth. Therefore, the net increase in address activity reflected renewed market enthusiasm. 

In light of the aforementioned whale transaction, it can be argued that both institutional and retail participants have been showing interest in PEPE’s ongoing market performance.

Source: IntoTheBlock

Mid-size to large transactions on the up…

Transaction size analysis highlighted a broad-based uptick across all tiers, with especially sharp growth in mid-to-large categories. 

Transactions in the $10k–$100k and $100k–$1M ranges increased by 138.92% and 160.16%, respectively. Additionally, $1M–$10M transactions soared by a staggering 2300%, reinforcing the presence of whales and high-conviction players.

Unlike retail spikes, large-volume activity tends to reflect informed positions – A sign that experienced players may be anticipating further upside in price action.

Source: IntoTheBlock

Liquidation trends show short positions are being squeezed more aggressively

At the time of writing, the derivatives landscape seemed to favor the market’s bulls. Data from 27 May indicated $1.02 million in short liquidations versus just $350k in long liquidations. 

This imbalance may be a sign of aggressive short squeezing. Especially as bears are forced out of their positions due to upward price moves. 

With shorts consistently losing ground, the market may be setting up for a volatility spike if upward momentum continues. 

Despite these liquidations though, total Open Interest declined by 9.76% to $565.72 million. This drop alluded to traders’ caution or profit-taking, rather than fresh long exposure. 

While such a decline may seem bearish, it can also reset the market and eliminate excessive leverage, laying the foundation for a healthier rally.

Source: Coinglass

PEPE consolidates near key Fib levels with strong bullish directional strength

PEPE, at the time of writing, was trading NEAR $0.00001397 and consolidating above the 0.382 Fibonacci retracement level ($0.00001352). 

This area has been acting as a near-term support. On the directional movement index (DMI), the ADX had a reading of above 45 – A strong trend. The +DI line was also above the -DI line, reinforcing bullish control. 

With resistance now sitting at the 0.0 Fib level ($0.00001541), a breakout from this range could trigger the next leg up. As long as the support holds, the bulls will technically remain in command.

Source: TradingView

Can PEPE bulls flip $0.000014 into support?

At press time, PEPE bulls appeared to be well-positioned to flip the $0.000014-level into support and push higher. 

In fact, the confluence of whale accumulation, rising transaction volumes, strong DMI trend strength, and aggressive short liquidations favored upside continuation too. 

Furthermore, consolidation above the 0.382 Fib level WOULD lend technical support to this thesis. While the resistance near $0.00001541 could cap the price briefly, clearing this threshold would likely trigger a wave of short stops – Enabling PEPE to chart a fresh local high.