Pepe Coin Price Surges Amid Investor Accumulation and Ethereum’s Recovery

The price of Pepe Coin has risen for four consecutive days, fueled by increased buying activity from both smart money and retail investors, as well as Ethereum’s recent breakout above key resistance levels. Pepe climbed from last week’s low of $0.000011 to a high of $0.00001285, marking a significant rebound in a high-volume trading environment. Over the past 24 hours, trading volume surged by 40%, reaching $1.05 billion.

Why Is Pepe Coin Rallying?

Several factors have contributed to Pepe’s recent rally:

  • Market Stabilization: The broader cryptocurrency market has shown signs of stabilization following the recent crash. Bitcoin has rebounded from $103,000 to $105,400, while Ethereum climbed to $2,650. Pepe, being closely tied to Ethereum’s ecosystem, has benefited from this recovery.
  • Ethereum Sensitivity: Pepe is the second-largest meme coin in the Ethereum ecosystem after Shiba Inu, making its price movements highly sensitive to Ethereum’s performance. Historically, Pepe’s value has mirrored Ethereum’s trends, such as its 81% decline between November and April when Ethereum fell from $4,000 to $1,300.
  • Investor Accumulation: On-chain data reveals a significant increase in Pepe accumulation by both smart money and retail investors. The number of PEPE holders has grown from 366,000 on January 1 to 446,000, reflecting rising interest in the token.

Smart Money and Whale Activity

Recent data highlights an uptick in activity from prominent investors:

  • Smart Money Accumulation: According to blockchain analytics, tokens held by smart money investors have surged by 150% in the past 30 days, now totaling 642 billion coins.
  • Whale Investments: Large-scale investors, or whales, have also increased their holdings by 4%, bringing their total to 10.06 trillion coins. This suggests confidence in Pepe’s long-term potential.

Additionally, the supply of Pepe coins on exchanges has steadily declined, dropping from 160 trillion at the start of the year to 104.85 trillion. A decreasing exchange supply often signals that investors are holding onto their tokens rather than selling, which can be a bullish indicator for future price movements.

Technical Analysis: Bullish Signals for Pepe

From a technical perspective, Pepe coin has shown promising signs of a potential breakout. The daily chart indicates that the coin has rebounded strongly from its April low of $0.000005815 to its current price of $0.00001260.

  • Golden Cross Pattern: A golden cross, formed when the 50-day moving average crosses above the 200-day moving average, has emerged. This pattern is often associated with long-term bullish trends.
  • Key Resistance Levels: If Pepe breaks above the critical resistance level at $0.00001615—the May high—it could pave the way for further gains. The next major target would be $0.00002830, representing a potential 123% increase from the current price.
  • Downside Risk: However, if the price falls below the support level of $0.000010, it would invalidate the bullish outlook and may trigger additional selling pressure.

With growing investor interest, declining exchange supplies, and positive technical signals, Pepe appears poised for further growth, though risks remain. Investors should monitor Ethereum’s performance and broader market trends as they evaluate their strategies.

Post Views: 8