PEPE, a meme-based cryptocurrency designed for online communities and speculative interest, is back in the spotlight among savvy investors and displays bullish indicators, according to fresh data posted today by market analyst Onchain Lens. The analyst tracked a smart whale who opened a PEPE (3x) long position two days ago, with the current data showing that the investor now holds an unrealized profit of more than $2 million. He is an experienced trader, as the data shows that the whale recently launched a leveraged position on ETH, but closed the trade with a loss of $488,069.

As per the data, early this morning today, the investor liquidated his ETH long position (worth $15.57 million) with a stop loss, registering a loss of over $470,000. The whale then utilized the capital to launch a 3x leveraged long position in PEPE with a position valued at $12.85 million, currently holding a profit worth over $2 million.

With $PEPE showing bullish signs, a whale opened a $PEPE (3x) long position 2 days ago and now has a floating profit of over $2M.

Previously, this whale traded $ETH and closed with a loss of $488,069.https://t.co/wsAvGBtCie pic.twitter.com/0ycX355KKz

The whale’s move to launch a long position on PEPE shows large investors’ confidence in the meme coin. Whenever a big customer (like the whale above) opens a long position, it typically suggests that investors’ conviction that the token’s price is about to experience an uptrend.

This belief indicates that smart wallets are silently buying PEPE tokens as they get ready for an upcoming rally. The asset’s price movement shows that PEPE accumulation is surging, with institutional inflows showing resurgence and retail appetite heightening. PEPE, which currently stands at $0.057093, has been up 66.1% and 49.1% over the past week and month, respectively. This shows savvy investors are targeting the well-recognized meme coin, seeking to tap into the token’s renowned growth capability. PEPE’s momentum indicates that the larger crypto market started the new year with some renewed interest, with major meme coins among the best performers in weekly cryptocurrency markets.

Today, Bitcoin and Ethereum, which currently hover at $91,532.27 and $3,144.48, have been up 4.88% and 6.96% in the past seven days, respectively. On the other hand, Pepe, a meme coin inspired by the internet character Pepe, the Frog, is the top meme token performer with a 66.89% weekly gain, according to the latest metrics sourced from CoinMarketCap. While BONK followed with a 47.725 weekly price surge, FLOKI is the third-best meme coin with a 39.78% weekly price growth. This reflects that capital that moves into Bitcoin also finds its way into other altcoins as traders rotate funds into perennial meme coins, positioning themselves for a potential uptrend after months of consolidation last year.

The action by the whale (above) to open a long position signals that an upward move is set to happen further in the PEPE market. PEPE’s 49.1% monthly rise, with a current market cap of $2.96 billion, shows heavy purchasing frenzy and renewed community interest. PEPE started experiencing steady price decreases since July last year, mainly catalyzed by wider consolidations in the meme coin valuations and further worsened by the US-China trade conflicts, which significantly hampered investor appetite in speculative trading in 2025. However, the new resurgence signifies fresh investor interest in broader digital assets amid surging market optimism in 2026.

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