Pepe Coin (PEPE) Price: Ready to Jump? Trading Patterns Suggest Comeback

TLDR

• PEPE cryptocurrency has seen a 47.78% decline in the past month, with current price around $0.000010
• The memecoin market as a whole has shrunk, with total market cap at $77.8 billion and $6.4 billion in daily trading volume
• Technical analysis suggests potential for a 54% rally if PEPE breaks resistance at $0.00001056
• Exchange data shows consistent buying since early 2025, with $30 million worth of PEPE purchased last week
• Celebrity token launches and rug pulls have reduced overall meme coin demand and investor confidence

PEPE has experienced a decline of 47.78% over the past month, with the price currently hovering around $0.000010. This downturn comes as part of a broader contraction in the meme coin market, which now stands at $77.8 billion in total market capitalization.

Recent trading data reveals a daily volume of approximately $450 million for PEPE, indicating continued market interest despite the price decline. The token’s fully diluted valuation currently sits at $4.1 billion, making it one of the larger players in the meme coin space.

The price movement has followed a clear downward trajectory since reaching its peak of $0.0000282 in December 2024. Technical analysis shows that PEPE recently broke below a major logarithmic support level that had held steady since March 2024, suggesting increased selling pressure.

Market data from exchanges presents an interesting contrast to the price action. Since the beginning of 2025, there has been consistent buying activity in the spot market, with $30 million worth of PEPE purchased from exchanges in the past week alone. The largest single purchase this year reached $148.86 million.

PEPE’s market structure currently shows signs of accumulation, with approximately 635.23 trillion PEPE traded at current levels. This accumulation phase has formed within an ascending channel, creating defined support and resistance zones.

The immediate resistance level sits at $0.00001056, with additional resistance points at $0.00001137, $0.00001217, and $0.00001331. A breakthrough above these levels could potentially lead to a 54.22% price increase, reaching $0.00001477.

The token’s fundamentals show some strength, with over 404,000 on-chain holders and $44 million in liquidity locked via Ethereum smart contracts. This substantial liquidity has led to PEPE developing a correlation with Ethereum’s price movements.

Technical indicators present mixed signals. The Relative Strength Index (RSI) currently reads 47.02 and is trending upward, suggesting growing buying momentum. However, the Open-Interest Weighted Funding Rate remains in negative territory at 0.0002%, indicating some remaining selling pressure in the derivatives market.

Meme Coin Sector

The broader meme coin sector has faced challenges recently. The launches of celebrity-backed tokens have led to several high-profile failures and rug pulls, affecting investor confidence across the category.

Recent examples include the Central African Republic’s $CAR token, which lost 97% of its value in a week.

Market analysts have identified $0.0000066 as a key support level for PEPE, coinciding with the weekly 0.786 Fibonacci Retracement. Some analysts, including Ali Martinez, suggest that PEPE could see a major rebound if it maintains support above $0.0000092.

This is a crucial level for $PEPE. If it holds above $0.0000092, a rebound could follow. But a break below may open the door for a move toward $0.0000032. pic.twitter.com/arMSVzXiuo

— Ali (@ali_charts) February 16, 2025

The total cryptocurrency market has shown weakness in recent trading, with the overall market cap dropping 2.5% to $3.3 trillion in the past 24 hours. This broader market sentiment has affected the meme coin sector, which saw a 2.4% decline during the same period.

PEPE’s trading patterns show a strong correlation with Ethereum prices, suggesting potential upside if Ethereum moves toward the $4,000 level. This relationship has become more pronounced as PEPE’s liquidity has deepened.

The token continues to maintain active trading across major cryptocurrency exchanges, with consistent volume indicating ongoing market participation despite price volatility.

New data shows derivatives traders have taken increasingly bearish positions, as indicated by the declining Open-Interest Weighted Funding Rate since its February 14 peak of 0.0101%.

The most recent exchange data from February 18, 2025, shows continued accumulation patterns, though at a slower pace than the previous week’s high points.

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