Pendle Whale Winks: 1.5M Tokens, Time-Lock, and a Possible Reversal

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Pendle [PENDLE] has shed more than 65% of its value since August 2025, a descent so orderly you’d think the market was practicing for a very dull ballet. The downbeat has paused, like a dragon wearing indoor socks, and the token now stands at the lip of a perhaps-noticeable reversal, blinking at its own shadow and hoping for a good encore.

Supporting this sunny forecast, a crypto whale has wandered into the story with the self-importance of a bibliophile in a dragon suit.

Crypto tracking platform Onchain Lens revealed that a newly created whale wallet address, “0xd28,” has withdrawn a massive 1.5 million PENDLE tokens worth approximately $2.82 million from Binance.

The whale hoarded the tokens and sent them into a time lock until the 20th of January 2028, signaling long-term conviction that would make a tortoise look enthusiastic about sprinting a marathon while wearing a monocle.

In the crypto landscape, withdrawals from exchanges are often treated as bullish signals, like someone secretly sneaking caviar into the pantry-it’s not the act itself, but what it implies about intentions that makes the cat sit up and consider a new career in finance.

PENDLE staking on the rise

Another bullish metric reinforcing the optimistic outlook is the steady rise in PENDLE staking over the past week.

Recent data from on-chain analytics platform Dune showed that the amount of staked PENDLE has been increasing consistently, surpassing 11 million tokens within just one week.

This suggests that PENDLE investors are choosing to lock their assets rather than sell, which typically reflects stronger conviction in the token and helps reduce selling pressure. It’s the crypto equivalent of choosing to tidy the pantry rather than leave a trail of half-eaten biscuits across the carpet.

Current price and rising volume

At press time, PENDLE was trading at $1.96, witnessing a steady 4.95% climb over the past 24 hours. Market participation has also increased, with trading volume jumping 13% to $43.24 million.

Rising trading volume alongside price gains suggests that traders are showing strong interest in the asset’s current trend. 

AMBCrypto’s technical analysis revealed that PENDLE had been trading within a parallel channel between upper and lower boundaries of $1.70 and $7 on the weekly chart since January 2024.

During this period, the price has touched the lower boundary more than four times, and each visit has resulted in a strong reversal.

Whereas, in March 2024, August 2024, and March 2025, PENDLE recorded gains of over 200% following these reversals.

Based on this historical performance, it appears that PENDLE could potentially repeat its pattern once again.

On the daily chart, if PENDLE holds above the $1.70 level, it could see a price increase of around 22% and potentially reach the $2.38 level in the coming days.

If bullish momentum continues and PENDLE breaks above the $2.40 resistance, the token could see an additional 17% upside, pushing the price toward the $2.81 level.

However, failure to hold above the $1.70 support could invalidate the bullish thesis and expose PENDLE to further downside toward the lower range.

As of press time, the Money Flow Index (MFI), which measures the inflow and outflow of money by factoring in both price action and trading volume, stood at 51.23.

This value suggests that the current buying and selling pressure is balanced, with no immediate signs of overbought or oversold conditions.

However, as the price traded below the 50-day Exponential Moving Average (EMA), it indicated that short-term sentiment remained bearish.

Traders eye on long-leveraged positions 

Derivative data from CoinGlass further strengthened this bullish outlook. According to the latest figures, intraday traders were heavily positioned around the $1.842 level on the downside and $1.983 on the upside.

At these levels, traders have built approximately $503.55K worth of long-leveraged positions and $270.00K worth of short-leveraged positions.

This imbalance suggests that traders are strongly tilted toward a bullish view and believe PENDLE is unlikely to fall below the $1.842 level in the near term.

Final Thoughts

  • A crypto whale has accumulated 1.5 million PENDLE tokens worth $2.82 million from Binance as the price shows signs of a reversal.
  • Price action and historical performance suggest that PENDLE has the potential to rally by 22%, provided it sustains above the $1.70 level.

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2026-01-28 21:37