A huge transaction on the Kraken exchange has sent the crypto community into a frenzy as a whale spent $16 million to buy PEPE Token . This is the largest single purchase in the history of the meme coin, fueling speculation of an upcoming surge in price. However, analysts warn that the current market picture is showing many unusual signals, which could be more of a “setup” than the start of a new growth cycle.
Whales “hold” 1.52 trillion PEPE
According to data from on-chain analytics platform Lookonchain , a newly created wallet recently made a massive purchase of over 1.52 trillion PEPE Token , worth nearly $16 million, directly on the Kraken exchange. This is one of the largest single transactions ever recorded for PEPE, causing an immediate stir in the crypto community. On social media platform X, user bike4sai suggested that this was most likely an institutional-scale purchase, rather than just a simple speculative move.
The news quickly spread at breakneck speed, leading to expectations that the deal could be the “catalyst” that would help PEPE return to the growth track. Notably, some technical analysts have pointed out that PEPE ’s chart is forming a “Falling Wedge” pattern – a technical structure often associated with the possibility of a strong bullish reversal. This further strengthens the belief of those who believe that PEPE could explode in the coming period.
Meme coin wave revived
The whales’ massive purchase of PEPE did not occur in a vacuum, but rather at a time when the meme coin market was witnessing a strong revival. Entering September, positive sentiment on social media platforms created a boost for this highly speculative asset class. Token like PEPE or Little PEPE quickly became the center of attention, as many investors bet on the possibility of a breakout, especially ahead of new launch events.
The heat was further fanned when on forums, many KOLs in the industry continuously launched bold price scenarios. Some more cautious views said that PEPE could completely increase 2-3 times if it maintained its current cash flow. However, there were also more extreme predictions, mentioning the possibility of 100x, a growth rate that would put PEPE on par with the top Capital projects in the market.
There is no denying that this wave of expectations is contributing to creating positive psychological momentum for the entire meme coin ecosystem. However, the level of reality of these “sky-high” predictions is still a big question mark, especially when the market has witnessed many booms and then rapid declines.
Abnormal signals
Despite the market heating up on the massive acquisition, data from third-party analytics platforms paints a less optimistic picture. Behind the temporary excitement, many core metrics suggest that PEPE ’s growth momentum is not really sustainable.
First of all, user activity is clearly declining. The number of active addresses and retail volume are both down, indicating that community interest is no longer as strong as it was in the previous period. This is important because a long-term rally is often based on a massive influx of retail investors, not just a few large-scale transactions.
In addition, smart money is retreating. Many institutional investors and other large wallets are selling Token, in contrast to the Kraken whales' buying. This reflects a lack of consensus in the Capital flow, with only a small group making positive moves while the rest are cautious or withdrawing.
More importantly, the market is reenacting a familiar risk pattern. In previous meme coin cycles, the scenario has often followed a formula: whales buy in large quantities, creating a psychological effect and attracting retail investors to “follow suit”, then suddenly sell off to take profits. Such fluctuations not only cause heavy losses for small investors but also destroy confidence in the sustainability of the market.
Therefore, experts warn that if retail money does not enter the market soon, PEPE 's ability to increase its price sustainably is very low. Instead of opening a real growth cycle, the market may just be preparing for a familiar pump & dump cycle, where unwary investors can easily become victims.
What scenario for PEPE?
The recent $16 million PEPE purchase has certainly helped the whale solidify its position in the market. However, the excessive publicity of the transaction has raised questions. In the professional investment community, huge purchases are often made quietly to avoid attracting attention, preserve strategies, and limit unintended psychological impacts. The transaction has become the focus of much discussion on social media, leading many observers to believe that this may not be a simple accumulation move.
This raises the big question: is this the start of a new PEPE bull run, or is it just a trap to attract retail investors before they are Dump ? Notably, on-chain data now shows that retail investor activity is declining. In this context, the risk of a familiar pump & dump scenario cannot be XEM .
There are two clear scenarios for PEPE. On the bright side, if the $16 million deal does indeed reflect the return of institutional Capital , PEPE could very well enter a new growth phase. With on-chain activity picking up, retail wallets increasing, and positive social media sentiment continuing, the Token price could double or even triple. Furthermore, the emerging “Falling Wedge” technical pattern could also Vai as a catalyst, supporting an explosive recovery.
On the negative side, if this is just a “shock wave” trick to create FOMO, the market will likely repeat the familiar cycle: whales quietly accumulate goods – prices are pushed up by the influx of small money – and then end with a massive sell-off. In this scenario, investors who are not careful and rush to “catch the top” will become victims, just like what happened many times in previous meme coin cycles.
At the time of writing, PEPE is trading around $0.000011, down slightly by 1% on the day but up by over 16% over the past week.
Ultimately, only time will tell. But the tumultuous history of meme coins has proven one thing: those who blindly follow the herd often pay a high price. Keeping a cool head, analyzing on-chain data, and weighing the risks before acting will always be important principles, especially in a market where whales can turn the tide with a single move.
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