Pepe Coin sees sharp gain but weak confirmation
Pepe Coin climbed about 14 percent in the past day, marking one of the stronger moves among memecoins during the session. Despite the jump, the token remains well below monthly and quarterly levels, keeping the rebound inside a broader downtrend.
On-chain data shows the rally did not attract support from large holders. Whale wallets and the top 100 addresses did not increase their positions. Some outflows suggested profit-taking as price moved higher. Institutional groups were also inactive, indicating limited conviction behind the move.
Retail buying drives the move
Most accumulation came from smaller retail wallets, according to exchange flow metrics. Large holders appeared to use the price strength to trim exposure, creating a divergence between retail enthusiasm and whale positioning.
Derivatives data echoed this trend. Whale traders reduced long positions, and top traders scaled back significantly during the price advance. Smart-money accounts remain net bearish, though some shifted slightly toward long positions.
Technical signals show hidden bearish pressure
Chart analysis revealed a hidden bearish divergence between late November and early December: price formed a lower high while the RSI formed a higher high. This pattern typically suggests continuation of the prevailing downtrend once short-term strength fades.
$PEPE just woke up crazy. Dropped to 0.00000395 like it was dead, then boom — full green sprint to 0.00000473. Buyers hitting hard. Watch that 0.00000480 wick. Above 0.00000462–472 = momentum alive. Slip back = cooldown. Chart saying: don’t blink bro. pic.twitter.com/LkycWw0VnW
— Mark Selby (@imMarkselby440) December 3, 2025
Analysts also noted the possibility of a developing head-and-shoulders pattern. Current trading volume has not confirmed a reversal, and the recent rally may be forming the right shoulder. Without stronger buying pressure, the setup leans bearish.
Key levels to watch
For PEPE to stabilize, it must hold nearby support levels. A confirmed reversal would require a break above resistance roughly 15 percent higher. Failure to maintain support could shift focus to the next major zone below, potentially erasing recent gains.
The disconnect between retail activity, whale behavior, and technical indicators suggests the latest rally may struggle to sustain momentum without broader market participation.
