Pepe Coin (PEPE) Price: $5 Million Whale Shopping Spree Triggers Double-Digit Gains

TLDR

• PEPE coin surged 11% in a day to reach $0.000006370
• Three major whales purchased 689.79 billion PEPE tokens worth approximately $4.3-5 million
• Technical patterns suggest a potential 60% price surge with resistance at $0.0000075 and $0.000010
• PEPE futures open interest climbed to $198-214 million, indicating growing trader interest
• Elder-Ray Index turned positive for the first time since January, signaling bullish momentum

Pepe Coin has increased in price 11.27% in 24 hours, reaching $0.000006370. This sudden uptick comes after a prolonged bearish trend that saw PEPE lose over 80% of its value from its all-time high of $0.00002833 recorded in December 2024.

Market analysts have spotted key technical patterns forming on PEPE’s daily chart. These patterns suggest a major price movement could be imminent. Some experts predict this tightening price action may result in a surge exceeding 60% in a short timeframe.

Pepe
PEPE Price

The current price charts show several optimistic indicators. Buy volume is rising while sell pressure appears to be weakening. Though price action continues to print lower lows, it seems to be running out of momentum. This combination of factors suggests PEPE might be preparing for a sharp upward move.

If a breakout occurs, traders should watch for immediate resistance at $0.0000075 and $0.000010. A successful push above these levels could open the path toward $0.00002095, representing a potential 220% increase from current values. However, caution remains warranted.

In a bearish scenario, PEPE could face trouble if it fails to hold above the crucial support level at $0.00000298. This could trigger another sell-off, sending prices lower. The $0.0000062 level represents another key support area to monitor.

The recent price spike coincides with increased whale accumulation. On-chain data shows three major investors purchased a combined 689.79 billion PEPE tokens. These purchases amount to approximately $4.3-5 million in value, showcasing renewed confidence from larger market players.

The largest buyer was wallet 0x7A7D, which purchased 437.7 billion PEPE for 1,413.4 ETH (about $2.72 million). Two other wallets, 0x9212 and 0x7779, acquired 158.58 billion PEPE ($1 million) and 93.51 billion PEPE ($574,000) respectively.

These large-scale acquisitions often precede price rallies. They typically lead to higher liquidity and stronger market confidence in the asset. Though some analysts have questioned the origin of these funds, as they reportedly came from Tornado Cash.

Beyond technical indicators and whale activity, broader economic factors have supported PEPE’s recovery. U.S. inflation data released this week showed a decline in the Consumer Price Index from 3.0% to 2.8%. This reduced concerns about aggressive Federal Reserve policies.

As a result of improved economic outlook, risk assets including cryptocurrencies experienced renewed interest from investors. This macro trend has provided additional tailwinds for PEPE’s price movement.

Open Interest

PEPE’s futures open interest has climbed to between $198-214 million, its highest level since early March. This increase indicates that traders are positioning for a potential breakout, further reinforcing the bullish sentiment around the coin.

Daily trading volume has also surged, exceeding $1.11 billion and jumping by 18% over the past 24 hours. The 24-hour liquidations have passed $2.58 million, highlighting increased market activity around the token.

Technical indicators provide additional insights into PEPE’s potential future performance. The Elder-Ray Index has turned positive for the first time since January 19. This signals a bullish shift in investor sentiment toward the altcoin.

The Elder-Ray Index assesses market strength by comparing an asset’s price to its moving average. It highlights whether bulls or bears are dominant in the market. A positive value suggests bulls are in control, indicating upward momentum.

Despite these positive signals, PEPE continues to trade below its 200-day Exponential Moving Average. This means a confirmed uptrend has not yet been established. Experts suggest that if the token can maintain its position above $0.0000062, it may gain the momentum needed to push toward higher targets.

If current trends continue, some analysts project PEPE could see short-term appreciation of 60%, with potential targets of $0.000012 (a 90% increase) and $0.000020 (a 215% increase). The immediate resistance level to watch is $0.0000083.

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