The price of Pepe is rising again, increasing by almost 57% over the last month. The crypto market as a whole has slowed down over the past 24 hours, but PEPE remains one of the few tokens trading close to an important breakout level.
The meme coin is still 51% below its all-time high. This keeps the potential for further growth if market momentum persists.
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Large outflows from exchanges indicate high confidence:
Since July 16, nearly 17.9 trillion PEPE tokens have left exchanges, reflecting a sustained weekly trend. This usually indicates that holders are moving their assets to private wallets. When more tokens leave trading platforms than come in, it generally suggests that fewer traders are preparing to sell. This signal is bullish, as it reduces short-term price pressure.
Interestingly, token outflows continue despite a price increase of more than 12% over the same period. This may indicate that selling is not a priority for holders at the moment.
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MVRV data indicates a low risk of selling
The 30-day market to realized value ratio (MVRV) has turned positive but remains at +12.24%. A low but positive MVRV indicates that holders have a small profit, but not enough for mass selling. Typically, short-term holders begin to sell when the metric exceeds 20–30%.
Thus, the current MVRV level leaves room for price growth. Combined with active outflows of coins from exchanges, this confirms that Pepe's recent price strength may be sustainable.
PEPE is on the verge of breaking out of a wedge, but…
Currently, PEPE is trading at the upper boundary of the wedge pattern, which often foreshadows a rise. However, the token must establish itself above $0.00001497 (Fibonacci expansion level 0.382). A confident breakout of this key resistance will provide additional confirmation. In this case, the price could reach $0.000017 or move higher.
If PEPE fails to maintain momentum and drops below $0.00001200, this may signal the beginning of a broader correction and the cancellation of the current bullish trend.
