What’s Pushing Pepe Coin Price Right Now?

Meme coins are back in the game, outperforming other altcoins. Pepe coin was not an exception, as it witnessed a recent 24% increase. At the time of writing the coin was up 1.04%, valued at $0.00001300.

Analysts and whales offered crucial insights that hinted at a potential shift in the market structure of the meme coin.

What Does the PEPE Coin Whale Action Mean?

A noteworthily aggressive whale has been hoarding PEPE. The recent data vindicated two new transactions worth 780.6 billion PEPE ( $6.8 million) over the past 2 hours.

These inflows came after previous purchases of 500 billion and 1 trillion PEPE last week, totaling 2 trillion PEPE, amounting to about $17.42 million. Those tokens were drawn from the hot wallet at Binance, suggesting intentional, massive stockpiling.

Historically, such PEPE coin-related events have frequently heralded brief short-term price flashes as supply has tightened and demand has increased.

Nonetheless, if the whale moves disperses into surges, local tops have also been triggered. The current trend has implied a new confidence level in PEPE, which may likely spill over to retail sentiment.

But with heavy weight now consolidated, price may either spike on a prolonged follow through or retrace sharply if the whale gets out.

This accumulation phase highlights a blockbuster bet on future upside but it’s how the market plays out that will determine whether this whale movement is followed through via gains or a top signal.

Analyst Views

Analysts had first detected PEPE’s potential with an excellent support which was the low of Q3 2024, and expected a rush if Ethereum translated again.

CRG indicated in this zone that there were value buys as PEPE coin price was trading around the monthly open and top of the daily cloud.

CRG called denoted it as a “beautiful” move and he advised traders to manage their risk levels putting stops below the bounce. He stressed the need to flip the monthly open for additional upside.

As price approached the monthly open, CRG confirmed PEPE was advancing into a trouble zone at the 200EMA, where we could see many shortstop orders clustered.

CRG said the price structure was textbook and hinted that breaking this resistance may ignite short liquidations.

His consistent perspective demonstrated how the price behaved at critical levels, especially around cloud resistance, and an assumption that if momentum continued, PEPE could now rally further, but a breakdown near these zones could turn the structure around.

What Signals Potential Shift in Price?

PEPE coin managed to break a long descending resistance level around $0.00000850 following the completion of a double bottom pattern which was suggestive of great bullish reversal pattern.

The candle during breakout settled at $0.00000968 with the daily appreciation confirming the momentum.

The second bottom around level $0.00000620 indicated accumulation, the breakout above the neckline confirmed positive conviction.

It then surpassed this barrier and at the time of writing it was trading at $0.00001300.

As PEPE coin price maintained itself over $0.00000850 level, PEPE surpassed the $0.00001200 and may target $0.00001700 area within the short-term.

However, a breakdown from above breakout zone should pull it back to $0.00000750 or even retest the $0.00000620 support.

The breakout trajectory was valid so long as price holds the previous resistance line that was changed into the aid.

Overall, structure implied that if buyers remained in control and volume stayed high at levels that the bear/bull struggle turned into support/resistance, PEPE coin could be about to enter a new bullish phase.

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