PEPE has pushed deeper into its corrective phase in early February after a sharp selloff wiped out nearly half of its value in just two weeks. The meme coin is now trading around its yearly low zone following a 48% decline that unfolded in line with a technical outlook shared by an analyst on X. PEPE’s price action since the start of the year shows a full unwind of a few days’ rally, and the next question is whether the meme coin is still working through distribution or preparing the ground for its next major phase. PEPE Completes Full Reversal To Yearly Lows PEPE, like the rest of the crypto market, is trading in a bearish momentum. This bearish momentum is much more established among meme coins like PEPE, which have mostly been trading in a downtrend. PEPE, in particular, has been trading in a consistent series of lower highs and lower lows since May 2025. Related Reading: PEPE’s Reversal Move: Pushing Out Bears As Confirmation Closes In According to a technical update from an analyst, PEPE has now completed what he described as a full reversal toward its yearly low, with price unwinding the upside move that marked the opening weeks of 2026. The February update ties directly back to an earlier analysis published on January 5, where the same analyst warned that PEPE’s early-year rally showed characteristics of a manipulated move. Back then, its price surged directly from the yearly open to $0.00000715 without printing lower wicks across multiple timeframes. Also, price failed to confirm quality accumulation confirmations at the bottom, which then led to a downside move just as fast as price pumped up. As it stands, PEPE has now corrected by around 48% from this January peak. No Accumulation Signals Yet Unlike the rally in early January, the ensuing drop did not occur impulsively in a single flush. Instead, it followed a steady corrective path that respected higher-timeframe targets laid out in advance. This is important context, with the analyst noting that hitting bearish targets does not automatically translate into an immediate bullish response. Related Reading: Why Meme Coins Like PEPE And FARTCOIN Are Ready To Explode Looking at PEPE from a structural standpoint, its price has done what was expected, but it has yet to show any behavior that would suggest accumulation or sustained demand stepping in at the current price level. Based on this perspective, there is a need for patience, as further consolidation or even additional volatility could still be required before a more constructive structure develops. At the time of writing, PEPE is trading at $0.00000425, having rebounded a little from an intraday low of $0.00000402. The technical outlook for now is that while the major corrective objectives have been met, PEPE might still continue its decline and keep falling in the near term. Featured image from Medium, chart from Tradingview.com
PEPE is finally entering a critical phase as recent price action suggests the market is actively pushing out bears ahead of a potential structural shift. Pseudonymous crypto analyst ‘The Composite Trader’ argues that the move is less about immediate upside and more about completing a controlled reversal process and preventing any further downside. In an X post this Tuesday, The Composite Trader updated a setup he first outlined on January 5, explaining that PEPE’s sharp bullish expansion at the start of the year was never meant to be sustained. He labeled the move as manipulative and stated that a price reversal toward a yearly open was the intended outcome. PEPE Stages Reversal Move To Force Out Bears His accompanying chart supports this narrative by illustrating a brutal downtrend that began in late 2025, with PEPE plummeting nearly 50% before following a descending curved channel. The analyst highlighted a Break of Structure (BOS) at a lower level in the pattern, followed by a short-lived rally into the $0.0065-$0.0075 region. This upward move was explicitly labeled “manipulation” on the chart, pushed higher to hunt for buy-side liquidity, with no real demand to sustain higher prices. Related Reading: Why Meme Coins Like PEPE And FARTCOIN Are Ready To Explode According to the analyst, PEPE’s ongoing reversal process is designed to force out current bearish positions before any confirmed trend change. The chart shows that the meme coin has already corrected by roughly 33.21%, wiping out some of the gains it achieved earlier this year. This move aligns closely with The Composite Trader’s earlier expectation that the yearly open would be challenged, confirming the market’s downward momentum. The analyst also noted that similar price patterns are emerging across other altcoin pairs, reflecting the broader impact of whale-driven movements. He has emphasized the importance of understanding the timing behind these reversals, suggesting that not every price shift signals a sustainable uptrend. Furthermore, the Composite Trader has said that accumulation schematics and bullish reversals for PEPE will be confirmed when the time is right. Until then, the market remains bearish with strategic price corrections, requiring patience from investors and traders. Analyst Predicts More Decline For PEPE Price Crypto analyst Davie Satoshi has also shared insights on PEPE’s price behavior and its potential next moves. He predicts that PEPE could decline even further if Bitcoin crashes to $85,000 and $75,000. Based on his analysis, PEPE’s price movement is now closely tied to BTC, and the lower Bitcoin goes, the more likely PEPE will follow. Related Reading: PEPE Price Prediction: The Level That Will Send The Meme Coin To The Stratosphere Excluding PEPE, Satoshi forecasts that all meme coins could enter a downtrend if Bitcoin declines. Despite this bearish outlook, he believes PEPE will likely rebound and move back up. The analyst expects the meme coin to reverse sharply and find new support levels. He advises non-PEPE holders to take advantage of the current downtrend by buying the dip. Featured image from Medium, chart from Tradingview.com
As meme coins posted sharp rebounds earlier this year, PEPE also rallied, delivering notable gains. Although the meme coin has since slipped back into negative territory, a crypto analyst believes another bullish reversal may be approaching soon. According to the analyst, a key technical pattern has recently emerged on the chart, suggesting that PEPE has formed a bottom and could be on its way to a massive 3,000% price rally. PEPE Price Prepares For Massive 3,000% Rally In a post shared on X this Thursday, market analyst CryptoLinx outlined a bullish outlook for PEPE, pointing to a key shift on the weekly chart that he believes could trigger a 3,000% rally in the meme coin’s price. He stated that PEPE has just printed a bullish Moving Average Convergence Divergence (MACD) cross on the weekly timeframe. Related Reading: Bitcoin Price Crash To $57,000: The Bullish Path That Could End In Tears The analyst’s chart shows the weekly MACD lines crossing upward with momentum shifting from red to green. This move comes after an extended downtrend and coincides with price stabilizing and starting to curl higher, a pattern often associated with a rounded bottom. In his post, CryptoLinx emphasized that most traders and investors do not fully understand just how powerful the weekly MACD can be when it crosses at a true market bottom. Such moments often mark the market’s transition from an accumulation phase to a sustained uptrend. In previous cycles, similar setups have led to substantial price appreciation in PEPE. Moves of 200% to 300% were recorded in the PEPE price as momentum shifted in favor of buyers. CryptoLinx has suggested that if PEPE has indeed found its true bottom, its potential price rally could be significantly more explosive than past cycles. Based on the analyst’s predictions, the bullish MACD cross would not fuel a simple price recovery for PEPE, but an explosive surge that could completely flip its ongoing downtrend and mark a new ATH. The analysis points to a potential upside of 1,500% to 3,000% for PEPE this year. Such a rally could see the meme coin jump from its current levels around $0.00000585 to $0.0000928 and $0.000179, respectively. An Update On PEPE Price Action In 2025, the Pepe price spent several months in a sustained downtrend, closing the year in the red and extending its losses into the first few days of 2026. However, as meme coins saw a sudden market revival at the beginning of the year, PEPE jumped by more than 30%, briefly rallying before shedding some of its gains. Related Reading: Next XRP Wave Shows Where Price Is Headed Next, But There’s A Catch According to CoinMarketCap’s data, the PEPE price remains down over 68% Year-to-Date (YTD). Despite this broader decline, the meme coin has shown signs of recovery, climbing more than 44% over the past month. At the time of writing, PEPE is down nearly 3% in the last 24 hours and about 4.5% in the past week. Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Morja has revealed his PEPE price prediction, alluding to the level the meme coin must hold to sustain its bullish momentum. Another crypto analyst painted a scenario in which the meme coin replicates the parabolic run it recorded in 2023. PEPE Price Could Sustain Bullish Momentum If It Holds This Level In an X post, Morja stated that a weekly candle close above the red level at $0.000005853 for the PEPE price would confirm a successful retest and reinforce the bullish movement. He further remarked that as long as the price holds above this level, upside continuation remains favored. Related Reading: If You’re A PEPE Investor, You Need To See This Or Risk Losing Your Coins However, the analyst warned that on the way toward $0.000010867, a key resistance is located around $0.0000083, which may act as a significant reaction zone before any further upside continuation. Meanwhile, crypto analyst StudyE has painted a scenario in which the PEPE price goes parabolic, replicating its historic 2023 run. The crypto analyst stated that this would happen if the PEPE price pumps into the January 15 to February 15 window. He further explained that the meme coin needs to be at the unfinished monthly candle in that time window in order to invalidate this. An invalidation would send PEPE higher first, and then the bottom would be in. If that doesn’t happen, it may have one more hurdle to overcome. StudyE stated that no matter the path the PEPE price takes, it would lead to the same outcome and timeframe. Based on this, he declared that the fourth quarter of this year will be parabolic, regardless of what happens. It is worth mentioning that PEPE has been one of the best-performing crypto assets to start the new year, with the meme coin up over 30% year-to-date (YTD). PEPE Eyes Rally To $0.00000728 In The Short Term Crypto analyst CryptoLinx has predicted that the PEPE price could rally to $0.00000728 in the short term. The analyst noted that PEPE is breaking out of the downward channel right now and that the target for this pattern is a move back to the previous high. This is a level that the meme coin had reached at the beginning of the year, when it rallied by as much as 80%. Related Reading: Analyst Predicts 430% PEPE Price Rally If This Level Holds In the long term, crypto analyst Eco Nomad stated that the PEPE price will rally to $0.00001, which is the midpoint of the Gaussian channel. If the meme coin breaks that level, he is confident that it could trade within the 4 zeros, having deleted one zero in the process. At the time of writing, the PEPE price is trading at around $0.000006670, up almost 14% in the last 24 hours, according to data from CoinMarketCap. Featured image from Freepik, chart from Tradingview.com
Pepe has witnessed a sharp rally over the past week, but a cryptocurrency analyst has warned it could turn out to be a setup for another move down. Pepe Has Shot Up Over The Past Week PEPE has taken off to start 2026 as the memecoin’s price has gone up by more than 60%, significantly outperforming all cryptocurrencies in the top 50 by market cap list. At the height of the rally, the asset touched $0.00000725 on Sunday, but it has since seen some retrace back to $0.00000676. Related Reading: Dogecoin Heading To $0.08? Analyst Thinks So—Here’s Why Other meme-based tokens have also witnessed rallies recently, with Dogecoin and Shiba Inu being up 17% and 15% over the past week, respectively. But clearly, these pale in comparison to the 62% profits that Pepe has managed in the same window. Though the memecoin’s rally has been impressive so far, technical analysis (TA) may actually point toward a bearish outcome. PEPE Approaching A Retest Of Head-And-Shoulders Breakdown Level In a new post on X, analyst Ali Martinez has talked about the recent PEPE price action from a TA perspective. As the chart shared by Martinez shows, the memecoin was earlier forming a Head-And-Shoulders pattern. The Head-And-Shoulders is a pattern that’s characterized by a series of three price peaks. The first and third peaks are of a roughly similar height and form the “shoulders,” while the central peak stands out as the largest and is known as the “head.” The pattern involves one more element, a horizontal line that’s called the “neckline.” Between the peaks, the price retests this level and finds support at it. Once the right shoulder has formed, however, the next retest is considered likely to lead to a bearish breakdown. As is visible in the graph, the daily Pepe price saw a fall below the neckline of its Head-And-Shoulders pattern last year. This led to a period of sustained bearish action, culminating in a low in December. With the rally that has occurred in the cryptocurrency’s price in 2026 so far, however, it has closed back the distance to the neckline. While the development looks bullish, the analyst thinks a different outcome could follow for the coin. As Martinez noted, “this could be a simple retest of the breakdown before a move to $0.0000015.” It now remains to be seen how the retest of the level, if one follows, will go, and whether it will result in another rejection for PEPE. Related Reading: Bitcoin Cycle Defined by Demand, Not Price: CryptoQuant Head Says Pepe isn’t the only memecoin that has seen bearish developments in TA recently. As the analyst has highlighted in another X post, Floki, which has enjoyed a surge of over 40% in the past week, has seen a sell signal on the Tom Demark (TD) Sequential. Featured image from Dall-E, chart from TradingView.com
Crypto analyst BALO has predicted that the Dogecoin price could still rally to new all-time highs (ATHs) despite its decline last year. He revealed what level DOGE needs to reclaim to trigger this massive breakout that could lead to new highs. Dogecoin Price Eyes Rally To ATH With Reclaim Of This Level In an X post, BALO stated that a reclaim of $0.13 could trigger a massive breakout for the Dogecoin price and could lead to a new all-time high (ATH) for the top meme coin. His statement came just before DOGE reclaimed this level, rallying double digits in the last 24 hours. Related Reading: Dogecoin Long-Term Bullish Structure Still In Play And Will Cross $10 The Dogecoin price rallied alongside other meme coins, with PEPE leading the way with a daily gain of as much as 35%. With DOGE now back above $0.13, a new all-time high could be on the cards, as BALO predicted. His accompanying chart showed that the meme coin could reach a yearly high of around $0.44 this year, then rally to a new ATH of $0.74 in 2027. Crypto analyst Neo offered a more bullish outlook for the Dogecoin price, suggesting it could rally to as high as $35. In an X post, the analyst highlighted an ascending trendline for DOGE, with the middle of the trendline placing the meme coin at $4, and the target at the top of the trendline at $35. Neo alluded to DOGE’s historical performance, noting that in 2021, the Dogecoin price surged from the lower limit to the upper limit in one go. The analyst further remarked that there is the potential for that to happen again this time. His accompanying suggested that this parabolic rally could happen before this year ends. Why A Rally To $0.75 Is Possible Crypto analyst Bitcoinsensus raised the possibility of a Dogecoin price rally to $0.75 and explained why DOGE could rally 450% to this resistance level. The analyst noted that each previous accumulation phase has led to a strong upswing in price. As such, Bitcoinsensus said that this might indicate what could happen next for the meme coin, with a potential rally to a new ATH. Related Reading: 7-Period Fractal Trend Says Dogecoin Price Is Headed To $10 Meanwhile, crypto analyst Kevin Capital indicated that the Dogecoin price may be reentering a bullish trend after climbing back above the $0.138 level. He further remarked that the next thing needed is a weekly close above this level, and then DOGE could be “back in business.” The analyst had previously stated a reclaim of this level would be a huge positive, with his accompanying chart suggesting that this could put a potential rally to $0.4 on the cards. At the time of writing, the Dogecoin price is trading at around $0.14, up over 11% in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com
A fresh wave of bullish optimism has swept across the meme coin community as technical analysts point to a potential explosive rally that could propel the PEPE price by more than 1,500%. This massive surge could see the meme coin breakout toward a new all-time high of $0.00012 by early 2026. PEPE Price Targets $0.00012 With Final Accumulation Zone An analyst from Wins, a cryptocurrency trading school, has projected on X social media a 1,500% move in the PEPE price, forecasting a potential rally toward $0.00012. According to the chart, this bullish target aligns with a projected increase in market capitalization from $2.89 billion to $48 billion. The analysis highlights a Fibonacci Extension setup with a 2.618 target positioned near the $0.00012 level. Related Reading: PEPE Price Prediction: Analyst Says Market Is Ready After Crash, Here’s The Target The chart analysis also reveals that PEPE is consolidating within a descending wedge pattern, suggesting a strong bullish reversal once a breakout occurs. Currently, the meme coin is trading around $0.0000068, corresponding with a forecasted surge in market cap to $3 billion. The analyst has identified the current price range, visualized by the green accumulation box, as the final buying opportunity before the next leg upward. The pattern mirrors PEPE’s previous accumulation and breakout phase from late 2023 to early 2024, where a similar descending wedge formed before a significant price surge. Fibonacci retracements and extensions on the chart suggest that once PEPE clears resistance near $0.000015 and sees its market cap increase to $6 billion, momentum could accelerate toward $0.000035 and eventually reach the final target at $0.00012. The analyst has set the timeline for PEPE to achieve this target around January 12, 2026. PEPE Historical Setup Signals Major Price Rally Sharing similar bullish sentiments for PEPE’s price outlook, crypto analyst Chandler wrote on X that “no one is ready for what’s coming for PEPE.” He shared a technical analysis projecting a massive rally for PEPE based on historical trends to support his bold statement. Related Reading: The Big PEPE Price Breakout: Falling Wedge Pattern Points To 64% Rally The comparative chart analysis overlays two distinct timeframes from September 2023 to February 2024 and September 2023 to October 2025. The chart shows repeating cyclical structures, marked by colored circles representing accumulation, breakout, correction, and consolidation phases. In 2023 – 2024, these patterns preceded a major upward move that took the PEPE price to a new all-time high, from $0.0000009 to $0.0000035, representing a staggering 288% increase. Chandler’s current projection suggests the meme coin is completing a similar sequence, with the blue-circled region around $0.00000728 marking a potential bottom before a powerful surge. The analyst’s forecast maps out a sharp rise to $0.000015 first, followed by a slight drop before an explosive rally above $0.00035, marking a staggering 4,708% gain from the bottom level. Featured image from Medium, chart from Tradingview.com
Trading volume surged 72% above its daily average, reaching 2.70 trillion tokens, indicating large players are actively managing positions.
Despite the drop, trading volume was only 7.55% above the weekly average, suggesting routine profit-taking rather than a significant shift in sentiment.
Trading volume has surged, reflecting increased volatility, and technical analysis suggests bearish signals that could extend the recent downturn
The sell-off was driven by significant activity in the crypto space, with whales taking profits and investors seeking cover from rising political risks.
The price jump comes amid growing whale accumulation, with top 100 PEPE addresses on Ethereum adding 4.28% to their holdings in 30 days.
PEPE's price is now supported near $0.00000900, with resistance around $0.000009681, and open interest for PEPE futures has risen to near $600 million.
Despite the drop, PEPE's derivatives market activity remains strong, with open interest reaching $560 million and trading volume at $1.2 billion.
An analyst has pointed out how a 78% price move could be coming for Pepe based on a technical analysis (TA) pattern forming in its daily chart. PEPE Is Approaching The End Of A Symmetrical Triangle In a new post on X, analyst Ali Martinez has shared a TA pattern forming in the 1-day price of Pepe. The pattern in question is a “Symmetrical Triangle,” which forms when an asset observes consolidation between two trendlines approaching each other at a roughly equal and opposite slope. The upper line of the pattern acts as a resistance barrier, while the lower one provides support. Together, they make it so that the price remains stuck in the channel between them, and since the trendlines involved here are of the converging type, the asset’s range shrinks as it moves inside the triangle. Related Reading: Dogecoin Down 13% As Whales Distribute $181 Million In DOGE An escape out of either of these bounds can imply a continuation of trend in that direction. That is, a break above the triangle can be a bullish sign, while a decline under it a bearish one. Now, here is the chart shared by Martinez that shows the Symmetrical Triangle that the 1-day PEPE price is currently trading inside: As is visible in the above graph, Pepe has been stuck inside this channel since December of last year, but its price is now not far from the apex. Generally, breakouts become more likely to occur the tighter an asset’s range is, as it means retests happen more frequently. With the memecoin standing inside the narrow tip of the triangle now, its range is quite small, so an escape could be probable to occur in the near future. Symmetrical Triangles are usually considered to have an equal bias in both directions, so a possible breakout could occur in either direction for the asset. Triangle breakouts are generally of the same length as the base of the triangle (that is, the distance between the trendlines at their widest). Based on this, the analyst believes the memecoin may be gearing up for a 78% move. Related Reading: Bitcoin Touches $117,000 As Binance Records 9 Days Of Outflows It now remains to be seen how the price of the cryptocurrency will develop in the near future and which side of the Symmetrical Triangle a breakout would take place. The Symmetrical Triangle is just one type of triangles that exist in TA. Another popular variant is the Ascending Triangle, which forms when the upper trendline is parallel to the time-axis. As Martinez has pointed out in another X post, Solana has seen a breakout above such a triangle on the daily timeframe. “Solana $SOL may retest the breakout zone at $210 before pushing toward the $320 target!” explains the analyst. PEPE Price At the time of writing, Pepe is trading around $0.00001137, up more than 9% over the last week. Featured image from Dall-E, charts from TradingView.com
The drop in PEPE's value was part of a wider crypto market drawdown, with the CoinDesk 20 index losing 1.8% of its value, and memecoins being especially hard hit.
Recent PEPE price performance has not lived up to the explosive rallies that the meme coin has become known by, slowing down over the last year. However, with the move toward the last quarter of the year, the meme coin’s luck looks to be turning after staging an over 10% rally over the weekend. The possibility of the PEPE price rally continuing is now even higher after the formation of a falling wedge pattern that points toward more bullish movements. PEPE Price Shows Bullishness With Falling Wedge Pattern A pseudonymous crypto analyst on the TradingView website has painted a rather bullish picture for the PEPE price in the near term. According to the analysis shared, the first sign of bullishness has been the emergence of a falling wedge pattern, something that indicates that the meme coin is incredibly bullish from here. Related Reading: The Dogecoin Bullish Reset: A Clear Roadmap To $0.35 As the crypto analyst explains, falling wedge pattern formations have historically been known as one of the better and reliable bullish reversal setups. Thus, it is expected that it would play out in a similar manner for the PEPE meme coin, eventually leading to double-digit price gains. One major thing that the falling wedge pattern indicates is that sellers are running out of steam. Once this happens, demand has time to pick up, and this leads to the first stage of the reversal, as seen over the weekend. As long as volume continues to hold up high, then this pattern could see a confirmation. Once confirmed, the next step is the PEPE price going on a major rally. This is where the real fun begins, because the falling wedge pattern signals the start of another breakout. As more investors pile into the meme coin, the possibility of this rally starting becomes higher. Related Reading: Here’s How The Bitcoin Price Macro Correction Could Play Out Next How High Will The Price Go? If the breakout is confirmed, then the crypto analyst is already calling this a high-reward trading opportunity for investors. It is expected that the PEPE price will rise above $0.000018 as a result of this move, which would mean an over 60% increase in the price. Furthermore, there is the possibility of a bullish continuation, and in this case, the price could see up to a 90% increase, and even double in the best-case scenario. However, a rally to an all-time high will remain elusive unless bullish momentum continues to rise and buyers are able to take full control of the price. Featured image from Dall.E, chart from TradingView.com
The CoinDesk Memecoin Index (CDMEME) rose more than 11% in the week, outperforming bitcoin’s 1.4% move.
Network activity has declined, with daily active addresses dropping to fewer than 3,000, and technical analysis suggesting a possible 15% drop.
Despite the sell-off, PEPE rebounded sharply from it's session lows, with sustained buying interest and growing whale holdings.
Despite the price decline, whale accumulation of PEPE continued, with the top addresses on Ethereum increasing their holdings by 1.5% in the last 30 days.
The recent price rally is likely tied to a broader market trend, with growing expectations of a Federal Reserve interest rate cut in September.
PEPE lost nearly 4% of its value in 24 hours amid a broader market sell-off, with its price falling from $0.00001083 to $0.00001002.
The memecoin sector has underperformed the wider cryptocurrency market, with PEPE's decline contributing to a 6% plunge in the CoinDesk Memecoin Index (CDMEME).
Despite the selloff, indicators suggest growing investor interest, including a 3.2% increase in whale wallet holdings and a 2.5% decrease in PEPE on exchanges.
PEPE is back in the spotlight. A massive surge in Google search activity on July 22 sent the memecoin to the top of the trending list. Data from Google Trends showed interest in PEPE spiking from 25 to a perfect 100, indicating a massive 300% surge – the highest possible level of search popularity. It was short-lived but loud. For tokens that thrive on hype, moments like this can be fuel—or fire. Related Reading: Too Pricey? Expert Says XRP Beats Bitcoin And Ethereum Right Now Google Trend Spike Hints At Speculation Pressure According to analysts tracking memecoin chatter, this kind of surge in online curiosity can be both a blessing and a warning. On one hand, spikes in search interest often precede price movements as new buyers jump in. On the other, it can mark the top of a wave, right before it crashes. For PEPE, community-driven excitement is a known driver. Past crypto cycles show that when attention hits extremes, prices often follow. But what follows that is less predictable. Sharp reversals aren’t rare, especially in volatile memecoins. Trading volume data revealed that sellers were in control during the two days leading up to the current rally. Now, buy-side pressure is returning, and bulls are trying to hold the line. Breaking The Downtrend And What’s Next On-chain charts show something else happened this month. PEPE broke its long-term downtrend from December 9, 2024. The token double-bottomed at $0.00000568 in March. Then on July 10, it pierced the trendline for the first time. It didn’t stop there—PEPE retested that breakout five days later. If the price holds above $0.00000568, the next likely target is $0.000016, last seen in Q4 2024. But crypto doesn’t make promises. A break below that line could trap recent buyers and drag the price sideways or lower. For now, this is a make-or-break moment for traders watching closely. Related Reading: Not Even Bitcoin Is Safe: Kiyosaki Warns Of Massive Market Collapse Whales Play Their Hand Meanwhile, whales are making noise of their own. Onchain Lens reported that a trader pocketed $538,500 after exiting long positions on PEPE and Ethereum. The network’s health isn’t sending clear signals either. The NVT ratio was 41 at last check, indicating low transaction activity compared to market value. It dropped 30% in one day—a red flag, perhaps, if activity doesn’t pick up. What comes next may depend less on charts and more on timing. Featured image from Meta, chart from TradingView
Despite the drop, PEPE is outperforming the wider memecoin space and is up nearly 55% over the past month.
The Pudgy Penguins project has had a massive rally over the past week, stealing the spotlight in both the non-fungible token (NFT) and memecoin sectors. Amid its recent performance, some analysts suggest that the token is preparing for a 140% run to new highs. Related Reading: Dogecoin Price Breaks Above $0.26 In Weekend Rally As Pundit Predicts 2,600% Surge Pudgy Penguins Catch NFT And Memecoin Rally On Monday, Pudgy Penguins (PENGU) became one of the leading memecoins after surging nearly 20% in the past 24 hours. The Solana-based token saw its price climb from the $0.031 mark to a six-month high of $0.040 before retracing to the $0.036 area. Pudgy Penguins is one of the largest NFT collections, with a market capitalization of 143,897 ETH. It consists of 8,888 unique cartoons of cute penguins and sits behind CryptoPunks as the second-largest NFT collection. In December, the Pudgy Penguins project launched its official token, PENGU, on the Solana Blockchain, gathering massive attention during the Q4 2024 rally. The memecoin flipped tokens like dogwifhat (WIF) and BONK, momentarily becoming the largest Solana memecoin by market cap and the fourth-largest memecoin by this metric, just behind Dogecoin, Shiba Inu, and PEPE. During the recent crypto market performance, PENGU has significantly recovered from its April all-time low (ATL) of $0.003, which represented a 95% decline from its December all-time high (ATH) of $0.068. Over the past week, the token has reclaimed crucial levels after breaking out of its multi-month downtrend and rallied around 30%, surpassing the daily and weekly performances of SHIB and PEPE. Pudgy Penguins NFT collection also soared in the past 24 hours, with a 290% increase in trading volume, driven by the recent interest in the sector. The collection’s 16% daily surge saw its floor price rise to 16.19 ETH, or $60,242, by Monday afternoon. Notably, the NFT market cap reached its highest level since January after jumping 17% on Sunday from $5.1 billion to $6 billion, according to CoinGecko data. A recent report noted that NFT sales increased by 78% in Q2, while the number of traders increased 20% from Q1, suggesting renewed interest in the sector. PENGU Eyes 140% Surge Crypto analyst Sjuul from AltCryptoGems noted that the Solana memecoin has been showing positive signs of strength since late June, when it broke out of a textbook multi-month Cup and Handle pattern. Since then, the token has smashed past the pattern’s neckline, around the $0.018 mark, and reclaimed the $0.020 resistance as support, which propelled its 30% surge in the weekly timeframe to its $0.035-$0.040 levels. Ahead of the Monday surge, Ali Martinez highlighted that PENGU was “ready for another leg up” as it had been accumulating within a symmetrical triangle formation over the past week. Based on this pattern, the cryptocurrency could see a 140% surge toward the $0.075 barrier if it continues to hold above the $0.031-$0.033 breakout area and confirms these levels as support in the coming days. Meanwhile, two market watchers have shared optimistic targets for the cryptocurrency this cycle. Byzantine General affirmed that PENGU could go to a market capitalization of $10 billion. “If you consider that it’s the memecoin with the most mainstream adoption, with maybe the exception of DOGE, it’s not that crazy at all actually,” he detailed. Similarly, Crypto Kaleo considers that “$0.8888 is a decent target, but it’s still FUD.” Related Reading: Dogecoin Rally On Thin Ice: Analyst Predicts Sudden Shakeout To the analyst, “PENGU to $4.20 would put it at a $373B mcap. This is a much better upside target.” He explained his bold prediction, arguing that “Last bull market, SHIB hit 50% of DOGE’s peak. There’s room to have other high-quality memes do something similar this cycle.” As of this writing, PENGU trades at $0.036, a 19% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Trading volumes for the frog-themed token surged to 4.6 trillion, while exchange balances have decreased 2.6% over the past 30 days.
Despite the sell-off, whale accumulation appears to be robust, with PEPE whales on Ethereum adding 1.4% to their holdings over the past seven days.