Whale Activity Ignites PEPE Rally as Meme Coin Breaks Resistance

PEPE's recent price surge has been driven by renewed whale activity in the market. The meme coin, inspired by the Frog internet meme, has seen a significant increase in trading activity after whales began buying large quantities at a discount following its sharp price drop in August.

According to Whale Factor, the data shows that PEPE has surged 42.7% in the last seven days, breaking through major resistance levels. The asset's price dropped to $0.00000320 on August 24 but has since recovered, aligning with the broader crypto market and attracting enthusiasm from retail traders.

Whales have been taking advantage of the dip to accumulate tokens in large numbers, creating FOMO (fear of missing out) among retail investors who are entering the market. Since September 16, PEPE has been in an uptrend, rising from a low of $0.00000333 and reaching $0.0000046 by September 22.

The current development in the Pepe market is interesting as whales buying large amounts not only drive the price up but also force weak hands to panic-buy. The asset is laying the foundation for its next rally, with on-chain analysis showing renewed whale accumulation and a possible massive token buyback initiative being discussed across social media.