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Key Takeaways:
- PEPE surged 9.9% as whales like Morpho added millions in tokens.
- Price action hinges on the $0.00001024 support level within a bullish inverse head and shoulders pattern.
- Liquidation heatmaps show upside potential to $0.00001114, but downside risk remains at $0.0000099.
Pepe (PEPE) surged by 9.9% over the past 24 hours, spurred by large-scale investor inflows and a spike in user confidence. Yet, the meme coin’s near-term fate hinges on a key support level that could determine whether bullish momentum can be sustained.
Recent data reveals a growing chorus of long-term holders and institutional entities backing the frog-themed token—hinting at potential for continued upward movement.
Entities Accumulate as PEPE Hits Record Holder Count
Blockchain intelligence platform Arkham confirmed over $3 million in PEPE was accumulated in the last day, with Morpho alone purchasing $1.3 million worth of tokens. This influx of large buyers aligns with a record-breaking rise in the number of holders, which now exceeds 455,000, according to CoinMarketCap.
The synchronized spike in both whale activity and individual participation points to strengthening investor conviction, a bullish signal for the asset’s future trajectory.
Crucial Support Level May Determine Price Breakout
Technically, PEPE is currently testing a vital support zone at $0.00001024, which had previously acted as resistance. The token also trades within an inverse head and shoulders pattern—historically a precursor to upward price action.
If support holds, bulls could drive PEPE to $0.00001157, representing a 12% upside, with further gains toward $0.00001339 if momentum continues. However, any breakdown below this level may invalidate the bullish pattern and expose the asset to bearish pressure.
Adding to bullish signals, the Bull Bear Power (BBP) indicator continues to flash green, highlighting buyer dominance in recent sessions.
Liquidation Maps Show Opportunity and Risk
CoinGlass’s liquidation heatmap reveals significant clusters both above and below PEPE’s current price, suggesting a volatile trading zone. Downside targets include $0.0000099, where a major liquidity pool could attract price action if sentiment weakens.
Conversely, upward targets such as $0.00001114—also marked by dense liquidity—may serve as magnet zones if bullish momentum holds. These levels are likely to be tested as short positions come under pressure.
Also Read: PEPE Price Prediction 2025-2030: Will This Memecoin Hit $0.01?
With whale accumulation rising, retail participation surging, and bullish technicals forming, PEPE has the makings of a breakout. However, confirmation will depend on holding the $0.00001024 support and sustaining buying volume.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
