Deep Dive
1. Mercado Bitcoin Hacker Sells Stolen Altcoins (4 November 2026)
Overview: Following the 2 November breach of Brazilian exchange Mercado Bitcoin, the attacker began converting stolen assets. Arkham Intelligence reported that on 4 November, the hacker swapped approximately $1.82 million worth of stolen PEPE tokens for 4,605 ETH, part of a $10.55 million altcoin conversion spree. While some assets were frozen, this move introduced a potential overhang of sellable supply into the market.
What this means: This is bearish for PEPE in the short term because it directly adds sell pressure from a non-economic actor. The market must absorb these tokens if they are deposited on exchanges, which could dampen upward momentum. However, the broader impact may be limited if the amount is small relative to PEPE's $2B+ daily volume.
(Arkham)
2. PEPE Rises on Post-Election Market Squeeze (5 November 2026)
Overview: PEPE outperformed major memecoins on 4-5 November, spiking to $0.00000533. The move was fueled by a massive Bitcoin short squeeze following the U.S. Democratic election victory, which saw over $415M in total liquidations. Analysts cited spillover momentum, sustained whale buying, and PEPE's position above key moving averages as supportive factors.
What this means: This is bullish for PEPE as it demonstrates high-beta responsiveness to macro crypto catalysts and strong underlying demand. The ability to lead a risk-on move suggests retained narrative strength among traders, though its momentum remains tied to Bitcoin's direction.
(CoinMarketCap)
3. Price Consolidates at Key Technical Juncture (5 November 2026)
Overview: As of 5 November, PEPE was compressing below the $0.0000053 resistance level, its post-squeeze high. Technical analysis highlights a bullish structure with the price above the 50-day ($0.0000043) and 200-day ($0.0000039) EMAs. The RSI near 59 indicates balanced momentum, with a daily close above resistance potentially triggering an 8% move toward $0.0000057.
What this means: This sets up a neutral-to-bullish technical outlook. The consolidation indicates a battle between immediate profit-taking and accumulation. A confirmed breakout would signal renewed buyer conviction, while a failure to hold support near $0.0000046 could invite a deeper correction.
(CoinMarketCap)
Conclusion
PEPE is navigating a clash between negative event-driven supply and positive technical and momentum trends. Will sustained whale demand and a favorable market structure be enough to absorb the hack-related overhang and fuel the next leg up?