Two large wallets simultaneously opened 10x leveraged long positions on PEPE, amassing a combined exposure of 924.7 million kPEPE worth approximately $3.37 million, according to on-chain data shared by Lookonchain. The trades occurred as PEPE traded around $0.00000368 on the daily PEPE/USDT chart, drawing fresh attention to the meme coin’s price action.
PEPE remains in a weak daily structure, still trading below the critical Fibonacci resistance at $0.00000491. A daily close above that level would improve the technical outlook, but until then the broader chart stays neutral to bearish. Immediate support sits between $0.0000033 and $0.0000035; a break below could push the token toward $0.0000030. On the upside, a successful breakout above $0.00000491 could shift focus toward the 0.786 Fibonacci zone at $0.00000656, with further resistance near $0.00000785 and $0.00000876.
Technical indicators reflect cautious sentiment. The MACD hovers near the zero line with a small histogram, signaling weak momentum. The RSI stands at 39.66, below its moving average of 53.36, indicating that sellers still hold some control. A bullish MACD cross and an RSI push above 50–60 would provide stronger confirmation of a trend reversal.
While the whale longs add speculative interest, they do not guarantee a reversal. Traders are closely monitoring the $0.00000491 resistance as the decisive breakout level.
