PEPE Bear Trap Theory Unfolds as Whales Absorb Selling Pressure

The memecoin sector is still showing textbook volatility, with its market cap up over 2% on the weekly chart and a 4% pullback on the 24-hour chart.

PEPE has rallied nearly 25% over four consecutive weeks, breaking above $0.000003, but has since dropped more than 5% in the past two weeks, retracing over 20% of its previous gains.

Despite the pullback, market sentiment around PEPE remains largely bullish, with bulls making their move by strategically accumulating during the dip ahead of the next leg higher.

A record 4.54 trillion PEPE tokens moved off exchanges in a single day, marking the memecoin's largest net exchange outflow since November 14, 2024.