Pepe news

Altcoin traders spot early exchange accumulation as a potential lead‑up to rallies, though timing remains uncertain. PEPE’s exchange supply fell to a yearly low of 93.8 trillion in September, volume rose to $6 billion+, yet its price stays in a symmetrical triangle. JASMY’s reserves fell to 10.1 billion with holder count rising, but the token trades under $0.02, and analysts project a breakout to $0.30 after a narrow range. SAND’s reserves slid to near‑yearly lows, with 850 million tokens withdrawn in the quarter, and the launch of Alpha Season 6 with a 250,000 SAND prize pool may trigger a rally. All three coins exhibit tight triangle formations, signaling potential breakouts, while these patterns suggest improved altcoin sentiment and that investors are already positioning for a next move.

Over the week the global crypto market cap rose 3%, a trend that spilled into Nigerian trading where portal-to-bitcoin (PTB), CREPE, and PEPE dominated attention. PTB, launched on September 3, has surged nearly 25% in seven days and gained 27% intraday, but a 32% decline in daily volume has raised concerns of a pullback that could push the price below $0.0476. CREPE, a BNB‑chain meme coin trading at $0.00001011, posted 3% gains and a bullish Elder‑Ray index reading, suggesting a possible break of the $0.00001167 resistance but profit‑taking could bring it back to $0.0000055. PEPE, the Solana‑based meme coin priced at $0.00001060 above its 20‑day EMA, is poised to break $0.00001070 and target $0.00001269, though weakening demand could send it back to $0.0000083. These tokens illustrate the speculative nature of the Nigerian altcoin market, with momentum hinging on volume and sentiment indicators and forthcoming price action.

Altcoin market capitalization, excluding Bitcoin and Ethereum, surpassed $1.1 trillion in the second week of August, signaling a near‑all‑time high that would need only a 10% bump to break records. During this period, several meme tokens saw pronounced drops in exchange reserves, a trend investors interpret as long‑term accumulation. PEPE’s reserves fell to a one‑year low of 97 million on August 10 from 215 million a year earlier, while its holder count rose 25 percent year‑to‑date. SPX6900 plunged from a July peak of $2.28 to $1.56, with exchange supply falling 53 percent to 43.7 million by mid‑August. FLOKI’s reserves hit a yearly low of 947 billion after its Robinhood listing, hinting at a broader retail reach despite the decline.

PEPE, one of the largest meme coins by market cap, surged nearly 10 % in the last 24 hours, outpacing peers such as Dogecoin, Shiba Inu and Bonk Inu. The rally follows an Ethereum (ETH) surge driven by record ETF inflows, with BlackRock’s ETHA topping $1 billion in net purchases, signaling a broader institutional tilt toward ETH. As an Ethereum‑based token, PEPE’s year‑to‑date correlation with ETH sits at 0.76, indicating that continued ETH strength could fuel a PEPE breakout. Despite a 50 % price drop since January, PEPE’s holder base has expanded 25 % this year and a symmetrical triangle technical pattern has formed, hinting at potential upside. However, the top 10 wallets hold over 37 % of the supply, raising concerns about manipulation and sudden sell‑offs. Analysts note that institutional momentum may set the stage for a sharp advance, but traders should vigilantly monitor whale activity and market sentiment.

Jaggedsoft, the developer of the Binance API, announced plans to sue Matt Furie and ChainSaw after a $1 million North Korean hack hit their Pepe NFT project. The suit alleges Furie and ChainSaw’s negligence let the breach happen and that the platform failed to reimburse investors or disclose risks. ChainSaw raised over $25 million in four years before quietly ignoring warnings and hiding the attack, sparking community backlash. Jaggedsoft, holding the largest collection of Furie’s NFTs, argues consumer‑protection laws apply and that no legal action has yet been filed. The case underlines security gaps in Web3, where hacks can trigger reputational damage and legal retaliation.

Crypto analyst BeInCrypto highlights three altcoins—Pepe (PEPE), Convex Finance (CVX), and Tezos (XTZ)—that show strong accumulation signals amid an easing market. PEPE trades at $0.00001257 above its $0.00001216 support; a bounce could retest $0.00001389, while a drop past $0.00001152 could spark further downside. CVX, up 21% in the past 24 hours, sits at $5.85 near a $5.88 resistance; the bullish Parabolic SAR suggests a push above $6.00, yet a breach below its $4.16 support would undermine the uptrend. XTZ holds at $0.89 above $0.87, with the 50‑day EMA near a Golden Cross against the 200‑day EMA, potentially propelling the price above $0.99 and toward $1.08; failure to hold $0.87 could force a decline to $0.76. The article notes that each token’s current accumulation phase hints at short‑term demand, but warns that significant support breakouts could reverse the bullish outlook.

The last week of July saw a muted crypto market, with Bitcoin trading in a narrow consolidation band that dragged many altcoins lower. In contrast, Nigerian retail crypto traders stayed active, turning the spotlight on a trio of coins that topped on‑chain and social metrics: Bonk (BONK), Sui (SUI) and Pepe (PEPE). Bonk, a Solana‑based meme token, surged more than 150 % over 30 days and is trading near $0.00003, with analysts suggesting a move toward $0.000038 or possibly the year‑to‑date high of $0.00004 if buying pressure continues. Sui’s total value locked hit $2.148 billion — a 25 % lift from early July — and the token is currently around $3.99, eyed for support near $4.09 and a potential jump to $4.29. Pepe, riding the broader memecoin revival, gained about 18 % in the past month, sits at roughly $0.000012, and could push to $0.000014 or retreat toward $0.0000107 depending on market flow. Together, these trends illustrate that, despite global softness, speculative interest in affordable and institutional‑backed tokens remains buoyant in Nigeria.

Meme‑coin market fell 10.7 % in the last 24 hours, with Dogecoin, Shiba Inu and Pepe each dropping about 7 %. The decline followed co‑founder Alon Cohen’s statement that Pump.fun’s highly anticipated airdrop would not occur in the “immediate future,” prompting the PUMP token to plunge 17.7 % and exit the top‑100 by market cap. Pump.fun’s initial offering had raised $600 million in just 12 minutes, but the token’s market cap is now 55 % lower than its launch peak. Other Pump‑created coins—GOAT, Moo Deng and Peanut the Squirrel—saw double‑digit losses, while competitor Let’sBonk’s BONK modestly gained 3.2 %. Prediction markets now assign only a 3 % chance of an airdrop by month‑end, down from 86 % earlier in the week.

PEPE has risen nearly 57% in the past month, trading near a key breakout level yet still more than 50% below its all‑time high. Since July 16, about 17.9 trillion tokens have flowed out of exchanges, a pattern that signals holders moving to private wallets and reducing sell pressure. These outflows have continued despite a 12% price surge, indicating sellers are not prioritizing the market. The 30‑day MVRV ratio is +12.2%, well below the 20–30% threshold that usually triggers short‑term selling, leaving room for upside. Technical analysis places PEPE at the upper edge of a wedge pattern, with a breakout above $0.00001497—its 0.382 Fibonacci extension—required to validate a bullish move toward $0.000017. A drop below $0.00001200 would likely trigger a retracement, undermining the current bullish setup.

James Wynn, noted for high‑leverage trades, re‑opened positions with a 25‑x long on Ether and a 10‑x long on PEPE after a brief hiatus. The Ether bet covers about 3,300 ETH at $3,726, worth over $12 million; the PEPE trade spans many tokens at about $0.014, valuing roughly $11 million. Wynn currently has a $250,000 unrealized profit on PEPE but has lost about $60,000 on Ether, with liquidation levels at $3,493 for ETH and $0.0130 for PEPE. The comeback follows earlier liquidations of a $100 million Bitcoin bet and a $25 million contract, during which he blamed targeted liquidations. These moves arrive amid Ether’s 20% rally this month in a historic short squeeze, adding $150 billion to its market cap and pushing toward 2025 highs.