Whale accumulates PEPE and rekindles interest in the market
Analysts see optimistic fractal and RSI in oversold territory
Critical support may drive possible reaction in the coming weeks
The memecoin market is gaining momentum again, and PEPE has returned to the center of attention after a whale accumulated nearly 9 million US$ in just a few days. This flow draws attention because it emerges exactly at the moment when the asset tests a very sensitive support area.
At the same time, analysts highlight a fractal similar to that of XRP in 2017 and a weekly RSI in the oversold zone, factors that increase discussions about a possible rebound. Thus, many traders are revising scenarios and assessing whether PEPE can initiate a broader recovery in the coming weeks.
Whale increases purchases and rekindles market interest.
In recent days, large PEPE holders have intensified their purchases, attracting the attention of on-chain analysts. A single wallet has increased its purchases since November 6, totaling nearly $9 million in tokens. The transactions occurred in sequence, with several sends above $500,000, all coming from wallets linked to Coinbase.
The balance chart indicates a steady increase in reserves since the beginning of the month, something that many investors see as a relevant signal. Still, the data only shows what the address has purchased, not what it intends to do afterward. Even so, the market reacts in different ways when large wallets accumulate positions without being exposed to spikes in attention or extreme volatility.
Meanwhile, the analyst known as @PepeEthWhale reinforces the comparison between PEPE and the behavior of XRP in 2017, highlighting that the structure of the token seems to repeat an old fractal. He says that the price may “have a rise next week” if the token regains space within a large technical triangle. The trader also personally projects a chance for PEPE to seek a new all-time high by December.
Analysts study critical support and oversold RSI.
Another expert, @Lamatrade1, shared a reading that reinforces the technical debate. He points out that PEPE is approaching a long-term support zone, described as a possible “dead cat bounce.” On the weekly chart, there is a descending resistance band, a buying area, and a lower support aligned with important historical levels.
Additionally, the weekly RSI has entered oversold territory, something that many traders interpret as a signal of possible reaction. This indicator does not confirm reversals, but tends to mark moments when the market assesses short-term recoveries within broader trends.
The analysis combines price behavior, resistance bands, and support zones, offering a structural reading of the token. However, like the mentioned fractals, these interpretations remain possible scenarios and not guarantees of direction.
With whales accumulating and analysts divided, the market is now watching whether PEPE, one of the promising memecoins of the moment, will be able to turn this combination of factors into a concrete reaction in the coming weeks.
