PEPE declined 5.49% to $0.00001086 amidst a broader cryptocurrency market sell-off, while large investors acquired trillions of the meme token, signaling conflicting market pressures and potential long-term positioning.

Executive Summary

PEPE, a meme-inspired cryptocurrency, experienced a 5.49% price decline in the last 24 hours, falling to $0.00001086. This movement occurred during a wider crypto market drawdown, with the CoinDesk 20 Index losing 1.8% and the CoinDesk Memecoin Index falling nearly 5%. Despite the short-term price pressure, on-chain data indicates significant accumulation by large investors, known as whales, suggesting a strategic long-term outlook amidst immediate market uncertainty.

The Event in Detail

The price of PEPE saw a 5.49% reduction, reaching a low of $0.0000107, with a 24-hour trading volume of $895,048,750. This downtrend mirrors broader market sentiment, where top meme tokens traded under pressure. The CoinDesk Memecoin Index dropped 6.6% in the past 24 hours, exceeding the 2.3% decline in the broader market's CoinDesk 20 Index. This wider market weakness was partly attributed to events such as a $2.4 million flash loan attack on Shibarium, Shiba Inu’s layer-2 network, which dented investor confidence in the sector. Despite the selling pressure, trading volumes for PEPE surged into the trillions of tokens.

Market Implications

The recent PEPE price action presents a dichotomy of short-term selling pressure and long-term accumulation by significant holders. Nansen data reveals that the top 100 non-exchange PEPE holders on the Ethereum network increased their holdings by 1.38% over the past week. Furthermore, whale holdings of PEPE increased by 12% in a month, reaching 8.95 trillion tokens, their highest level in over a year. Specific on-chain transactions highlight this trend, with one whale address spending $2.5 million in USDT to acquire 213.46 billion PEPE and another spending $1.018 million in USDC and USDT for 89.73 billion PEPE on September 13, 2025. These buys collectively represent $3.518 million in stablecoin inflows for 303.19 billion PEPE, indicating notable on-chain accumulation. Historically, such whale accumulations have preceded significant price movements, with past instances showing 20-50% gains within days of these large purchases. The derivatives market also reflects underlying confidence, with open interest in PEPE futures contracts reaching $720 million over seven consecutive days, supported by sustained positive funding rates.

Broader Context

The performance of PEPE is influenced by the broader cryptocurrency market, including the Ethereum network. Ethereum’s price surged to nearly $4,100, driven by institutional interest and the approval of BlackRock’s ETH ETF, which attracted over $10 billion in inflows. This institutional backing has reinforced Ethereum’s position, indirectly benefiting tokens like PEPE. Technically, PEPE has shown signs of resilience, breaking out of a descending channel and forming a double bottom near the $0.0000090 level. Analysts suggest that if the token holds above $0.0000130, its price could rise toward $0.0000160, with subsequent targets at $0.0000220 and potentially $0.00003. Additionally, a decrease in the netflow of PEPE by $4.7 million on September 13, indicating significant exchange outflows, suggests reduced selling pressure and potential for price appreciation due to lower liquidity. The dynamic of whale accumulation during market downturns highlights a strategy of positioning for potential future rallies, a pattern observed across the volatile memecoin sector where social media hype and broader market trends play significant roles.