In a surprising twist to the cryptocurrency saga, PEPE, the memecoin that’s captured the imagination of many, has seen its value leap over 5% in the past 24 hours. This surge has been propelled by a high-volume breakout, pushing the token’s price beyond a previously stubborn resistance level. CoinDesk Research’s technical analysis reveals a promising pattern of higher lows, hinting at a sustained buying interest.
Whale Activity and Market Dynamics
Here’s the catch: while PEPE’s rally is technically robust, the broader market picture is anything but simple. Recent data from CoinGlass highlights a dramatic 73% drop in trading volume across PEPE derivatives since mid-July. Yet, it’s not all gloom. There’s a fascinating development unfolding—large investors, or “whales,” appear to be quietly amassing PEPE. Nansen reports that the top 100 Ethereum addresses have upped their PEPE holdings by 2.36% over the last month, while exchange reserves have dwindled by 2.4%. This mirrors similar trends seen in other cryptocurrencies, as detailed in 3 Altcoins Crypto Whales Are Buying After Announcement of “Project Crypto”.
“Such accumulation patterns often signal a bullish outlook among big players, even when broader market activity softens,” explains crypto analyst Jenna Lee. This could suggest that the current price movement isn’t just a flash in the pan but might have more staying power than skeptics anticipate.
Rate-Cut Bets Fueling Risk Asset Rally
What’s driving this renewed interest? It seems tied to a broader rally in risk assets, fueled by expectations that the Federal Reserve will cut interest rates by 25 basis points come September. The CME’s FedWatch tool places a 93% probability on this rate cut, while Polymarket traders are slightly more cautious at 79%.
“This environment is ripe for speculative assets,” says Mark Samuels, a strategist at Digital Asset Partners. “When traditional markets expect rate cuts, the appetite for higher-risk investments like PEPE tends to grow.” It appears investors are positioning themselves for a period of lower rates, which historically boosts riskier markets. This behavior is reminiscent of other whale activities during market fluctuations, such as the Bitfinex Whale Buys 300 $BTC Per Day During Crypto Market Crash.
Historical Context and Future Implications
PEPE’s story isn’t just about numbers. Its rise reflects the shifting sentiments in the crypto world—where memes meet market forces. Remember the Dogecoin rally of 2021? It taught us that the crypto market’s pulse can beat in unexpected rhythms, driven by community enthusiasm and broader economic trends.
Yet, the road ahead is fraught with uncertainties. Will the Federal Reserve indeed cut rates, and if so, will that sustain the current rally in risk assets? Can PEPE maintain its upward trajectory amid volatile trading volumes?
As we look toward the future, one thing seems clear: the interplay between macroeconomic factors and crypto market dynamics will continue to shape PEPE’s journey. Whether this is a brief flirtation or the start of a new chapter remains an open question—one that traders and analysts will be watching with keen interest in the months to come.
Source
This article is based on: PEPE Jumps 5% as Rate-Cut Bets and Whale Accumulation Drive Risk Asset Rally
Further Reading
Deepen your understanding with these related articles:
- Whale Who Bet Against XRP Liquidated, Dogecoin Futures on Coinbase Spike 24%, Bitcoin Mining Difficulty Hits ATH – Crypto News Digest
- What Did Crypto Whales Buy and Sell During the Weekend?
- Forget New Tokens—Why Murad Mahmudov is Betting on Older Meme Coins?
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
