What happened?
A sharp market pullback pushed PEPE to a make-or-break level, testing the lower boundary of a 7-month bullish pennant around $0.000009. Whale wallets added over 2.7 trillion PEPE in the past week even as speculative open interest fell about 13.6%, showing big holders accumulating while short-term traders stepped back. Funding rates nearly tripled to 0.0095, suggesting traders are reloading longs, but momentum indicators like RSI and MACD remain fragile.
Who does this affect?
Short-term traders and leveraged futures traders are most exposed because a breakdown could trigger large liquidations and a fast move down toward the next support near $0.0000055. Large holders and accumulation-focused investors benefit if the level holds and a bounce forms, while early presale or passive-income project participants have different risk profiles. Broader crypto investors and potential TradFi/ETF entrants are also watching, since their flows and interest rate trends could amplify any big move.
Why does this matter?
If PEPE breaks the $0.000009 support it could drop roughly 40% to about $0.0000055, eroding confidence across meme coins and prompting further selling pressure. Conversely, flipping the $0.0000125 zone back into support would validate the pennant and target a 215% rally to $0.000029, with an extended macro-driven rally potentially pushing toward $0.00005. Because open interest, funding rates, whale activity, and macro factors like rate easing and ETF flow all interact, any directional move is likely to be amplified and impact market liquidity and sentiment across the sector.