Pepe Token Poised for Potential Rally Amid Declining Exchange Reserves and Increased Whale Activity

Market data suggests PEPE could be on the verge of a significant price movement as exchange balances shrink and large holders accumulate. The memecoin’s supply on trading platforms has reached its lowest level in months while whale wallets continue expanding their positions, creating a classic supply squeeze scenario. Technical indicators show strengthening momentum as the token tests key resistance levels, with some analysts predicting a breakout if current accumulation trends persist. This comes amid renewed interest in altcoin markets as Bitcoin dominance shows signs of weakening.

Further data shows that whales are continuing to accumulate the Pepe coin. The supply held by top addresses has begun to recover. These whales have accumulated 172 trillion coins, up from 131 trillion tokens.

Pepe price technical analysis

The daily chart shows that the Pepe price bottomed at $0.000005860, where it failed to move below several times since August last year. It has formed a small double-bottom pattern at the same level.

Pepe has also formed a falling wedge pattern, which is characterized by two descending and converging trendlines. Oscillators like the MACD and the Awesome Oscillator have formed a bullish divergence pattern.

Therefore, the token will likely bounce back, as bulls target the psychological point at $0.000010, up by 35% above the current level.