🐋 Pepe Price Prediction: Whales Rush In as Volume Tops $1B — Is $1 Still on the Table?
Market players switched from capitulation to accumulation this month, boosting PEPE price bullishness as volume reached levels not seen since early June.
The meme currency is up 15% to start July on the back of over $1 billion in transaction activity over the previous 24 hours, which looks to be driven by more than retail flows.
In the last month, whales' holdings rose over 5% to $7.95 billion, according to Nansen statistics.
AS PEPE remains 60% behind its late-2024 peak, smart money may see interest in the month ahead as a turning moment.
Since early July, exchange PEPE supply has declined 2.66% to 246.82 trillion, its lowest level in almost two years.
Fewer coins on exchanges indicate HODLing as investors self-custody.
Pepe retested $0.00001035, the last barrier to confirming a 6-month cup and handle pattern, after the early July rally.
After completing the corrective ABC phase of a probable Elliott Wave structure, mid-June is a likely local bottom, indicating bullish trend continuation.
Momentum indications show buy pressure resuming.
As buyers return, the RSI is slightly below the neutral line at 49, sustaining an uptrend for the first time since the handle slump started.
MACD also shows bullish indications. The daily chart has verified a golden cross, and the 3-day chart may soon follow, suggesting a longer-term rise.
The MACD may cross above the signal line in a golden cross. Although it has established on the 1-day chart, the 3-day chart suggests a longer-term uptrend.
If the PEPE price closes over $0.00001100 decisively, the pattern predicts a 100% advance to the 1.618 Fibonacci level at $0.00002200.
Given the meme coin's $4.16 billion market worth, long-term growth via acceptance and deflationary methods like token burning will likely be needed to reach $1.
PEPE risks a false breakout and a downtrend continuation if it fails.
