PEPE Price Nears $0.000005 Test After $51.25 Million Justin Sun Whale Disclosure

Sun-Linked Wallets Hold 2.82% of PEPE Supply

Whether PEPE can convert this week's rally into a confirmed daily close above $0.0000050 is the question the market has not answered yet. The PEPE price traded near $0.0000048 on Wednesday, up close to 12% over 24 hours, after blockchain analytics firm Arkham Intelligence attributed roughly $51.25 million in holdings to wallets linked to Tron founder Justin Sun. The attribution, published on October 27, puts 2.82% of the meme coin's total supply under a small cluster of known and suspected addresses and, by Arkham's own reading, makes Sun the largest individual PEPE holder outside exchanges. The wallets received 11.85 trillion PEPE through two large withdrawals from Poloniex, one on October 17 and one on October 26. Those transfers were worth about $48.76 million when they were recorded; the combined position has since grown to roughly $51.25 million as the token recovered. The disclosure arrived while the token was already climbing, and it has concentrated trader attention on large-holder activity. Market data over the past day shows the token trading between $0.0000043 and $0.0000050, with volume near $476 million and market capitalization above $2 billion. The token is up about 15% over the past month, though it remains far below its December 2024 record of $0.000028. Concentration cuts both ways. A position this size held across a handful of crypto wallet addresses creates a specific downside scenario: if those tokens move back onto an exchange and are offered for sale, the added supply could cap the recovery. On-chain tracking recorded a separate whale deposit of 366.97 billion PEPE, valued at about $1.64 million, to Coinbase on October 28, which trackers have read as a possible sale, although no executed transaction has been confirmed.

Exchange Flows Cut Both Ways

The on-chain record behind the rally is two-sided. Exchange-held PEPE supply fell by 4.77 trillion tokens on October 16, a 6% single-day drop and the largest since at least October 2, per the exchange-flow breakdown Santiment published on October 23. That session carried 15 transfers above $1 million and roughly $20 million in net outflows, about eight times the October 11–15 average, and PEPE went on to gain around 13% between its October 17 and October 22 closes. The pattern then partially reversed: between October 19 and October 22, exchange supply recovered by 2.11 trillion tokens, undoing more than 40% of the earlier decline. At the latest reading, net spot outflows of $1.39 million pointed to renewed withdrawals. The split between a crypto exchange vs crypto wallet matters here: tokens in transit cannot be sold instantly, but they are not locked away either, and flows alone cannot prove holder intent.

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Santiment published on October 23.

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Futures participation has grown with the price. Derivatives data shows futures volume rising 72.67% to $587.89 million while open interest climbed 7.10% to $316.14 million, consistent with fresh leveraged positioning in perpetual futures. Open interest growth confirms more outstanding exposure but not its direction; funding and long-short data would be needed to separate bulls from bears. Position sizing matters too, as the leverage missteps in Jez's $4 million PEPE bet make concrete. On the chart, the token has cleared the $0.00000469 resistance flagged in an early-October assessment and now faces the $0.0000050 ceiling. Analyst Crypto With Gopal identified a potential double bottom, with buyers defending support at $0.0000042 in his October 27 post, while trader Symba marked resistance at $0.00000453–$0.00000454 with recovery targets of $0.00000470 and $0.0000050. Those levels sit inside the token's broader support and resistance structure, which our PEPE technical analysis tracks in full. The current recovery mirrors the rebound toward $0.00000476 resistance we covered after last week's dip. A daily close above $0.0000050 would open $0.0000055 and $0.0000060; rejection would expose support at $0.0000045 and then $0.0000040. Canary Capital also amended the registration for its proposed PEPE exchange-traded fund; that filing remains a proposal, not evidence of an operating product or completed inflows.

Our live monitoring puts PEPE at $0.00000476 at the latest check, down 0.4% from the 06:10 UTC reading but up 9.9% over 24 hours. Our composite signals read an uptrend, with the relative strength index at 61.10, above the neutral 50 line and below the 70 overbought threshold, and a bullish MACD signal. Perpetual funding runs at 0.0071% and our aggregate open interest stands near $102.5 million, a universe figure well apart from the $316.14 million cited above. Broader sentiment is neutral, with the Fear and Greed Index at 51 out of 100. What settles the open question is a single print: a daily close above $0.0000050 confirms the breakout and brings $0.0000055 into range, while a rejection that gives back $0.0000042 would retire the double-bottom case.