Analyst Identifies PEPE's Market Bottom
Crypto analyst "Slick" has announced that Pepe (PEPE), the third-largest meme coin by market capitalization, has reached its market bottom. This moment follows a dramatic market crash that wiped out most of PEPE's 2025 gains. Based on Elliott Wave theory, PEPE's current price action indicates its entry into Wave 3, which the analyst predicts will result in a bullish reversal with a potential 594% surge.
PEPE Reaches Market Bottom After Price Drop
On January 13, analyst Slick shared a detailed chart indicating that PEPE has likely hit its market bottom. The chart outlines the meme coin’s price movements and highlights the critical role of the 200-day Exponential Moving Average (EMA).
The chart identifies three key waves:
Wave 1: The initial price surge where two local peaks were achieved.
Wave 2: A corrective phase that pulled the price below the 200-day EMA.
Wave 3, which PEPE is now entering, promises a significant upward movement.
Slick emphasized that the 200-day EMA acts as a critical support level. Each time PEPE's price corrected to this level, it entered what Slick described as a "fear phase," highlighting broader market uncertainty.
Bearish Trend Persists, but Hope for Reversal Remains
Over the past month, PEPE has lost more than 26% of its value. In the last seven days, the coin has fallen by another 16.20%. PEPE is currently experiencing similar volatility and bearish conditions as other meme coins like Dogecoin and Shiba Inu, which saw declines of 12.5% and 11.2%, respectively.
Despite this, the analyst believes the current bearish trend is only temporary. Based on historical wave patterns, Slick predicts a significant price recovery is on the horizon.
Prediction: PEPE Could See a 594% Price Surge
Slick estimates that PEPE could achieve a new market capitalization of $50 billion, leading to a substantial price increase. The price chart suggests that during Wave 3, PEPE could experience two peaks before undergoing a correction.
The second peak could drive PEPE’s price up to $0.000118, representing a 594% increase from its current market price of $0.000017.
Conclusion: A Promising Future for PEPE
Although PEPE faces current challenges and bearish conditions, analyst Slick indicates that its future could be extremely promising. If his predictions come true, PEPE could experience one of the most significant rallies in the history of meme coins.
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