TLDR
- PEPE price is showing signs of a potential bullish breakout with a technical structure similar to its 2024 rally
- Recent analysis suggests PEPE could surge up to 796% to reach new all-time highs by the end of 2025
- Five wallets recently purchased 611 billion PEPE tokens worth approximately $4.28 million in just eight hours
- Retail trader activity is increasing with a 67.4% spike in small transactions, while whale activity remains subdued
- PEPE’s 30-day volatility has decreased from 146.37% to 115.24%, potentially signaling an upcoming significant price movement
PEPE, the popular meme coin, has been experiencing a relatively quiet period in recent weeks with continued sell-offs amid broader crypto market volatility. However, technical analysis suggests a major upward movement could be on the horizon, potentially leading to new all-time highs by the end of 2025.
Currently trading at $0.00000708, PEPE has seen a 4.7% decrease in the past 24 hours. Despite this short-term dip, several indicators point to a possible bullish future for the token.
Recent on-chain activity shows five wallets purchased 611 billion PEPE tokens worth approximately $4.28 million in just eight hours. This concentrated buying has generated excitement across the crypto community about a potential breakout.
Technical Analysis Suggests Massive Upside
Crypto analyst MasterAnanda has identified a technical pattern on PEPE’s chart that mirrors a formation seen before its previous rally to all-time highs. The analysis, shared on the TradingView platform, shows PEPE forming a short-term higher low around key support levels.
This pattern is reminiscent of PEPE’s price action between May and September 2024 when it traded in a descending channel before breaking out, creating a lower low, and then rallying to its current all-time high of $0.00002803 in December 2024.
The daily candlestick chart indicates that PEPE bottomed out within a descending channel in April. Since then, two distinct highs and two clear lows have shaped what appears to be a reversal structure.
Fibonacci extension levels suggest ambitious targets, with the 1.618 Fib level pointing to a 480% move and the 2.618 extension indicating a potential 796% upside. If this prediction holds, the next rally could push PEPE beyond $0.0004264, surpassing all prior highs.
Retail Traders Return While Whales Wait
On-chain data reveals that retail traders are slowly returning to PEPE. Over the past week, active addresses rose by 0.47%, a small but positive sign of engagement.
More telling is the 67.4% spike in transactions under $1, indicating that small traders are accumulating PEPE. In contrast, larger transactions in the $10,000 to $100,000 range dropped by over 23%, suggesting that whale investors are still waiting on the sidelines.
Whale data shows mixed signals. Over the last 30 days, inflows from large holders dropped by 74.15%, while outflows also fell by 76.75%. This pattern indicates that while whales aren’t actively buying, they’re not exiting their positions either.
On a 90-day scale, inflows decreased slightly while outflows rose by over 22%, hinting at some profit-taking but not a mass exit by major holders.
Market Conditions and Price Levels to Watch
PEPE’s price fluctuations have calmed down, with its 30-day volatility dropping from 146.37% to 115.24%. This reduction in volatility often precedes a major price movement in either direction.
PEPE has broken out of a descending channel and reclaimed the $0.00000700 mark. The 9-day and 21-day moving averages are close to crossing, which might signal a positive trend change in the coming days.
Current price analysis shows immediate resistance at $0.00000737. If PEPE clears this level, the next target could be around $0.00000884. Key support lies at $0.00000698, and as long as the price remains above this level, the bullish case remains intact.
In the derivatives market, open interest has fallen by 3.8% to $288.14 million, reflecting cautious sentiment among traders. However, data from Bitget shows a dense short liquidation zone between $0.0000074 and $0.0000076.
If bulls push PEPE’s price into this zone, it could trigger a wave of forced buybacks, potentially igniting a strong rally. For this to happen, spot buying pressure must remain strong.
While the technical outlook appears promising for long-term spot traders, those using leverage should exercise caution due to potential volatility during the build-up to any breakout.
The next few days will be crucial for PEPE’s price action. If it pushes above $0.0000076 with strong volume, the breakout that many investors have been anticipating may finally materialize.
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