Whales' Buying Spree Boosts PEPE Value, Will it Overcome the Resistance at $0.0000135?
The cryptocurrency market is abuzz with excitement as Pepecoin (PEPE), the meme-inspired token, continues to make waves. The current short-term outlook for PEPE is mixed but cautiously optimistic, with potential price targets mainly dependent on wave patterns, support levels, and whale activity observed recently.
According to technical analysis, PEPE is currently in a corrective wave 2 after an impulsive wave 1 rally. The critical support zone near $0.00001000 is seen as crucial for triggering the next strong upward move (wave 3). Breaking above approximately $0.00001500 would confirm wave 3 and could push PEPE toward a medium-term target around $0.00002837, starting August 2025[1].
However, price forecasts for August 2025 vary, with potential intramonth lows around $0.00000610 to $0.00000771, average prices near $0.00000936-$0.00001050, and possible highs between $0.0000110 and $0.00001688, reflecting volatility and uncertain momentum[1][3].
Whale activity and on-chain data suggest some accumulation and consolidation, but also notable selling pressure as large holders move PEPE to exchanges, hinting at potential near-term corrections or profit-taking[4][5]. If PEPE rebounds from $0.0000100 support convincingly, bulls could target resistance levels near $0.0000130 and $0.0000150, consistent with Elliott wave progression and relief rallies after geopolitical tensions easing[1][4].
On-chain whale movements indicate both consolidation and potential corrections, so traders should watch these levels closely. Extreme bullish targets exist but carry high uncertainty and risk[1][4][5]. A failure to hold above $0.000011880 may prompt profit-taking and slow momentum.
The 24-hour trading volume of PEPE has spiked 37.98% to $1.04 billion, while the exchange reserves of PEPE have dropped by 1.14% this week. The market cap of PEPE is now $5.11 billion. The MACD histogram remains in negative territory, making the $0.000011880 support crucial.
A bullish cup-and-handle pattern has formed on the daily chart for PEPE, suggesting a potential price increase in the near future. Notably, a $5.2 million PEPE withdrawal occurred from Binance, adding to the intrigue surrounding PEPE's price movements.
Whale wallets added 3.8 trillion PEPE in July, and the price of Pepecoin (PEPE) has surged by 17.11% over the past week, trading at $0.0000122. A decisive close above $0.000013568 could initiate FOMO-driven buying toward $0.00001425. Fibonacci retracement levels identify $0.000013568 as the next resistance level for Pepecoin.
Key resistance for PEPE is at $0.000013568, while support is at $0.000011880. PEPE's daily gain is 9.77%. The broader market conditions and meme coin cycles are expected to influence PEPE's trajectory, with gradual gains and continued high volatility likely through late 2025. Most forecasts agree that significant rallies depend on favorable market sentiment ripple effects from BTC, ETH, and other altcoins[2].
In summary, PEPE’s near-term price outlook is a delicate balance between maintaining crucial support near $0.0000100 and breaking resistance around $0.0000150 to initiate a stronger upward wave targeting around $0.000028. On-chain whale movements indicate both consolidation and potential corrections, so traders should watch these levels closely. Extreme bullish targets exist but carry high uncertainty and risk[1][4][5].
- With the ongoing volatility in the stock-market, some investors are considering diversifying their portfolio by entering the cryptocurrency market, one potential option being the meme-inspired token Pepecoin (PEPE).
- As PEPE’s development continues, traders are closely monitoring trading patterns and finance metrics such as whale activity and support levels, as these could significantly impact the token's future in the investing world.
