In the latest surge of the Pepe (PEPE) price rally, a remarkable surge in whale activity has emerged, reflecting the fervor surrounding this memecoin phenomenon.

PEPE has soared by an impressive 21% within the last 24 hours alone, currently marking trades at $0.0000102. This monumental rise has propelled the asset to reach its all-time high of $0.0000109 at 16:40 UTC on March 13. With a total market cap now standing at a staggering $4.3 billion and a daily trading volume surpassing $2.15 billion, Pepe is making waves across the crypto market.

Santiment data reveals a substantial surge in whale transactions, defined as those involving at least $100,000 worth of PEPE, spiking by an astounding 416% within the last day, soaring from 135 to 697 unique transactions per day.

The frenzy extends beyond transactions, as evidenced by heightened exchange activity. Santiment data showcases a remarkable 255% rally in PEPE exchange inflow over the past day, currently tallying at 8.03 trillion tokens. Correspondingly, exchange outflow has surged by 240%, now resting at 6.73 trillion PEPE, as per insights gleaned from the market intelligence platform.

This whirlwind of activity has resulted in a net inflow of 1.3 trillion coins into exchanges, potentially signaling an impending short-term selloff as whales seize the opportunity to lock in profits at this pinnacle price point.

Adding to the intrigue, Pepe's Relative Strength Index (RSI) has been on a steady incline since May 9, hovering around the 70 mark, indicative of an overvalued and overheated market condition according to Santiment analysts.

Given this heightened whale activity and the soaring RSI, the stage is set for increased price volatility in the Pepe market until further shifts occur.

Coinciding with Pepe's ascent, a recent crypto.news report dated May 13 underscores the broader bullish momentum pervading the memecoin ecosystem. Notable gainers include Pepe, alongside other meme-inspired tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki (FLOKI), suggesting a broader trend of enthusiasm within the meme coin domain.