On January 15th, PEPE's price dropped to 0.00000599 USDT, a 24-hour decline of 8.27%. On the surface, market sentiment appears to be cooling, but the real story is hidden in the data — with a trading volume of 17.6 trillion tokens and a transaction value of 110 million USDT, this indicates that it's not just ordinary selling pressure, but large-scale chips are undergoing intense turnover. For many traders, this moment could be the starting point of a new opportunity.

**Why can PEPE hold up despite the decline?**

PEPE's resilience stems from a combination of "psychology + consensus." The enormous supply of 420.69 trillion tokens allows retail investors to buy billions or even hundreds of billions of tokens with very little money, and the feeling of "I bought billions of coins" itself is a powerful attraction. More importantly, its token issuance model — the team has no reserves, and 99% of the tokens are injected into the liquidity pool and burned at once — this "all in" stance gives the community enough confidence.

Even with market fluctuations, PEPE still maintains a trading volume of hundreds of millions of dollars daily, which is no longer just speculative hype but has formed genuine liquidity support.

**Clues from technical analysis**

From the daily chart, PEPE entered a correction phase after reaching a high in early January, with moving averages showing a bearish alignment, indicating short-term pressure. But looking at the trading volume, the situation becomes interesting.

During this decline, the trading volume did not significantly shrink; instead, there were several instances of massive absorption, which is a key detail. Usually, if big players are truly fleeing, we would see a clear decline in volume. On the contrary, the steady volume suggests that the main players have not left the market but are using the panic to shake out weak hands. Plus, with PEPE having a 1% burn mechanism on each transaction, the circulating supply is gradually decreasing. For a highly volatile MEME coin, this "shrinking volume but not collapsing" pattern is often a typical sign of main players accumulating.

**On-chain data reveals the truth**

A more direct signal comes from the actions of large holders. In recent days, multiple whale addresses have been frequently building positions within the price range of 0.00000550 to 0.00000600. One address, in particular, bought 38.3 billion PEPE in a single transaction on January 13th.

These "smart money" investors are well aware of the potential short-term losses, yet they continue to buy firmly. The logic behind this is simple: in their calculations, this correction is just a phase to accumulate energy for the next rally. When retail investors panic at an 8% drop, these big players are voting with their real money, expressing confidence in the future market.