Key Highlights:
- Wallets associated with Justin Sun accounted for around 3% of all PEPE tokens in just 10 days, as reported by Arkham Intelligence.
- PEPE's Social Dominance metric rose to 1.209% (highest since mid-April), and Open Interest increased by 25.07% from $248.66M to $311M in just 10 days.
- PEPE price is just 2.5% short of attempting a major breakout from the $0.00000508 resistance of a cup-and-handle pattern.
PEPE, the frog-themed meme cryptocurrency, jumped over 9% during Wednesday’s Asian market hours to $0.000005, before reverting to $0.00000482. The sudden buying interest followed recent on-chain data that reports Justin Sun-linked wallets hold nearly 3% of PEPE’s total supply. The move has also raised the social dominance signal for this asset, along with derivative market support.
Justin Sun Now Controls Nearly 3% of PEPE Supply
PEPE emerged as one of the top gainers among major cryptocurrencies on October 28, up 12.51% from yesterday to $0.00000482. While other altcoins and Bitcoin remain subdued ahead of the Fed’s interest-rate decision, PEPE’s recovery momentum was fueled by major accumulation from TRON DAO founder Justin Sun.
Arkham Intelligence’s X post on Tuesday hints that Justin Sun could be the top individual holder of PEPE, controlling almost 3% of the asset’s supply, worth roughly $51.25 million. Only a few crypto exchanges, including Binance, Robinhood Crypto, and Coinbase, own more PEPE than he does, and no other wallet cluster comes close.
Interestingly, Sun had not touched PEPE for nearly two years, and most of the above-mentioned accumulation in his official and predicted wallets has occurred within the last 10 days. Before October 16, 2026, the SUN-linked wallet that Arkham attributes had only $267,000 in PEPE. The current holding indicates this number has spiked more than 200 times.
Details on the transaction are:
- Oct 15-25 → $77M in stablecoins moved from Sun wallets to Poloniex
- Oct 17-18 → withdraws 7.2 TRILLION PEPE ($28.4M)
- Oct 26 → withdraws another 4.65 trillion ($20.3M)
Despite this massive accumulation and significant price spike, market analysts at tododecripto.eth urge caution. Their recent X post highlights that Sun has not officially confirmed this position, and the wallets under watch are tracked by Arkham Intelligence on algorithmic predictions rather than absolute verification. These whale wallets currently sit at unrealized gains of $2M.
“A whale of this size doesn’t move $49M into a memecoin for fun, or does it?” Todo De Cripto questions.
Retail Interest Reflected On Social Dominance Metric and Open Interest Rise
Santiment’s Social Dominance index captures this sentiment by measuring PEPE’s percentage of total cryptocurrency media mentions. The index rallied to 1.209% on Wednesday, the highest since mid-April, as market engagement and bullish sentiment among frog-meme fans continued to build, potentially driving further gains.
PEPE’s open interest (total outstanding open futures and options contracts) increased by 25.07% over the last 10 days from $248.66 million to $311 million. The rise indicates that active traders are entering into fresh leveraged bets with a view to a big price change, adding to speculative momentum that could push the ongoing recovery even faster.
PEPE Price Inches Close to Major Breakout
Over the past 48 hours, PEPE gained 14.81%—climbing from $0.00000432 to $0.00000496. This price rally pushed its market capitalization back to $2.04 billion, while 24-hour trading volume surged 145% to $533.27 million, signaling strong retail participation.
With sustained buying, the coin price could rise another 2.5% and challenge a multi-month resistance trendline at $0.00000508. A broader analysis of PEPE shows this resistance as part of a traditional bullish reversal pattern called a cup and handle.
This chart setup is characterized by a saucer-like recovery indicating the main accumulation trend in price, followed by a temporary pullback before the major breakout.
A bullish breakout from the overhead resistance will further intensify the bullish momentum in PEPE and chase a potential target of $0.00000788.
