Pepe (CRYPTO:PEPE) saw a 9% price rise to $0.00001000, causing its largest-ever $17 million liquidation as bearish traders lost big.

Despite this, major wallet holders, including whales, continued accumulating over 1 trillion PEPE in the past three weeks, expecting a recovery.

Pepe's 9% price increase led to a massive $17 million liquidation, the largest in its history, triggered by bearish predictions of further declines.

Meanwhile, non-exchange wallet holders accumulated over 1.5 trillion PEPE, worth $13 million, viewing the dip as a buying opportunity.

Although Pepe briefly lost its uptrend, falling from $0.00001146 to $0.00000889, a recent bounce to $0.00001000 hints at potential recovery.

A sustained move above $0.00001000 could push it back to $0.00001146, but failure might see it drop to $0.00000775, challenging bullish expectations.