- Pepe gains 6.45% in 24 hours, outperforming the crypto market’s 4.14% rise.
- Whale wallets added 4.02T PEPE since February, reducing exchange supply.
- RSI climbs to 58.85 as Pepe nears $0.0000075 resistance amid recovery channel.
Pepe’s price has rebounded strongly after weeks of choppy trading, rising 6.45% in a single day to $0.00000722. The meme token outperformed the broader crypto market, which increased by around 4.14%.
Despite being down 32.8% this month, the latest uptick has revived optimism among traders who view PEPE as a leading meme coin for the next cycle. Analyst Junny notes that Pepe’s structure remains intact despite a prolonged consolidation phase throughout 2023.
He stated that “nothing has changed for the greatest meme this cycle,” indicating continued confidence in the asset’s long-term setup. The analyst’s chart projects a potential breakout before 2026, with Fibonacci levels showing resistance near previous swing highs.
Whale Accumulation and ETF Excitement Boost Confidence
PEPE has accumulated over 4.02 trillion since February. This accumulation has reduced the coin’s supply on exchanges, a pattern that often precedes recovery phases. Whale activity has historically played a key role in PEPE’s short-term price surges.
Additionally, renewed attention toward altcoin ETFs has improved sentiment across the market. Ethereum ETFs have attracted inflows exceeding $170 million this week, sparking optimism for broader exposure to altcoins. Pepe’s social engagement has also increased, surpassing Shiba Inu in activity and reflecting the return of retail traders to meme coins.
Technical Outlook Suggests Room for Further Upside
On the 4-hour chart, PEPE has formed a short-term recovery channel after a steep correction earlier in October. The price is testing resistance at $0.0000075, while support has developed around $0.00000643. This level aligns with the lower Bollinger Band and has held through multiple retests.
The RSI now reads 58.85, suggesting improving momentum without signaling overbought conditions. The 20-SMA is trending toward the midline of the Bollinger Bands, showing a gradual shift in sentiment. If PEPE maintains levels above $0.0000068, traders anticipate a possible move toward the $0.0000091 resistance zone in the coming sessions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
