TLDR
- Despite a significant 47.78% drop in PEPE's value over the last month, there's a glimmer of hope as technical charts illuminate the possibility of a forthcoming 54% uptrend based on identifiable accumulation signals.
- Currently, PEPE navigates within a rising pattern on the trading charts, facing notable resistance at $0.00001056, but it still upholds sturdy support thresholds.
- A close look at the blockchain data reveals a hefty accumulation phase, with an impressive 635.23 trillion PEPE circulating through trades. Moreover, the past week alone saw $30 million worth of PEPE being scooped up from crypto exchanges.
- Even with the prevailing bearish climate, PEPE stands steadfast with a strong base of over 404k holders involved on the blockchain and $44 million securely locked in liquidity pools.
- The meme coin market has been a whirlwind lately with new celebrity-driven token ventures and notorious rug-pull schemes shaking up investor confidence, yet whale investors keep their faith in PEPE.
PEPE, the ubiquitous meme currency, has likely ventured into an accumulation stage after witnessing a stark 47.78% fall in the previous month. By aligning technical insights with on-chain evidence, a bullish trend seems plausible, seen in the uptick in both retail and institutional purchasing actions.
Looking at recent trades, PEPE appears to be tracing an upward channel pattern, a signal often preceding gains in value. The token's price clings to significant supports and sees immediate pushback at $0.00001056. Surpassing this hurdle could drive a remarkable 54.22% gain.
This is a crucial level for $PEPE . If PEPE's value can hold its ground above $0.0000092, there might be a chance of a bounce back. However, should it slip below this threshold, a slide toward $0.0000032 could be on the horizon. pic.twitter.com/arMSVzXiuo
— Ali (@ali_charts) February 16, 2025
Market insights point toward an ongoing hefty buy-in phase, with roughly 635.23 trillion PEPE changing hands at the current market scope. This upswing in trade volume aligns with an observable trend of investors withdrawing assets to secure wallets—a move typically seen as a future-focused, bullish maneuver.
Despite the tumult in the market, PEPE's fundamentals stay unquestionably robust. The cryptocurrency is not only supported by over 404,000 active holders but also boasts an impressive $44 million in liquidity decisions locked via Ethereum smart contracts, portraying a solid groundwork for eventual recovery in value.
Exchange netflow data from Coinglass bolsters the optimistic narrative; a notable $30 million in PEPE was bought from exchanges just last week, a trend tracing back to early 2025. The single largest acquisition seen this year reached $148.86 million, underscoring sustained interest from heavyweight investors.
Technical Analysis
The trading indicators illustrate a mostly encouraging snapshot. For instance, the Relative Strength Index (RSI) is currently reading 47.02 with an upward trend, hinting at building upward momentum. If it breaks past the 50 mark, it could solidify the argument for a market leaning toward buyers.
Nevertheless, challenges persist. The weighted funding rate for open interest has slipped from its high on February 14, down to 0.0002% from 0.0101%, highlighting the selling tension within the derivatives space. An upward turnaround on this metric is crucial to secure enduring gains.
PEPE’s price Recent actions suggest PEPE's movement is getting more intertwined with Ethereum, stemming from the blockchain it operates on. This connection hints at possible advantages should Ethereum continue its upward path toward recovering its former peaks.
The wider meme coin domain hasn't been immune to difficulties as of late, witnessing a minor market capitalization slide of 2.4% in the past day alone, touching $77.8 billion. However, the daily trading volume for these coins remains robust at $6.4 billion.
Through technical scrutiny, several hurdle points are identified that need overcoming should a rally be on the cards. Among these resistance levels, $0.00001137, $0.00001217, and $0.00001331 are notable. At present, the most ambitious goal for the setup extends to $0.00001477. that PEPE Support thresholds have shown their mettle, with price finding eager buyers around the $0.0000092 mark. According to analyst Ali Martinez, holding above this level is critical for keeping a bullish stance. Additional support can be traced to $0.0000066, harmonizing with the 0.786 Fibonacci retracement on a weekly scale.
The latest market narratives include a spike in token launches backed by celebrities, which has shifted the capital dynamics within the meme coin realm. A series of these high-profile launches have led to significant investor losses, fostering caution regarding new ventures.
PEPE's trading conduct hints at steady ranges, pointing to possible longer-term holder accumulation. Such tendencies often herald upcoming price climbs due to reduced circulating supply.
Data from crypto exchanges indicates climbing interest from institutional participants, as numerous significant wallets have expanded their holdings during recent price dips. This pattern mimics behavior observed during earlier phases of price rebounds.
Maisie brings seasoned insights as a veteran journalist in crypto and financial news, having authored content for Moneycheck.com, level-up-casino-app.com, and Computing.net, and serving as the Editor in Chief at Blockfresh.com.
