The meme coin market is sending mixed signals. The sector has dropped by more than 5% over the past week, but prices have risen by approximately 5% in the last 24 hours, attracting renewed interest. In this context, three notable meme coins are standing out for different reasons.

One coin is rising despite whale sell-offs. Another coin is experiencing large-scale accumulation during a correction period, while a third coin is seeing increased trading volume at key technical levels.

Pump.fun (PUMP)

Among the meme coins to watch this week, Pump.fun stands out for different reasons. While many meme coin tokens have lost momentum, PUMP is showing relatively strong movement. This token has risen about 6% in the past 24 hours and nearly 9% over the past 7 days, placing it on short-term traders' radar.

Note: Pump.fun is not inherently a meme coin. It is a launch platform that allows the creation and trading of meme coins. CoinGecko categorizes it as a meme coin, and because this recent movement has had a tangible impact on the category's performance, it is included in this article.

Looking at the price flow, Pump.fun is forming a cup and handle pattern. However, there is an important point. The cup portion is not flat but slopes downward. A downward-sloping cup suggests a lack of strong conviction. A breakout above in such a structure typically requires stronger buying pressure than usual.

This hesitation is evident in the movements of the whales. Over the past 7 days, whale wallets have reduced their holdings by 6.37%. Whale holdings are currently at 1.2 billion 20 million PUMP, with approximately 82 million tokens sold during the price rise. Based on current prices, this equates to about $2 million.

This divergence carries significant meaning. Prices are rising, yet large holders have chosen to sell during a bull market. This does not negate the bullish scenario itself, but it makes the trust requirement stricter.

The key observation price on the chart is $0.0026. If the daily close exceeds this level, a neckline breakout will be confirmed, opening up further upside potential up to $0.0037. Considering the cup depth, an upside of approximately 75% is expected. Conversely, if $0.0023 is lost and the price continues to fall to $0.0020, the pattern will be invalidated, and the whales' caution will be justified.

Pepe (PEPE)

Pepe (PEPE) remains one of the notable strong meme coins this week, but its structure is sending mixed signals. The token price has risen nearly 35% over the past 30 days, ranking among the top performers in the meme coin sector. However, over the past 7 days, it has declined by about 14.5%, indicating a strong trend overall but signs of weakness in the short term.

Whale movements are particularly noticeable during this recent downturn. Since January 7th, whale wallets have increased their holdings from 1.33 trillion 150 billion PEPE to 1.34 trillion 320 billion PEPE, an increase of approximately 1.17 trillion tokens. At the current price of $0.0000059, this represents a net purchase of about $6.9 million. This buying occurred while the entire meme coin market was falling by more than 5%, indicating selective conviction rather than general risk appetite.

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The price chart explains why whales are proactively taking positions. On the 12-hour chart, Pepe is moving narrowly between the 20-period and 200-period moving averages (EMA). EMAs give more weight to recent prices, helping to identify trend direction. Both EMAs are converging, and if the price holds, the likelihood of a bullish crossover increases.

In the past, Pepe’s recovery above the 20-period EMA has been crucial. After consistently recovering above this level on January 1st, it saw a 74% surge. If both EMAs are surpassed and the 12-hour candle closes above them, the price could rise to $0.0000075 and even $0.0000085.

In the event of failure, risks follow. If the 12-hour candle closes below $0.0000056, Pepe could drop to as low as $0.0000039.

Whales are betting on the structure before confirmation. The direction of the next moving average will determine whether their belief will succeed.

Floki (FLOKI)

This week, Floki stands out as a meme coin to watch. Despite short-term weakness, interest in Floki is increasing. Over the past 7 days, FLOKI has declined by about 8%, but over the past 30 days, it has risen nearly 12%. This mirrors Pepe’s situation, where short-term weakness contrasts with a strong overall trend.

Supporting data on interest also reinforces this. Floki ranked third in trading volume and unique traders among meme coins at the beginning of January, coming after Pepe and Baby Doge. This increase in trading activity suggests traders are not leaving the meme coin market but rather shifting their attention to other tokens.

The price chart also clearly shows the reason. On a 12-hour timeframe, Floki has once again crossed above the 20-period exponential moving average (EMA). This level holds significant importance for Floki. Each time it has broken above this average line over the past month, an upward trend followed. On January 1st, a similar recovery led to a 52% surge. A small recovery on December 8th also brought an 11% rebound.

The current recovery is worth noting. If the price holds above the 20-period moving average, Floki could rise toward $0.000053. With accumulating momentum, a target of $0.0000619 is also possible. This aligns with the recent increase in trading interest.

There are clear risks as well. If not supported above the EMA, $0.000050 will become the key level again. If this level is breached, especially with declining volume, there is a greater risk of a drop down to $0.000038.