TLDR
- PEPE has fallen 80% from December’s high of $0.00002825 to $0.000008810, with a sharp 27% drop in the last day
- Large holders have moved over 1.1 trillion tokens, including two major transfers worth $6.39 million and $4.9 million to exchanges
- Technical analysis shows resemblance to February 2024’s market structure, when PEPE saw major price appreciation
- The token’s halving event is scheduled for February 4, 2025, which will cut new token production from 62,500 to 31,250 per block
- On-chain metrics indicate decreased exchange reserves as holders move tokens to private wallets
The cryptocurrency market is witnessing a notable price movement in the PEPE token as it heads toward a critical network update. Trading activity has intensified in recent days, with the price dropping to $0.000008810, marking an 80% decrease from the December peak when it reached $0.00002825.
Market data reveals an unusually high volume of token movements, particularly from addresses classified as whales – holders with large token quantities. One standout transaction involved the transfer of 430 billion PEPE tokens, valued at $6.39 million, to Binance. This move was followed by another major holder sending 325.5 billion tokens, worth $4.9 million.
These large-scale movements have occurred against the backdrop of broader market adjustments. The total cryptocurrency market value has contracted from $3.73 trillion to $3.42 trillion over the past six weeks, representing a 12.3% reduction in overall market size.
Trading patterns show interesting parallels with previous market cycles. The PEPE/DOGE trading pair has reached levels reminiscent of February 2024, a period that preceded substantial price appreciation for the token. Market analysts are monitoring these similarities closely.
Blockchain data indicates shifting holder behavior. Exchange reserves have decreased as more investors transfer their tokens to private wallets, a pattern that typically suggests a preference for longer-term holding rather than immediate trading.
The upcoming halving event, scheduled for February 4, 2025, adds another layer to the market dynamics. This protocol update will reduce the number of new tokens created per block from 62,500 to 31,250 PEPE, effectively cutting the inflation rate in half.

Technical traders are paying attention to key price levels. After failing to hold above $0.00001450, the token is testing support in the $0.00001130-$0.00001120 range. These price points have served as important technical markers in previous trading periods.
Market Value to Realized Value (MVRV) data presents an interesting perspective. Current readings align with levels that historically preceded price recoveries ranging from 51% to 72%, though past performance doesn’t guarantee future results.
Trading volumes across different platforms show varying patterns. While some exchanges report reduced activity, others maintain steady trading levels, indicating uneven distribution of market participation.
One notable market participant, identified by the wallet address “0xc25,” has drawn attention after depositing 500 billion PEPE tokens. This address has a track record of profitable trading in the token’s market.
The altcoin market context provides additional insight. The Altseason Index currently reads 53, suggesting balanced market conditions rather than dominance by any particular cryptocurrency segment.
Social media analysis reveals mixed sentiment among traders. While some express caution about current market conditions, others point to similarities with previous profitable trading periods.
Recent exchange flow data highlights continued movement between trading platforms and private wallets. These transfers offer clues about potential market direction and investor confidence levels.
Price action shows PEPE testing support levels that previously acted as resistance during late 2024’s upward price movement. Market participants are watching these levels for potential trend reversal signals.
The token’s trading patterns align with broader cryptocurrency market movements. Bitcoin’s stabilization around $100,000 has coincided with increased pressure on alternative cryptocurrencies.
Historical data from early 2024 shows how market conditions can shift rapidly. During that period, Bitcoin’s rise from $42,000 to $72,000 eventually led to increased interest in tokens like PEPE.
The upcoming halving event has generated discussions about potential supply impacts. Similar events in other cryptocurrencies have influenced market dynamics, though outcomes depend on broader market conditions.
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