Pepe price nears big move as whales buy 650 billion coins

Whales Drive Massive Pepe Accumulation

Pepe, the second-largest meme coin on the Ethereum network, is showing renewed momentum after a sharp rebound from recent lows. The token climbed to $0.000015 on Saturday, Aug. 23, recovering strongly from this week’s trough of $0.00000985 as large holders increased their exposure.

On-chain data: 650 billion coins added

Blockchain analytics platform Nansen reveals that whale wallets have boosted their Pepe holdings by roughly 650 billion tokens since July 23, taking their total to 8.79 trillion coins. The top 100 Pepe holders also increased positions to about 306.84 trillion tokens, up from 300 trillion last month. This accumulation coincides with a multi-month low in exchange inventories—now around 253.40 trillion Pepe—indicating diminished sell-side liquidity and stronger investor demand.

Funding Rates and Market Sentiment

Funding rate metrics for Pepe’s perpetual futures have remained in the green this month. In the perpetual futures market, a positive (green) weighted funding rate means longs are paying shorts—evidence that bulls expect further gains. For traders monitoring perpetuals, sustained positive funding suggests a bullish tilt among derivative market participants.

Why Ethereum’s rally matters

Pepe’s prospects are also tied to Ethereum’s broader price action. As ETH approaches fresh highs, tokens built on the Ethereum ecosystem often benefit from renewed investor interest and on-chain activity. A strong ETH performance can lift liquidity and market confidence across high-quality ERC-20 tokens, including meme assets like Pepe.

Technical Outlook: Double-Bottom and Symmetrical Triangle

On the daily chart, Pepe formed a textbook bullish double-bottom at $0.00000985 and is approaching its neckline near $0.00001265. This reversal pattern, aligned with a converging symmetrical triangle, suggests an increased probability of a breakout. The triangle’s widest span measures roughly 52%; applying that range from a potential breakout point yields a target near $0.00001890 — about 65% above current prices.

Risk and timing

While on-chain accumulation, positive funding rates, and technical patterns favor a bullish scenario, traders should remain mindful of volatility inherent to meme coins. Market-moving catalysts—ETH price swings, large sell orders, or macro headlines—can quickly alter momentum. Use risk management and position sizing when trading Pepe and other speculative tokens.

Overall, the combination of whale buying, falling exchange balances, bullish funding behavior, and constructive chart formations suggests Pepe could be setting up for a meaningful move in the coming days to weeks.